Grandeur Peak Correlations

GPEOX Fund  USD 12.17  0.09  0.75%   
The current 90-days correlation between Grandeur Peak Emerging and Clearbridge Energy Mlp is -0.06 (i.e., Good 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 0.23 (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

  0.62GGSOX Grandeur Peak GlobalPairCorr
  0.61GGSYX Grandeur Peak GlobalPairCorr
  0.85GISOX Grandeur Peak InternPairCorr
  0.85GISYX Grandeur Peak InternPairCorr
  1.0GPEIX Grandeur Peak EmergingPairCorr
  0.7GPGIX Grandeur Peak GlobalPairCorr
  0.7GPGOX Grandeur Peak GlobalPairCorr
  0.8GPIIX Grandeur Peak InternPairCorr
  0.8GPIOX Grandeur Peak InternPairCorr
  0.65GPRIX Grandeur Peak GlobalPairCorr
  0.66GPROX Grandeur Peak GlobalPairCorr
  0.72VEMAX Vanguard Emerging MarketsPairCorr
  0.76VEIEX Vanguard Emerging MarketsPairCorr
  0.76VEMIX Vanguard Emerging MarketsPairCorr
  0.76VEMRX Vanguard Emerging MarketsPairCorr
  0.88FWWNX American Funds NewPairCorr
  0.88FNFWX American Funds NewPairCorr
  0.89NEWFX New World FundPairCorr
  0.89NWFFX New World FundPairCorr
  0.9NEWCX New World FundPairCorr
  0.94ODVYX Oppenheimer DevelopingPairCorr
  0.7CIFRX Columbia Porate IncomePairCorr

Moving against Grandeur Mutual Fund

  0.31GUSYX Grandeur Peak StalwartsPairCorr
  0.53DPG Duff And PhelpsPairCorr
  0.51CIOCX Columbia Porate IncomePairCorr
  0.46MXMVX Great West GoldmanPairCorr
  0.33MLOZX Cohen Steers Mlp Downward RallyPairCorr
  0.32IGD Voya Global EquityPairCorr

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   
SEPCXPNRCX
DLDCXPNRCX
SEPCXDLDCX
ICBAXDLDCX
ICBAXXEMOX
DLDCXXEMOX
  
High negative correlations   
ALTEXXEMOX
ICBAXALTEX

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.