Equity Index Correlations
| GEQZX Fund | USD 51.82 0.60 1.17% |
The correlation of Equity Index 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Equity Index moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Equity Index Investor moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Poor diversification
The correlation between Equity Index Investor and NYA is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Equity Index Investor and NYA in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Equity Index could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Equity Index when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Equity Index - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Equity Index Investor to buy it.
Moving together with Equity Mutual Fund
| 0.98 | GCOZX | Growth Allocation | PairCorr |
| 0.96 | GDMYX | Defensive Market Str | PairCorr |
| 0.96 | GDMZX | Defensive Market Str | PairCorr |
| 0.96 | GVEYX | Value Equity Institu | PairCorr |
| 0.96 | GVEZX | Value Equity Investor | PairCorr |
| 0.94 | GVIYX | Guidestone Value Equity | PairCorr |
| 0.94 | GVIZX | Guidestone Value Equity | PairCorr |
| 0.9 | GEIYX | Guidestone Growth Equity | PairCorr |
| 0.95 | GEMYX | Emerging Markets Equity | PairCorr |
| 1.0 | GEQYX | Equity Index Institu | PairCorr |
| 0.94 | GFIZX | Conservative Allocation | PairCorr |
| 0.66 | GFSYX | Strategic Alternatives | PairCorr |
| 0.99 | GGBZX | Aggressive Allocation | PairCorr |
| 0.98 | GGEYX | Guidestone Fds Growth | PairCorr |
| 0.98 | GGEZX | Growth Equity Investor | PairCorr |
| 0.94 | GGIZX | Balanced Allocation | PairCorr |
| 0.98 | GGRYX | Growth Allocation | PairCorr |
Related Correlations Analysis
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Be your own money manager
Our tools can tell you how much better you can do entering a position in Equity Index without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Already Invested in Equity Index Investor?
The danger of trading Equity Index Investor is mainly related to its market volatility and Mutual Fund specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Equity Index is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Equity Index. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Equity Index Investor is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Equity Index Investor. Also, note that the market value of any mutual fund could be tightly coupled with the direction of predictive economic indicators such as signals in nation. Note that the Equity Index Investor information on this page should be used as a complementary analysis to other Equity Index's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Equity Valuation module to check real value of public entities based on technical and fundamental data.