Grandeur Peak Correlations

GPGOX Fund  USD 3.52  0.02  0.57%   
The current 90-days correlation between Grandeur Peak Global and Qs Global Equity is 0.05 (i.e., Significant 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 Global and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Grandeur Peak Global 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 Global. 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

  0.66GGSYX Grandeur Peak GlobalPairCorr
  0.88GISYX Grandeur Peak InternPairCorr
  0.71GPEIX Grandeur Peak EmergingPairCorr
  0.71GPEOX Grandeur Peak EmergingPairCorr
  0.93GPGIX Grandeur Peak GlobalPairCorr
  0.81GPMCX Grandeur Peak GlobalPairCorr
  0.71GPRIX Grandeur Peak GlobalPairCorr
  0.81BISMX Brandes InternationalPairCorr

Moving against Grandeur Mutual Fund

  0.6LSHEX Kinetics Spin OffPairCorr
  0.59LSHUX Horizon Spin OffPairCorr
  0.65JPM JPMorgan Chase Fiscal Year End 10th of January 2025 PairCorr
  0.59LSHAX Horizon Spin OffPairCorr
  0.58CLM Cornerstone StrategicPairCorr
  0.56TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.55T ATT Inc Aggressive PushPairCorr
  0.53DIS Walt DisneyPairCorr
  0.51CVX Chevron Corp Fiscal Year End 7th of February 2025 PairCorr
  0.51WMT Walmart Aggressive PushPairCorr
  0.4AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.37AXP American Express Fiscal Year End 24th of January 2025 PairCorr

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   
WRLDXSMYIX
CABIXGWOAX
GWOAXAGAZX
MSTGXLFLCX
MSTGXCABIX
AGAZXSMYIX
  
High negative correlations   
LFLCXSMYIX
LFLCXWRLDX
LFLCXAGAZX

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.