Grandeur Peak Correlations

GPEOX Fund  USD 12.30  0.01  0.08%   
The current 90-days correlation between Grandeur Peak Emerging and Grandeur Peak Emerging is 0.25 (i.e., Modest diversification). The correlation of Grandeur Peak 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.

Grandeur Peak Correlation With Market

Average diversification

The correlation between Grandeur Peak Emerging and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Grandeur Peak Emerging 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 Grandeur Peak Emerging. 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 persons.

Moving together with Grandeur Mutual Fund

  0.79GISYX Grandeur Peak InternPairCorr
  0.98GPEIX Grandeur Peak EmergingPairCorr
  0.62GPGIX Grandeur Peak GlobalPairCorr
  0.69GPGOX Grandeur Peak GlobalPairCorr
  0.83GPIIX Grandeur Peak InternPairCorr
  0.83GPIOX Grandeur Peak InternPairCorr
  0.78VEMAX Vanguard Emerging MarketsPairCorr
  0.77VEIEX Vanguard Emerging MarketsPairCorr
  0.77VEMIX Vanguard Emerging MarketsPairCorr
  0.78VEMRX Vanguard Emerging MarketsPairCorr
  0.92FWWNX American Funds NewPairCorr
  0.92FNFWX American Funds NewPairCorr
  0.89NEWFX New World FundPairCorr
  0.9NWFFX New World FundPairCorr
  0.89NEWCX New World FundPairCorr
  0.95ODVYX Oppenheimer DevelopingPairCorr
  0.88NHS Neuberger Berman HighPairCorr
  0.69POEIX Origin Emerging MarketsPairCorr
  0.87BLSIX Blackrock EmergingPairCorr

Moving against Grandeur Mutual Fund

  0.38GUSYX Grandeur Peak StalwartsPairCorr
  0.64CLM Cornerstone StrategicPairCorr
  0.55PRUFX T Rowe PricePairCorr
  0.54PASVX T Rowe PricePairCorr
  0.51PNDIX Pender Real EstatePairCorr
  0.46VISVX Vanguard Small CapPairCorr
  0.4AMONX Aqr Large CapPairCorr
  0.39NSFKX Natixis SustainablePairCorr
  0.37VFINX Vanguard 500 IndexPairCorr
  0.37VFIAX Vanguard 500 IndexPairCorr
  0.37JCE Nuveen Core EquityPairCorr
  0.35NWGSX Nationwide Highmark SmallPairCorr
  0.33DRGTX Allianzgi TechnologyPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Grandeur Mutual Fund performing well and Grandeur Peak 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 Grandeur Peak'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.