Guidepath Income Correlations

GPINX Fund

USD 8.54 0.01 0.12%

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

0.86	GPARX	Guidepath Absolute Return	Pair Corr
0.8	GPICX	Guidepath Conservative	Pair Corr
0.78	GPIFX	Guidepath Flexible Income	Pair Corr
0.62	GPIGX	Guidepath Growth And	Pair Corr
0.65	GPMIX	Guidepath Multi Asset	Pair Corr
0.98	MWTNX	Metropolitan West Total	Pair Corr
0.98	MWTSX	Metropolitan West Total	Pair Corr
0.97	PTTPX	Pimco Total Return	Pair Corr
0.98	PTRRX	Total Return	Pair Corr
0.97	PTRAX	Total Return	Pair Corr
0.97	PTTRX	Total Return	Pair Corr
0.96	FIWGX	Strategic Advisers	Pair Corr
0.89	DODIX	Dodge Income	Pair Corr
0.98	MWTIX	Metropolitan West Total	Pair Corr
0.88	MWTRX	Metropolitan West Total	Pair Corr
0.75	FSMMX	Fs Multi Strategy	Pair Corr
0.65	CUSOX	Columbia Ultra Short	Pair Corr
0.61	IRCZX	International Small Cap	Pair Corr
0.78	BNDAX	Total Return Bond	Pair Corr
0.82	PLDSX	Pacific Funds Short	Pair Corr
0.67	GIMSX	Goldman Sachs Local	Pair Corr

Related Correlations Analysis

	PNDIX	CNREX	FIKMX	PJEAX	NRCFX	DFREX	FREEX	SEIRX
PNDIX		0.68	0.93	0.7	0.72	0.7	0.6	0.69	PNDIX
CNREX	0.68		0.79	0.82	0.78	0.81	0.76	0.68	CNREX
FIKMX	0.93	0.79		0.85	0.85	0.87	0.8	0.79	FIKMX
PJEAX	0.7	0.82	0.85		0.95	0.94	0.95	0.77	PJEAX
NRCFX	0.72	0.78	0.85	0.95		0.91	0.92	0.75	NRCFX
DFREX	0.7	0.81	0.87	0.94	0.91		0.98	0.82	DFREX
FREEX	0.6	0.76	0.8	0.95	0.92	0.98		0.8	FREEX
SEIRX	0.69	0.68	0.79	0.77	0.75	0.82	0.8		SEIRX
	PNDIX	CNREX	FIKMX	PJEAX	NRCFX	DFREX	FREEX	SEIRX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PNDIX	0.04	0.02	0.00	(6.07)	0.00	0.00	0.10	0.00	0.20
CNREX	0.67	0.17	(0.02)	3.46	0.67	(0.72)	1.68	(1.30)	4.14
FIKMX	0.19	0.05	(0.47)	1.50	0.00	(0.24)	0.42	(0.33)	1.35
PJEAX	0.58	0.09	(0.09)	1.05	0.74	(0.62)	1.53	(1.23)	4.69
NRCFX	0.53	0.08	(0.12)	1.16	0.62	(0.56)	1.38	(1.05)	3.75
DFREX	0.57	0.08	(0.11)	0.99	0.73	(0.65)	1.66	(1.25)	4.39
FREEX	0.57	0.08	(0.12)	0.89	0.71	(0.66)	1.63	(1.18)	4.34
SEIRX	0.55	(0.05)	(0.13)	0.12	0.74	(0.58)	1.37	(1.19)	4.28

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Guidepath Income Correlations

Guidepath Income Correlation With Market

Average diversification

Moving together with Guidepath Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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