Equity Index Correlations

Mutual Funds . USA . 
Fund . Equity Index Institutional
GEQYX Fund  USD 64.48  0.20  0.31%   
The current 90-days correlation between Equity Index Institu and Growth Equity Investor is 0.92 (i.e., Almost no diversification). The correlation of Equity Index 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.

Equity Index Correlation With Market

Very poor diversification

The correlation between Equity Index Institutional and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Equity Index Institutional 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 Equity Index Institutional. 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 commodities.

Moving together with Equity Mutual Fund

  0.99GCOZX Growth AllocationPairCorr
  0.98GDMYX Defensive Market StrPairCorr
  1.0GDMZX Defensive Market StrPairCorr
  0.95GVEYX Value Equity InstituPairCorr
  0.95GVEZX Value Equity InvestorPairCorr
  0.92GVIYX Guidestone Value EquityPairCorr
  0.99GEIYX Guidestone Growth EquityPairCorr
  0.99GEIZX Guidestone Growth EquityPairCorr
  0.97GEMYX Emerging Markets EquityPairCorr
  0.97GEMZX Emerging Markets EquityPairCorr
  1.0GEQZX Equity Index InvestorPairCorr
  0.97GFIZX Conservative AllocationPairCorr
  0.97GGBZX Aggressive AllocationPairCorr
  0.85GGBEX Global Bond FundPairCorr
  0.99GGEYX Guidestone Fds GrowthPairCorr
  0.99GGEZX Growth Equity InvestorPairCorr
  0.99GGRYX Growth AllocationPairCorr
  0.79GIEYX International EquityPairCorr
  0.79GIEZX International EquityPairCorr
  0.84GIIYX International EquityPairCorr
  0.81GIIZX Guidestone Funds IntPairCorr
  0.92GLDYX Low Duration BondPairCorr
  0.92GLDZX Low Duration BondPairCorr
  0.89GMDYX Medium Duration BondPairCorr
  0.89GMDZX Medium Duration BondPairCorr
  0.83GMBZX Guidestone FundsPairCorr
  0.97GMFZX Mydestination 2045PairCorr
  0.99GMHYX Mydestination 2035PairCorr
  0.97GMHZX Mydestination 2035PairCorr
  0.99GMGYX Mydestination 2055PairCorr
  0.99GMGZX Mydestination 2055PairCorr
  0.97GMTYX Mydestination 2015PairCorr
  0.97GMTZX Mydestination 2015PairCorr
  0.99GMWYX Mydestination 2025PairCorr
  0.97GMWZX Mydestination 2025PairCorr
  0.99GMYYX Mydestination 2045PairCorr

Moving against Equity Mutual Fund

  0.33GFSZX Strategic AlternativesPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Equity Mutual Fund performing well and Equity Index 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 Equity Index'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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