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 0.17 (i.e., Average 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

Significant diversification

The correlation between Grandeur Peak Emerging 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 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

  0.79GISOX Grandeur Peak InternPairCorr
  0.79GISYX Grandeur Peak InternPairCorr
  0.98GPEIX Grandeur Peak EmergingPairCorr
  0.62GPGIX Grandeur Peak GlobalPairCorr
  0.62GPGOX Grandeur Peak GlobalPairCorr
  0.76GPIIX Grandeur Peak InternPairCorr
  0.76GPIOX Grandeur Peak InternPairCorr
  0.62GPROX Grandeur Peak GlobalPairCorr
  0.76VEMAX Vanguard Emerging MarketsPairCorr
  0.74VEIEX Vanguard Emerging MarketsPairCorr
  0.74VEMIX Vanguard Emerging MarketsPairCorr
  0.74VEMRX Vanguard Emerging MarketsPairCorr
  0.89FWWNX American Funds NewPairCorr
  0.9FNFWX American Funds NewPairCorr
  0.86NEWFX New World FundPairCorr
  0.86NWFFX New World FundPairCorr
  0.86NEWCX New World FundPairCorr
  0.92ODVYX Oppenheimer DevelopingPairCorr
  0.86NHS Neuberger Berman HighPairCorr
  0.68POEIX Origin Emerging MarketsPairCorr

Moving against Grandeur Mutual Fund

  0.36GUSYX Grandeur Peak StalwartsPairCorr
  0.62CLM Cornerstone StrategicPairCorr
  0.53PASVX T Rowe PricePairCorr
  0.46VISVX Vanguard Small CapPairCorr
  0.44PRUFX T Rowe PricePairCorr
  0.41PNDIX Pender Real EstatePairCorr
  0.39AMONX Aqr Large CapPairCorr
  0.38JCE Nuveen Core EquityPairCorr
  0.35VFINX Vanguard 500 IndexPairCorr
  0.35VFIAX Vanguard 500 IndexPairCorr
  0.31DRGTX Allianzgi TechnologyPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.