Guidepath(r) Absolute Correlations

GPARX Fund

USD 9.80 0.02 0.20%

The current 90-days correlation between Guidepath Absolute Return and Champlain Small is 0.13 (i.e., Average 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

Average diversification

The correlation between Guidepath Absolute Return and DJI is 0.1 (i.e., Average 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

0.97	GPIFX	Guidepath Flexible Income	Pair Corr
0.94	GPINX	Guidepath Income	Pair Corr
0.76	GPMFX	Guidepath Managed Futures	Pair Corr
0.77	VBIRX	Vanguard Short Term	Pair Corr
0.74	VFSUX	Vanguard Short Term	Pair Corr
0.89	VFSIX	Vanguard Short Term	Pair Corr
0.89	VFSTX	Vanguard Short Term	Pair Corr
0.83	VBITX	Vanguard Short Term	Pair Corr
0.83	VBISX	Vanguard Short Term	Pair Corr
0.72	LALDX	Lord Abbett Short	Pair Corr
0.94	VSCSX	Vanguard Short Term	Pair Corr
0.69	LDLAX	Lord Abbett Short	Pair Corr
0.72	LDLRX	Lord Abbett Short	Pair Corr
0.69	AAAMX	American Century One	Pair Corr

Moving against Guidepath(r) Mutual Fund

0.32	KSOCX	Kinetics Small Cap Steady Growth	Pair Corr
0.32	KSCYX	Kinetics Small Cap Steady Growth	Pair Corr
0.59	LETRX	Voya Russia Fund	Pair Corr
0.32	KSCOX	Kinetics Small Cap Steady Growth	Pair Corr
0.32	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.31	KNPCX	Kinetics Paradigm Steady Growth	Pair Corr
0.31	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.31	KNPAX	Kinetics Paradigm Steady Growth	Pair Corr
0.4	FCWRX	Templeton China World	Pair Corr

Related Correlations Analysis

	CIPNX	VISGX	HRVIX	QLMSTX	PMDDX	QUAIX
CIPNX		0.94	0.97	0.95	0.94	0.87	CIPNX
VISGX	0.94		0.96	0.99	0.99	0.96	VISGX
HRVIX	0.97	0.96		0.97	0.97	0.93	HRVIX
QLMSTX	0.95	0.99	0.97		0.99	0.97	QLMSTX
PMDDX	0.94	0.99	0.97	0.99		0.95	PMDDX
QUAIX	0.87	0.96	0.93	0.97	0.95		QUAIX
	CIPNX	VISGX	HRVIX	QLMSTX	PMDDX	QUAIX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
CIPNX	0.83	0.00	0.04	0.11	0.89	(0.88)	1.72	(1.65)	7.22
VISGX	0.83	0.07	0.09	0.17	0.86	(0.96)	1.78	(1.50)	5.31
HRVIX	0.82	(0.03)	0.02	0.10	0.73	(0.90)	1.63	(1.41)	7.46
QLMSTX	0.88	0.01	0.04	0.12	0.96	(0.93)	1.93	(1.65)	6.85
PMDDX	0.72	0.01	0.03	0.12	0.65	(0.86)	1.61	(1.31)	5.22
QUAIX	0.94	0.02	0.05	0.13	1.03	(1.00)	1.92	(2.14)	6.76

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