Guidepath Income Correlations

Mutual Funds . USA . 
Fund . Guidepath Income
GPINX Fund  USD 8.54  0.01  0.12%   
The current 90-days correlation between Guidepath Income and Multimanager Lifestyle Moderate is 0.47 (i.e., Very weak diversification). The correlation of Guidepath Income is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Guidepath Income Correlation With Market

Average diversification

The correlation between Guidepath Income and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guidepath Income and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Guidepath Income. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Guidepath Mutual Fund

  0.86GPARX Guidepath Absolute ReturnPairCorr
  0.82GPICX Guidepath ConservativePairCorr
  0.78GPIFX Guidepath Flexible IncomePairCorr
  0.63GPIGX Guidepath Growth AndPairCorr
  0.66GPMIX Guidepath Multi AssetPairCorr
  0.98MWTNX Metropolitan West TotalPairCorr
  0.98MWTSX Metropolitan West TotalPairCorr
  0.97PTTPX Pimco Total ReturnPairCorr
  0.98PTRRX Total ReturnPairCorr
  0.97PTRAX Total ReturnPairCorr
  0.88PTTRX Total ReturnPairCorr
  0.96FIWGX Strategic AdvisersPairCorr
  0.89DODIX Dodge IncomePairCorr
  0.98MWTIX Metropolitan West TotalPairCorr
  0.88MWTRX Metropolitan West TotalPairCorr
  0.76FSMMX Fs Multi StrategyPairCorr
  0.61PDGCX Prudential Day OnePairCorr
  0.66CUSOX Columbia Ultra ShortPairCorr
  0.62IRCZX International Small CapPairCorr
  0.81BNDAX Total Return BondPairCorr
  0.8PLDSX Pacific Funds ShortPairCorr
  0.61FMUSX Federated MunicipalPairCorr
  0.68GIMSX Goldman Sachs LocalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Guidepath Mutual Fund performing well and Guidepath Income Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Guidepath Income's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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