Guidepath Multi Correlations

GPMIX Fund

USD 11.41 0.03 0.26%

The current 90-days correlation between Guidepath Multi Asset and Guidepath Absolute Return is 0.63 (i.e., Poor diversification). The correlation of Guidepath Multi 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 Multi Correlation With Market

Very poor diversification

The correlation between Guidepath Multi Asset Income and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guidepath Multi Asset 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 Multi Asset 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 gross domestic product.

Moving together with Guidepath Mutual Fund

0.94	GPARX	Guidepath Absolute Return	Pair Corr
0.88	GPICX	Guidepath Conservative	Pair Corr
0.96	GPIFX	Guidepath Flexible Income	Pair Corr
1.0	GPIGX	Guidepath Growth And	Pair Corr
0.61	GPINX	Guidepath Income	Pair Corr
0.99	FBONX	American Funds American	Pair Corr
0.99	FBAFX	American Funds American	Pair Corr
0.97	ABALX	American Balanced	Pair Corr
0.98	BALCX	American Balanced	Pair Corr
0.99	BALFX	American Balanced	Pair Corr
0.98	RLBCX	American Balanced	Pair Corr
0.99	RLBBX	American Balanced	Pair Corr
0.98	CLBAX	American Balanced	Pair Corr
0.99	CLBEX	American Balanced	Pair Corr
0.99	RLBFX	American Balanced	Pair Corr
0.97	CPAYX	Columbia Pacific/asia	Pair Corr
0.97	CASAX	Columbia Pacific/asia	Pair Corr
0.99	CASCX	Columbia Pacificasia	Pair Corr
0.96	MSHLX	Growth Portfolio Class Steady Growth	Pair Corr
0.97	MSKLX	Mid Cap Growth	Pair Corr
0.96	CISGX	Touchstone Sands Capital	Pair Corr
0.99	LZUSX	Lazard Strategic Equity	Pair Corr
0.94	AFDVX	Applied Finance Explorer	Pair Corr
0.82	MMBEX	Massmutual Select	Pair Corr
0.96	RTNSX	Tax-managed International	Pair Corr
0.98	RGLIX	Allianzgi Global Natural	Pair Corr
0.99	DHPYX	Diamond Hill Mid	Pair Corr
0.98	RIFYX	Victory Rs Science	Pair Corr
0.99	RGTFX	American Funds Global	Pair Corr
0.97	GERCX	Goldman Sachs Emerging	Pair Corr
0.94	GRSPX	Greenspring Fund Retail	Pair Corr
0.94	GOVIX	Gmo Resources	Pair Corr
0.96	GQGIX	Gqg Partners Emerg	Pair Corr
0.97	STAFX	Wells Fargo Large	Pair Corr
0.99	PDSIX	Prudential Qma Stock	Pair Corr

Moving against Guidepath Mutual Fund

0.33	GPMFX	Guidepath Managed Futures	Pair Corr
0.35	AREAX	Ab Global Real	Pair Corr

Related Correlations Analysis

	GPARX	GPICX	GPIFX	GPIGX	GPINX	GPMFX	GPMIX
GPARX		0.94	0.98	0.92	0.84	-0.15	0.94	GPARX
GPICX	0.94		0.95	0.86	0.81	0.0	0.88	GPICX
GPIFX	0.98	0.95		0.95	0.75	-0.22	0.96	GPIFX
GPIGX	0.92	0.86	0.95		0.58	-0.34	1.0	GPIGX
GPINX	0.84	0.81	0.75	0.58		0.26	0.61	GPINX
GPMFX	-0.15	0.0	-0.22	-0.34	0.26		-0.33	GPMFX
GPMIX	0.94	0.88	0.96	1.0	0.61	-0.33		GPMIX
	GPARX	GPICX	GPIFX	GPIGX	GPINX	GPMFX	GPMIX

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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

GPMIX	+ 1.0	GPIGX
GPIFX	+ 0.98	GPARX
GPMIX	+ 0.96	GPIFX
GPIFX	+ 0.95	GPICX
GPIGX	+ 0.95	GPIFX
GPICX	+ 0.94	GPARX

High negative correlations

GPMFX	- 0.34	GPIGX
GPMIX	- 0.33	GPMFX
GPMFX	- 0.22	GPIFX
GPMFX	- 0.15	GPARX
GPMFX	- 0.0	GPICX

Risk-Adjusted Indicators

There is a big difference between Guidepath Mutual Fund performing well and Guidepath Multi 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 Multi'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
GPARX	0.15	0.02	(0.45)	0.29	0.00	(0.21)	0.32	(0.32)	0.75
GPICX	0.04	0.00	(1.17)	(0.35)	0.00	(0.10)	0.10	(0.10)	0.21
GPIFX	0.10	0.02	(0.73)	0.41	0.00	(0.15)	0.23	(0.12)	0.58
GPIGX	0.50	0.04	(0.02)	0.21	0.43	(0.58)	1.26	(0.99)	3.05
GPINX	0.23	0.01	(0.40)	0.22	0.20	(0.27)	0.47	(0.47)	1.07
GPMFX	0.32	0.00	0.00	0.10	0.00	0.00	0.62	(0.91)	2.75
GPMIX	0.32	0.05	(0.07)	0.27	0.13	(0.37)	0.82	(0.71)	2.22

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