Guidepath Managed Correlations

Mutual Funds . USA . 
Fund . Guidepath Managed Futures
GPMFX Fund  USD 6.93  0.04  0.57%   
The current 90-days correlation between Guidepath Managed Futures and T Rowe Price is -0.05 (i.e., Good diversification). The correlation of Guidepath Managed 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 Managed Correlation With Market

Very weak diversification

The correlation between Guidepath Managed Futures and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guidepath Managed Futures 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 Managed Futures. 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 price.

Moving together with Guidepath Mutual Fund

  0.9GPARX Guidepath Absolute ReturnPairCorr
  0.9GPICX Guidepath ConservativePairCorr
  0.92GPIFX Guidepath Flexible IncomePairCorr
  0.89GPIGX Guidepath Growth AndPairCorr
  0.87GPINX Guidepath IncomePairCorr
  0.87GPMIX Guidepath Multi AssetPairCorr
  0.95AQMRX Aqr Managed FuturesPairCorr
  0.96PQTAX Pimco Trends ManagedPairCorr
  0.97PQTNX Pimco Trends ManagedPairCorr
  0.99AHLPX American Beacon AhlPairCorr
  1.0AMFNX Asg Managed FuturesPairCorr
  0.96ABYAX Abbey Capital FuturesPairCorr
  0.99ABYIX Abbey Capital FuturesPairCorr
  0.99ABYCX Abbey Capital FuturesPairCorr
  0.97AMFAX Asg Managed FuturesPairCorr
  1.0ASFCX Asg Managed FuturesPairCorr
  0.69PFN Pimco Income StrategyPairCorr
  0.92XDSMX Dreyfus StrategicPairCorr
  0.9XNXJX Nuveen New JerseyPairCorr
  0.95NXJ Nuveen New JerseyPairCorr
  0.9XNBHX Neuberger Berman IntPairCorr
  0.89FSMAX Fidelity Extended MarketPairCorr
  0.87TQCAX Touchstone DividendPairCorr
  0.93PTTEX Putnam Global TechnologyPairCorr
  0.93OGEAX Jpmorgan Equity IndexPairCorr
  0.95NINDX Columbia Large CapPairCorr
  0.88MKCMX Blackrock CaliforniaPairCorr
  0.89HBLSX Hartford BalancedPairCorr
  0.85VGSBX Vy Goldman SachsPairCorr
  0.96JGHTX J Hancock IiPairCorr
  0.94PGOFX Pioneer Select MidPairCorr
  0.91STBCX Invesco Short TermPairCorr
  0.94PSLDX Pimco Stocksplus LongPairCorr
  0.72JERIX Janus Global RealPairCorr
  0.89DBLNX Doubleline IncomePairCorr
  0.88FTGLX Federated Total ReturnPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Guidepath Mutual Fund performing well and Guidepath Managed 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 Managed'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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