Grandeur Peak Correlations

GPEOX Fund  USD 12.30  0.01  0.08%   
The current 90-days correlation between Grandeur Peak Emerging and General Money Market 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

Modest diversification

The correlation between Grandeur Peak Emerging and DJI is 0.21 (i.e., Modest 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

  0.85GISOX Grandeur Peak InternPairCorr
  0.85GISYX Grandeur Peak InternPairCorr
  1.0GPEIX Grandeur Peak EmergingPairCorr
  0.69GPGIX Grandeur Peak GlobalPairCorr
  0.69GPGOX Grandeur Peak GlobalPairCorr
  0.81GPIIX Grandeur Peak InternPairCorr
  0.81GPIOX Grandeur Peak InternPairCorr
  0.62GPRIX Grandeur Peak GlobalPairCorr
  0.62GPROX Grandeur Peak GlobalPairCorr
  0.76VEMAX Vanguard Emerging MarketsPairCorr
  0.76VEIEX Vanguard Emerging MarketsPairCorr
  0.76VEMIX Vanguard Emerging MarketsPairCorr
  0.76VEMRX Vanguard Emerging MarketsPairCorr
  0.89FWWNX American Funds NewPairCorr
  0.9FNFWX American Funds NewPairCorr
  0.9NEWFX New World FundPairCorr
  0.9NWFFX New World FundPairCorr
  0.91NEWCX New World FundPairCorr
  0.95ODVYX Oppenheimer DevelopingPairCorr
  0.88NHS Neuberger Berman HighPairCorr
  0.68POEIX Origin Emerging MarketsPairCorr

Moving against Grandeur Mutual Fund

  0.36GUSYX Grandeur Peak StalwartsPairCorr
  0.63CLM Cornerstone StrategicPairCorr
  0.52PASVX T Rowe PricePairCorr
  0.45VISVX Vanguard Small CapPairCorr
  0.42PRUFX T Rowe PricePairCorr
  0.41PNDIX Pender Real EstatePairCorr
  0.38AMONX Aqr Large CapPairCorr
  0.35VFINX Vanguard 500 IndexPairCorr
  0.35VFIAX Vanguard 500 IndexPairCorr
  0.35JCE Nuveen Core EquityPairCorr
  0.31DRGTX Allianzgi TechnologyPairCorr

Related Correlations Analysis

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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   
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FRQXXGMBXX
POIXXGMBXX
STSEXFMVUX
FMVUXGMBXX
FMVUXFRQXX
  
High negative correlations   
PBMXXSTSEX
PBMXXAEYXX
STSEXAEYXX
PBMXXPOIXX
AEYXXPOIXX
PBMXXFMVUX

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.