Guidepath Conservative Correlations

GPICX Fund

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The current 90-days correlation between Guidepath Conservative and Flexible Bond Portfolio is 0.08 (i.e., Significant diversification). The correlation of Guidepath Conservative 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 Conservative Correlation With Market

Average diversification

The correlation between Guidepath Conservative Income and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guidepath Conservative 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 Conservative 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 unemployment.

Moving together with Guidepath Mutual Fund

0.73	GPIFX	Guidepath Flexible Income	Pair Corr
0.65	GPINX	Guidepath Income	Pair Corr
0.65	QQMNX	Federated Hermes Mdt	Pair Corr
0.64	MISEX	Midas Special	Pair Corr

Moving against Guidepath Mutual Fund

0.61	TCTGX	Transamerica Cleartrack	Pair Corr
0.61	TDKTX	Cleartrack 2015 Class	Pair Corr
0.61	TCTJX	Transamerica Cleartrack	Pair Corr
0.59	TCSUX	Cleartrack 2020 Class	Pair Corr
0.58	PDI	Pimco Dynamic Income	Pair Corr
0.4	CESGX	Coho Relative Value	Pair Corr

Related Correlations Analysis

	JAFLX	STSEX	TFBIX	XAFBX	ARTFX	CSBCX
JAFLX		0.43	0.64	0.23	0.39	0.77	JAFLX
STSEX	0.43		0.36	-0.18	0.7	0.47	STSEX
TFBIX	0.64	0.36		0.31	0.57	0.57	TFBIX
XAFBX	0.23	-0.18	0.31		-0.34	0.24	XAFBX
ARTFX	0.39	0.7	0.57	-0.34		0.46	ARTFX
CSBCX	0.77	0.47	0.57	0.24	0.46		CSBCX
	JAFLX	STSEX	TFBIX	XAFBX	ARTFX	CSBCX

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

CSBCX	+ 0.77	JAFLX
ARTFX	+ 0.7	STSEX
TFBIX	+ 0.64	JAFLX
ARTFX	+ 0.57	TFBIX
CSBCX	+ 0.57	TFBIX
CSBCX	+ 0.47	STSEX

High negative correlations

ARTFX	- 0.34	XAFBX
XAFBX	- 0.18	STSEX

Risk-Adjusted Indicators

There is a big difference between Guidepath Mutual Fund performing well and Guidepath Conservative 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 Conservative'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
JAFLX	0.12	0.00	(0.39)	0.29	0.08	(0.16)	0.20	(0.30)	0.91
STSEX	0.49	(0.05)	(0.13)	0.01	0.58	(0.54)	0.95	(0.98)	2.35
TFBIX	0.07	0.02	(0.43)	(0.78)	0.00	(0.14)	0.20	(0.10)	0.60
XAFBX	0.14	0.00	(0.31)	0.23	0.11	(0.17)	0.25	(0.33)	1.16
ARTFX	0.09	(0.01)	(0.51)	0.02	0.00	(0.17)	0.22	(0.22)	0.66
CSBCX	0.13	0.00	(0.40)	0.01	0.14	(0.15)	0.21	(0.27)	0.75

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