Guidepath Tactical Correlations

Mutual Funds . USA . 
Fund . Guidepath Tactical Allocation
GPTUX Fund  USD 13.35  0.01  0.07%   
The current 90-days correlation between Guidepath Tactical and T Rowe Price is 0.03 (i.e., Significant diversification). The correlation of Guidepath Tactical 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 Tactical Correlation With Market

Good diversification

The correlation between Guidepath Tactical Allocation and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guidepath Tactical Allocation 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 Tactical Allocation. 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 employment.

Moving together with Guidepath Mutual Fund

  0.67GMLVX Guidemark Large CapPairCorr
  0.7GMLGX Guidemark Large CapPairCorr
  0.69GMSMX Guidemark Smallmid CapPairCorr
  0.98GPSTX Guidepath Growth AllPairCorr
  0.98GPTCX Guidepath ServativePairCorr
  0.82PAALX All Asset FundPairCorr
  0.82PATRX Pimco All AssetPairCorr
  0.82PAAIX All Asset FundPairCorr
  0.82PALPX Pimco All AssetPairCorr
  0.94PASAX All Asset FundPairCorr
  0.82PASCX All Asset FundPairCorr
  0.82PAANX Pimco All AssetPairCorr
  0.92PAUPX Pimco All AssetPairCorr
  0.8PAUIX Pimco All AssetPairCorr
  0.81PFN Pimco Income StrategyPairCorr
  0.84CIF Mfs Intermediate HighPairCorr
  0.66NXJ Nuveen New JerseyPairCorr
  0.78PCF Putnam High IncomePairCorr
  0.65TVOIX Touchstone Small CapPairCorr
  0.67FIQSX Fidelity Advisor FloatingPairCorr
  0.83JSAIX Jpmorgan SmartretirementPairCorr
  0.7PJGRX Prudential JennisonPairCorr
  0.82TWGIX Growth Fund IPairCorr
  0.66GSSRX Goldman Sachs ShortPairCorr
  0.66OEMNX Ophmr Eml DbtPairCorr
  0.83RYTNX Sp 500 2xPairCorr
  0.68TGWRX Transamerica Large GrowthPairCorr
  0.67JNBSX Jpmorgan Income BuilderPairCorr
  0.83GCBLX Green Century BalancedPairCorr
  0.84PSLDX Pimco Stocksplus LongPairCorr
  0.65DSTIX Dreyfus Short TermPairCorr
  0.83FISPX Federated Max CapPairCorr
  0.73VFFSX Vanguard 500 IndexPairCorr

Moving against Guidepath Mutual Fund

  0.34XDSMX Dreyfus StrategicPairCorr
  0.42XNBHX Neuberger Berman IntPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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