Grandeur Peak Correlations

GPEOX Fund  USD 12.29  0.12  0.99%   
The current 90-days correlation between Grandeur Peak Emerging and Heartland Value Fund is 0.12 (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 0.2 (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
  0.7GPGIX Grandeur Peak GlobalPairCorr
  0.71GPGOX Grandeur Peak GlobalPairCorr
  0.81GPIIX Grandeur Peak InternPairCorr
  0.63GPRIX Grandeur Peak GlobalPairCorr
  0.64GPROX 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
  0.9NEWFX New World FundPairCorr
  0.9NWFFX New World FundPairCorr
  0.9NEWCX New World FundPairCorr
  0.94ODVYX Oppenheimer DevelopingPairCorr

Moving against Grandeur Mutual Fund

  0.33GUSYX Grandeur Peak StalwartsPairCorr
  0.61KMKCX Kinetics Market OppoPairCorr
  0.61CLM Cornerstone StrategicPairCorr
  0.6KNPAX Kinetics ParadigmPairCorr
  0.59KNPCX Kinetics ParadigmPairCorr
  0.59KNPYX Kinetics ParadigmPairCorr
  0.59WWNPX Kinetics ParadigmPairCorr
  0.58LSHUX Horizon Spin OffPairCorr
  0.56KSCOX Kinetics Small CapPairCorr
  0.56KSOCX Kinetics Small CapPairCorr
  0.55KSCYX Kinetics Small CapPairCorr
  0.52FGRIX Fidelity Growth IncomePairCorr
  0.49VISGX Vanguard Small CapPairCorr
  0.32VFIAX Vanguard 500 IndexPairCorr
  0.32VFINX Vanguard 500 IndexPairCorr
  0.31FBALX Fidelity BalancedPairCorr

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.