Guggenheim Active Correlations

GUG Stock

USD 15.31 0.02 0.13%

The current 90-days correlation between Guggenheim Active and Blackstone Gso Strategic is 0.06 (i.e., Significant diversification). The correlation of Guggenheim Active 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.

Guggenheim Active Correlation With Market

Weak diversification

The correlation between Guggenheim Active Allocation and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guggenheim Active Allocation and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Guggenheim Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Guggenheim Active Allocation. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with Guggenheim Stock

0.75	MFG	Magellan Financial	Pair Corr
0.64	PNI	Pinnacle Investment	Pair Corr

Moving against Guggenheim Stock

0.36	DFN	Dividend 15 Split	Pair Corr
0.33	VINP	Vinci Partners Inves	Pair Corr

Related Correlations Analysis

	BGB	ALZFX	DIAX	NPFD	NMAI	IEMFX	GHY	EWMCX	NXJ	NWXQX
BGB		-0.01	0.51	-0.06	0.03	-0.19	0.38	0.43	-0.29	0.22	BGB
ALZFX	-0.01		-0.06	0.6	0.26	0.53	0.1	0.4	-0.1	0.4	ALZFX
DIAX	0.51	-0.06		0.03	0.58	0.22	-0.05	0.68	0.4	0.16	DIAX
NPFD	-0.06	0.6	0.03		0.29	0.46	0.32	0.5	-0.21	0.45	NPFD
NMAI	0.03	0.26	0.58	0.29		0.59	-0.31	0.46	0.68	0.22	NMAI
IEMFX	-0.19	0.53	0.22	0.46	0.59		-0.06	0.39	0.35	0.16	IEMFX
GHY	0.38	0.1	-0.05	0.32	-0.31	-0.06		0.3	-0.76	0.08	GHY
EWMCX	0.43	0.4	0.68	0.5	0.46	0.39	0.3		-0.06	0.56	EWMCX
NXJ	-0.29	-0.1	0.4	-0.21	0.68	0.35	-0.76	-0.06		-0.16	NXJ
NWXQX	0.22	0.4	0.16	0.45	0.22	0.16	0.08	0.56	-0.16		NWXQX
	BGB	ALZFX	DIAX	NPFD	NMAI	IEMFX	GHY	EWMCX	NXJ	NWXQX

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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

EWMCX	+ 0.68	DIAX
NXJ	+ 0.68	NMAI
NPFD	+ 0.6	ALZFX
IEMFX	+ 0.59	NMAI
NMAI	+ 0.58	DIAX
NWXQX	+ 0.56	EWMCX

High negative correlations

NXJ	- 0.76	GHY
GHY	- 0.31	NMAI
NXJ	- 0.29	BGB
NXJ	- 0.21	NPFD
IEMFX	- 0.19	BGB
NWXQX	- 0.16	NXJ

Risk-Adjusted Indicators

There is a big difference between Guggenheim Stock performing well and Guggenheim Active Company 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 Guggenheim Active'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
BGB	0.38	(0.04)	0.00	(0.43)	0.00	0.00	0.69	(0.93)	2.31
ALZFX	1.22	(0.12)	0.00	(0.05)	0.00	0.00	2.24	(2.89)	13.03
DIAX	0.51	0.07	0.03	0.51	0.46	(0.54)	0.97	(0.91)	3.56
NPFD	0.36	(0.03)	0.00	(0.36)	0.00	0.00	0.62	(0.78)	1.92
NMAI	0.50	0.04	(0.04)	(0.20)	0.70	(0.50)	0.96	(1.22)	3.47
IEMFX	0.80	(0.01)	(0.01)	0.05	1.09	(0.84)	1.50	(1.43)	5.80
GHY	0.50	(0.07)	0.00	(3.31)	0.00	0.00	1.00	(0.89)	2.80
EWMCX	0.63	(0.01)	(0.06)	(0.03)	0.94	(0.57)	1.31	(1.36)	3.49
NXJ	0.35	0.08	0.07	3.24	0.09	(0.43)	1.04	(0.64)	2.27
NWXQX	0.92	(0.13)	0.00	(0.92)	0.00	0.00	1.89	(1.83)	12.79

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