Gugg Actv Correlations

GULDX Fund

19.94 0.01 0.05%

The current 90-days correlation between Gugg Actv Invmt and Guggenheim Directional Allocation is 0.04 (i.e., Significant diversification). The correlation of Gugg Actv 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.

Gugg Actv Correlation With Market

Significant diversification

The correlation between Gugg Actv Invmt and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gugg Actv Invmt 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 Gugg Actv Invmt. 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 consumer price index.

Moving together with Gugg Mutual Fund

0.61	TVRCX	Guggenheim Directional	Pair Corr
0.62	TVRAX	Guggenheim Directional	Pair Corr
0.65	TVRIX	Guggenheim Directional	Pair Corr
0.77	GUCPX	Gugg Actv Invmt	Pair Corr
0.62	SECEX	Guggenheim Styleplus	Pair Corr
0.61	SECIX	Guggenheim Large Cap	Pair Corr
0.62	GIBIX	Guggenheim Total Return	Pair Corr
0.76	GIFPX	Guggenheim Floating Rate	Pair Corr
0.77	GIFSX	Guggenheim Floating Rate	Pair Corr
0.76	GIFAX	Guggenheim Floating Rate	Pair Corr
0.71	GIFCX	Guggenheim Floating Rate	Pair Corr
0.77	GIFIX	Guggenheim Floating Rate	Pair Corr
0.67	GIJAX	Guggenheim Municipal	Pair Corr
0.65	GIJCX	Guggenheim Municipal	Pair Corr
0.68	GIJIX	Guggenheim Municipal	Pair Corr
0.8	GIJPX	Guggenheim Municipal	Pair Corr
0.7	GILCX	Guggenheim Large Cap	Pair Corr
0.87	GILDX	Guggenheim Limited	Pair Corr
0.88	GILHX	Guggenheim Limited	Pair Corr
0.65	GILIX	Guggenheim Styleplus	Pair Corr
0.88	GILPX	Guggenheim Limited	Pair Corr
0.87	GIOAX	Guggenheim Macro Opp	Pair Corr
0.86	GIOCX	Guggenheim Macro Opp	Pair Corr
0.87	GIOIX	Guggenheim Macro Opp	Pair Corr

Moving against Gugg Mutual Fund

0.49	SECUX	Guggenheim Styleplus	Pair Corr
0.45	SUFCX	Guggenheim Styleplus	Pair Corr
0.44	GIUIX	Guggenheim Styleplus	Pair Corr

Related Correlations Analysis

	TVRCX	TVRAX	TVRIX	SIUPX	SIUSX	GUCPX	GULDX	SAOIX	SAOAX
TVRCX		1.0	0.83	0.55	0.55	0.64	0.61	0.13	-0.03	TVRCX
TVRAX	1.0		0.83	0.55	0.56	0.65	0.62	0.13	-0.03	TVRAX
TVRIX	0.83	0.83		0.65	0.65	0.68	0.65	0.0	-0.13	TVRIX
SIUPX	0.55	0.55	0.65		0.99	0.9	0.54	0.27	0.17	SIUPX
SIUSX	0.55	0.56	0.65	0.99		0.91	0.55	0.27	0.16	SIUSX
GUCPX	0.64	0.65	0.68	0.9	0.91		0.77	0.11	0.0	GUCPX
GULDX	0.61	0.62	0.65	0.54	0.55	0.77		-0.15	-0.19	GULDX
SAOIX	0.13	0.13	0.0	0.27	0.27	0.11	-0.15		0.66	SAOIX
SAOAX	-0.03	-0.03	-0.13	0.17	0.16	0.0	-0.19	0.66		SAOAX
	TVRCX	TVRAX	TVRIX	SIUPX	SIUSX	GUCPX	GULDX	SAOIX	SAOAX

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

TVRAX	+ 1.0	TVRCX
SIUSX	+ 0.99	SIUPX
GUCPX	+ 0.91	SIUSX
GUCPX	+ 0.9	SIUPX
TVRIX	+ 0.83	TVRCX
TVRIX	+ 0.83	TVRAX

High negative correlations

SAOAX	- 0.19	GULDX
SAOIX	- 0.15	GULDX
SAOAX	- 0.13	TVRIX
SAOAX	- 0.03	TVRAX
SAOAX	- 0.03	TVRCX
SAOAX	- 0.0	GUCPX

Risk-Adjusted Indicators

There is a big difference between Gugg Mutual Fund performing well and Gugg Actv 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 Gugg Actv'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
TVRCX	0.46	(0.01)	(0.04)	0.05	0.70	(0.42)	0.97	(1.09)	2.65
TVRAX	0.47	(0.01)	(0.04)	0.05	0.71	(0.43)	0.91	(1.12)	2.69
TVRIX	0.47	0.01	(0.06)	0.16	0.70	(0.45)	0.97	(1.16)	2.70
SIUPX	0.15	0.00	(0.31)	(0.06)	0.16	(0.16)	0.30	(0.30)	0.91
SIUSX	0.15	0.00	(0.31)	(0.03)	0.16	(0.17)	0.30	(0.24)	0.91
GUCPX	0.13	0.00	(0.39)	0.08	0.09	(0.14)	0.29	(0.20)	0.84
GULDX	0.06	0.01	(0.74)	2.54	0.00	(0.12)	0.10	(0.05)	0.61
SAOIX	0.42	(0.04)	0.00	(0.03)	0.00	0.00	0.78	(0.85)	2.74
SAOAX	0.42	0.00	(0.12)	0.06	0.57	(0.40)	0.81	(0.84)	2.75

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