Grandeur Peak Correlations

GPGOX Fund  USD 3.52  0.02  0.57%   
The current 90-days correlation between Grandeur Peak Global and Grandeur Peak International is 0.93 (i.e., Almost no 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 0.12 (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

  0.64GGSOX Grandeur Peak GlobalPairCorr
  0.77GGSYX Grandeur Peak GlobalPairCorr
  0.93GISOX Grandeur Peak InternPairCorr
  0.93GISYX Grandeur Peak InternPairCorr
  0.7GPEIX Grandeur Peak EmergingPairCorr
  0.7GPEOX Grandeur Peak EmergingPairCorr
  1.0GPGIX Grandeur Peak GlobalPairCorr
  0.94GPIIX Grandeur Peak InternPairCorr
  0.94GPIOX Grandeur Peak InternPairCorr
  0.91GPMCX Grandeur Peak GlobalPairCorr
  0.78GPRIX Grandeur Peak GlobalPairCorr
  0.79GPROX Grandeur Peak GlobalPairCorr

Moving against Grandeur Mutual Fund

  0.62KNPAX Kinetics ParadigmPairCorr
  0.62WWNPX Kinetics ParadigmPairCorr
  0.62KNPCX Kinetics ParadigmPairCorr
  0.61KINCX Kinetics InternetPairCorr
  0.61KINAX Kinetics InternetPairCorr
  0.6KSCYX Kinetics Small CapPairCorr
  0.6KSOCX Kinetics Small CapPairCorr
  0.59LETRX Voya Russia FundPairCorr
  0.59LSHUX Horizon Spin OffPairCorr
  0.58KSCOX Kinetics Small CapPairCorr
  0.37HADRX Horizon Defined RiskPairCorr
  0.35USA Liberty All StarPairCorr
  0.61LCCMX Leader Short TermPairCorr
  0.6GIFIX Guggenheim Floating RatePairCorr

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   
RRTLXMSTSX
OSHDFVIASP
RRTLXLBHIX
SITKFMSTSX
70082LAB3VIASP
LBHIXMSTSX
  
High negative correlations   
VIASPGISYX
70082LAB3GISYX
OSHDFGISYX
LBHIXGISYX
SITKFVIASP
SITKFOSHDF

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.