Guidepath Flexible Correlations

Mutual Funds . USA . 
Fund . Guidepath Flexible Income
GPIFX Fund  USD 8.71  0.01  0.11%   
The current 90-days correlation between Guidepath Flexible Income and Allianzgi Convertible Income is 0.47 (i.e., Very weak diversification). The correlation of Guidepath Flexible 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 Flexible Correlation With Market

Very good diversification

The correlation between Guidepath Flexible Income and DJI is -0.27 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guidepath Flexible 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 Flexible 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 census.

Moving together with Guidepath Mutual Fund

  0.86GPARX Guidepath Absolute ReturnPairCorr
  0.8GPICX Guidepath ConservativePairCorr
  0.75GPIGX Guidepath Growth AndPairCorr
  0.69GPINX Guidepath IncomePairCorr
  0.75GPMIX Guidepath Multi AssetPairCorr
  0.75PAALX All Asset FundPairCorr
  0.74PATRX Pimco All AssetPairCorr
  0.75PAAIX All Asset FundPairCorr
  0.75PALPX Pimco All AssetPairCorr
  0.72PASAX All Asset FundPairCorr
  0.74PASCX All Asset FundPairCorr
  0.75PAANX Pimco All AssetPairCorr
  0.76PAUPX Pimco All AssetPairCorr
  0.76PAUIX Pimco All AssetPairCorr
  0.67WARRX Wells Fargo AdvantagePairCorr
  0.78VTSAX Vanguard Total StockPairCorr
  0.77VFIAX Vanguard 500 IndexPairCorr
  0.77VTSMX Vanguard Total StockPairCorr
  0.79VSMPX Vanguard Total StockPairCorr
  0.79VSTSX Vanguard Total StockPairCorr
  0.77VITSX Vanguard Total StockPairCorr
  0.78VFINX Vanguard 500 IndexPairCorr
  0.79VFFSX Vanguard 500 IndexPairCorr
  0.69VGTSX Vanguard Total InterPairCorr
  0.72VTIAX Vanguard Total InterPairCorr
  0.77FGTKX Fidelity Freedom 2030PairCorr
  0.79LCCCX Columbia Trarian CorePairCorr
  0.86CKKRX Columbia Income BuilderPairCorr
  0.78JDPAX Perkins Mid CapPairCorr
  0.69RIERX Rbc International EquityPairCorr
  0.8SCRSX Small Cap CorePairCorr
  0.9LGRAX Lord Abbett InvestmentPairCorr
  0.73AOVIX One Choice PortfolioPairCorr
  0.8TACIX Transamerica AssetPairCorr
  0.75CWSHX Carillon Chartwell SmallPairCorr
  0.62TGREX Tcw Global RealPairCorr
  0.71GICUX Goldman Sachs InternPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

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