Grandeur Peak Correlations

GPEOX Fund  USD 12.30  0.01  0.08%   
The current 90-days correlation between Grandeur Peak Emerging and Guidepath Servative Allocation is 0.42 (i.e., Very weak 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

  0.86GISOX Grandeur Peak InternPairCorr
  0.85GISYX Grandeur Peak InternPairCorr
  1.0GPEIX Grandeur Peak EmergingPairCorr
  0.69GPGIX Grandeur Peak GlobalPairCorr
  0.69GPGOX Grandeur Peak GlobalPairCorr
  0.82GPIIX Grandeur Peak InternPairCorr
  0.62GPRIX Grandeur Peak GlobalPairCorr
  0.64GPROX Grandeur Peak GlobalPairCorr
  0.78VEMAX Vanguard Emerging MarketsPairCorr
  0.78VEIEX Vanguard Emerging MarketsPairCorr
  0.78VEMIX Vanguard Emerging MarketsPairCorr
  0.78VEMRX Vanguard Emerging MarketsPairCorr
  0.92FWWNX American Funds NewPairCorr
  0.92FNFWX American Funds NewPairCorr
  0.92NEWFX New World FundPairCorr
  0.92NWFFX New World FundPairCorr
  0.92NEWCX New World FundPairCorr
  0.95ODVYX Oppenheimer DevelopingPairCorr

Moving against Grandeur Mutual Fund

  0.34GUSYX Grandeur Peak StalwartsPairCorr
  0.66KNPCX Kinetics ParadigmPairCorr
  0.66KNPAX Kinetics ParadigmPairCorr
  0.66KNPYX Kinetics ParadigmPairCorr
  0.64LSHUX Horizon Spin OffPairCorr
  0.62KMKCX Kinetics Market OppoPairCorr
  0.62KSOCX Kinetics Small CapPairCorr
  0.61CLM Cornerstone Strategic Sell-off TrendPairCorr
  0.6WWNPX Kinetics ParadigmPairCorr
  0.57KSCOX Kinetics Small CapPairCorr
  0.57VISGX Vanguard Small CapPairCorr
  0.57FGRIX Fidelity Growth IncomePairCorr
  0.56KSCYX Kinetics Small CapPairCorr
  0.42FBALX Fidelity BalancedPairCorr
  0.41FPURX Fidelity PuritanPairCorr
  0.4VWENX Vanguard WellingtonPairCorr

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.