Guidepath(r) Absolute Correlations

Mutual Funds . USA . 
Fund . Guidepath Absolute Return
GPARX Fund  USD 9.57  0.01  0.10%   
The current 90-days correlation between Guidepath Absolute Return and Queens Road Small is 0.41 (i.e., Very weak diversification). The correlation of Guidepath(r) Absolute 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(r) Absolute Correlation With Market

Very weak diversification

The correlation between Guidepath Absolute Return and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guidepath Absolute Return 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 Absolute Return. 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 metropolitan statistical area.

Moving together with Guidepath(r) Mutual Fund

  0.94GPICX Guidepath ConservativePairCorr
  0.98GPIFX Guidepath Flexible IncomePairCorr
  0.92GPIGX Guidepath Growth AndPairCorr
  0.83GPINX Guidepath IncomePairCorr
  0.94GPMIX Guidepath Multi AssetPairCorr
  0.88VBIRX Vanguard Short TermPairCorr
  0.89VFSUX Vanguard Short TermPairCorr
  0.98VFSIX Vanguard Short TermPairCorr
  0.98VFSTX Vanguard Short TermPairCorr
  0.94VBITX Vanguard Short TermPairCorr
  0.94VBISX Vanguard Short TermPairCorr
  0.94LALDX Lord Abbett ShortPairCorr
  0.99VSCSX Vanguard Short TermPairCorr
  0.97LDLAX Lord Abbett ShortPairCorr
  0.95LDLRX Lord Abbett ShortPairCorr
  0.91SMPIX Semiconductor Ultrasector Steady GrowthPairCorr
  0.91SMPSX Semiconductor Ultrasector Steady GrowthPairCorr
  0.91TTEEX T Rowe PricePairCorr
  0.91TREMX T Rowe PricePairCorr
  0.92FIKGX Fidelity Advisor SemPairCorr
  0.92ONERX One Rock Fund Steady GrowthPairCorr
  0.92FELCX Fidelity Advisor SemPairCorr
  0.92FELIX Fidelity Advisor SemPairCorr
  0.92FSELX Fidelity Select SemiPairCorr
  0.92FELAX Fidelity Advisor SemPairCorr
  0.87VSMAX Vanguard Small CapPairCorr
  0.89JGECX Jhancock Global EquityPairCorr
  0.95FAPTX American Funds 2025PairCorr
  0.95LIRIX Blackrock Lifepath IdxPairCorr
  0.9GSCGX Goldman Sachs CapitalPairCorr
  0.91JGVVX Jpmorgan Growth AdvantagePairCorr
  0.82FGSCX Federated Mdt MidPairCorr
  0.81ANDIX Aqr InternationalPairCorr
  0.9ARFVX One Choice 2050PairCorr
  0.9CAFCX Amcap Fund ClassPairCorr
  0.84FIIAX Fidelity Advisor MidPairCorr
  0.92SMCHX Alpssmith Total ReturnPairCorr
  0.9FLRAX Nuveen Large CapPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Guidepath(r) Mutual Fund performing well and Guidepath(r) Absolute 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(r) Absolute'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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