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 0.92 (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

Very weak diversification

The correlation between Grandeur Peak Global and DJI is 0.58 (i.e., Very weak 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

  0.76GGSOX Grandeur Peak GlobalPairCorr
  0.76GGSYX Grandeur Peak GlobalPairCorr
  0.93GISOX Grandeur Peak InternPairCorr
  0.93GISYX Grandeur Peak InternPairCorr
  0.69GPEIX Grandeur Peak EmergingPairCorr
  0.63GPEOX Grandeur Peak EmergingPairCorr
  1.0GPGIX Grandeur Peak GlobalPairCorr
  0.94GPIIX Grandeur Peak InternPairCorr
  0.94GPIOX Grandeur Peak InternPairCorr
  0.85GPMCX Grandeur Peak GlobalPairCorr
  0.78GPRIX Grandeur Peak GlobalPairCorr
  0.7GPROX Grandeur Peak GlobalPairCorr
  0.72SICIX Saat Servative StrategyPairCorr

Moving against Grandeur Mutual Fund

  0.59LETRX Voya Russia FundPairCorr
  0.59KNPAX Kinetics ParadigmPairCorr
  0.59WWNPX Kinetics ParadigmPairCorr
  0.59KNPCX Kinetics ParadigmPairCorr
  0.59KINCX Kinetics InternetPairCorr
  0.59KINAX Kinetics InternetPairCorr
  0.58KSCYX Kinetics Small CapPairCorr
  0.58KSOCX Kinetics Small CapPairCorr
  0.57KSCOX Kinetics Small CapPairCorr
  0.57LSHUX Horizon Spin OffPairCorr
  0.4HADRX Horizon Defined RiskPairCorr
  0.32USA Liberty All StarPairCorr

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   
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RRTLXLBHIX
SITKFMSTSX
70082LAB3VIASP
LBHIXMSTSX
  
High negative correlations   
70082LAB3GISYX
VIASPGISYX
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.