Guidepath Managed Correlations

GPMFX Fund

USD 7.78 0.01 0.13%

The current 90-days correlation between Guidepath Managed Futures and Investec Emerging Markets is 0.27 (i.e., Modest 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

Good diversification

The correlation between Guidepath Managed Futures and DJI is -0.05 (i.e., Good 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 census.

Moving together with Guidepath Mutual Fund

0.64	GPARX	Guidepath Absolute Return	Pair Corr
0.76	GPINX	Guidepath Income	Pair Corr
0.86	PQTAX	Pimco Trends Managed	Pair Corr
0.86	PQTNX	Pimco Trends Managed	Pair Corr
0.94	AMFNX	Asg Managed Futures	Pair Corr
0.87	ABYCX	Abbey Capital Futures	Pair Corr
0.87	ABYAX	Abbey Capital Futures	Pair Corr
0.86	ABYIX	Abbey Capital Futures	Pair Corr
0.99	AMFAX	Asg Managed Futures	Pair Corr
0.93	ASFYX	Asg Managed Futures	Pair Corr

Moving against Guidepath Mutual Fund

0.68	PYAIX	Payden Absolute Return	Pair Corr
0.66	FTCAX	Templeton Strained Bond	Pair Corr
0.53	GPIGX	Guidepath Growth And	Pair Corr
0.49	GPICX	Guidepath Conservative	Pair Corr
0.68	PYARX	Payden Absolute Return	Pair Corr
0.65	XNDPX	Tortoise Energy Inde	Pair Corr
0.63	RLSIX	Riverpark Long/short	Pair Corr
0.63	EGLAX	Eagle Mlp Strategy Steady Growth	Pair Corr
0.61	AMONX	Aqr Large Cap	Pair Corr
0.6	DLCIX	Dana Large Cap	Pair Corr
0.59	LMISX	Qs Large Cap	Pair Corr
0.59	BITW	Bitwise 10 Crypto Trending	Pair Corr
0.56	RGAGX	Growth Fund	Pair Corr
0.55	ARDEX	Amg River Road	Pair Corr
0.54	VFINX	Vanguard 500 Index	Pair Corr
0.54	VEIRX	Vanguard Equity Income	Pair Corr
0.53	BCAAX	Brandywineglobal C	Pair Corr
0.47	VVIAX	Vanguard Value Index	Pair Corr
0.42	FBALX	Fidelity Balanced	Pair Corr
0.38	VAAGX	Virtus Nfj Large	Pair Corr
0.36	SCRYX	Small Cap Core	Pair Corr

Related Correlations Analysis

	ZEMIX	SEKRX	DBELX	PIEFX	RYCCX
ZEMIX		0.98	0.0	0.98	0.63	ZEMIX
SEKRX	0.98		0.11	0.97	0.57	SEKRX
DBELX	0.0	0.11		-0.1	-0.43	DBELX
PIEFX	0.98	0.97	-0.1		0.67	PIEFX
RYCCX	0.63	0.57	-0.43	0.67		RYCCX
	ZEMIX	SEKRX	DBELX	PIEFX	RYCCX

Click cells to compare fundamentals

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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

SEKRX	+ 0.98	ZEMIX
PIEFX	+ 0.98	ZEMIX
PIEFX	+ 0.97	SEKRX
RYCCX	+ 0.67	PIEFX
RYCCX	+ 0.63	ZEMIX
RYCCX	+ 0.57	SEKRX

High negative correlations

RYCCX	- 0.43	DBELX
PIEFX	- 0.1	DBELX
DBELX	- 0.0	ZEMIX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ZEMIX	0.68	0.02	(0.08)	(0.09)	0.96	(0.66)	1.48	(1.96)	4.20
SEKRX	0.78	0.00	0.00	0.12	0.00	0.00	1.85	(1.49)	5.33
DBELX	0.34	(0.06)	0.00	(0.73)	0.00	0.00	0.68	(0.68)	1.97
PIEFX	0.81	0.01	(0.09)	0.05	1.00	(0.92)	1.82	(1.45)	4.54
RYCCX	1.62	(0.06)	0.01	0.06	2.41	(1.53)	3.08	(4.84)	10.29

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