Guidepath Income Correlations

GPINX Fund

USD 8.53 0.03 0.35%

The current 90-days correlation between Guidepath Income and Fidelity Advisor Financial is -0.07 (i.e., Good 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

Significant diversification

The correlation between Guidepath Income and DJI is 0.01 (i.e., Significant 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

0.65	GPICX	Guidepath Conservative	Pair Corr
0.77	MWTNX	Metropolitan West Total	Pair Corr
0.74	MWTSX	Metropolitan West Total	Pair Corr
0.73	PTTPX	Pimco Total Return	Pair Corr
0.77	PTRRX	Total Return	Pair Corr
0.77	PTRAX	Total Return	Pair Corr
0.76	PTTRX	Total Return	Pair Corr
0.73	FIWGX	Strategic Advisers	Pair Corr
0.73	DODIX	Dodge Income	Pair Corr
0.73	MWTIX	Metropolitan West Total	Pair Corr
0.71	MWTRX	Metropolitan West Total	Pair Corr
0.63	GSAWX	Goldman Sachs Long	Pair Corr
0.9	RCBEX	American Funds Porate	Pair Corr

Related Correlations Analysis

	FIKBX	PGFMX	GCGXX	GCFSX	SBFAX	DVFYX	MSVIX
FIKBX		0.93	-0.31	0.52	0.51	0.86	0.98	FIKBX
PGFMX	0.93		-0.34	0.48	0.42	0.83	0.95	PGFMX
GCGXX	-0.31	-0.34		0.38	0.35	-0.06	-0.34	GCGXX
GCFSX	0.52	0.48	0.38		0.92	0.57	0.49	GCFSX
SBFAX	0.51	0.42	0.35	0.92		0.61	0.44	SBFAX
DVFYX	0.86	0.83	-0.06	0.57	0.61		0.84	DVFYX
MSVIX	0.98	0.95	-0.34	0.49	0.44	0.84		MSVIX
	FIKBX	PGFMX	GCGXX	GCFSX	SBFAX	DVFYX	MSVIX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

MSVIX	+ 0.98	FIKBX
MSVIX	+ 0.95	PGFMX
PGFMX	+ 0.93	FIKBX
SBFAX	+ 0.92	GCFSX
DVFYX	+ 0.86	FIKBX
MSVIX	+ 0.84	DVFYX

High negative correlations

MSVIX	- 0.34	GCGXX
GCGXX	- 0.34	PGFMX
GCGXX	- 0.31	FIKBX
DVFYX	- 0.06	GCGXX

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
FIKBX	0.71	0.25	(0.01)	(1.69)	0.70	(0.77)	1.88	(1.03)	5.60
PGFMX	0.28	0.08	(0.28)	3.01	0.16	(0.33)	0.58	(0.64)	2.00
GCGXX	0.03	(0.01)	0.00	0.12	0.00	0.00	0.00	0.00	1.01
GCFSX	0.66	0.33	0.07	(1.73)	0.32	(0.79)	1.94	(1.19)	3.94
SBFAX	0.65	(0.06)	(0.09)	0.17	0.55	(0.77)	1.87	(0.99)	5.39
DVFYX	0.65	0.05	(0.01)	0.29	0.56	(0.74)	1.62	(1.08)	5.14
MSVIX	0.77	0.21	(0.04)	(1.98)	0.78	(0.88)	1.49	(1.33)	5.72

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