Balanced Allocation Correlations

Mutual Funds . USA . 
Fund . Balanced Allocation Fund
GBAYX Fund  USD 12.27  0.03  0.25%   
The current 90-days correlation between Balanced Allocation and Growth Allocation Fund is 0.98 (i.e., Almost no diversification). The correlation of Balanced Allocation 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.

Balanced Allocation Correlation With Market

Very poor diversification

The correlation between Balanced Allocation Fund and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Balanced Allocation Fund 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 Balanced Allocation Fund. 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 manufacturing.

Moving together with Balanced Mutual Fund

  1.0GCOZX Growth AllocationPairCorr
  1.0GDMYX Defensive Market StrPairCorr
  1.0GDMZX Defensive Market StrPairCorr
  0.94GVEYX Value Equity InstituPairCorr
  0.94GVEZX Value Equity InvestorPairCorr
  0.98GVIYX Guidestone Value EquityPairCorr
  0.98GVIZX Guidestone Value EquityPairCorr
  0.99GEIYX Guidestone Growth EquityPairCorr
  0.99GEIZX Guidestone Growth EquityPairCorr
  0.99GEMYX Emerging Markets EquityPairCorr
  0.99GEMZX Emerging Markets EquityPairCorr
  0.99GEQYX Equity Index InstituPairCorr
  1.0GFIZX Conservative AllocationPairCorr
  1.0GGBZX Aggressive AllocationPairCorr
  0.84GGBEX Global Bond FundPairCorr
  0.84GGBFX Global Bond FundPairCorr
  0.99GGEYX Guidestone Fds GrowthPairCorr
  0.99GGEZX Growth Equity InvestorPairCorr
  1.0GGIZX Balanced AllocationPairCorr
  1.0GGRYX Growth AllocationPairCorr
  0.96GIEYX International EquityPairCorr
  0.96GIEZX International EquityPairCorr
  0.97GIIYX International EquityPairCorr
  0.96GIIZX Guidestone Funds IntPairCorr
  0.91GLDYX Low Duration BondPairCorr
  0.89GLDZX Low Duration BondPairCorr
  0.79GMDYX Medium Duration BondPairCorr
  0.78GMDZX Medium Duration BondPairCorr
  1.0GMFZX Mydestination 2045PairCorr
  0.99GMEYX Guidestone Funds ImpactPairCorr
  0.99GMEZX Guidestone Funds ImpactPairCorr
  1.0GMHYX Mydestination 2035PairCorr
  1.0GMHZX Mydestination 2035PairCorr
  1.0GMGYX Mydestination 2055PairCorr
  1.0GMGZX Mydestination 2055PairCorr
  1.0GMTYX Mydestination 2015PairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Balanced Mutual Fund performing well and Balanced Allocation 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 Balanced Allocation'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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