High-yield Fund Correlations

ABHIX Fund

USD 5.18 0.02 0.39%

The current 90-days correlation between High Yield Fund and Science Technology Fund is 0.12 (i.e., Average diversification). The correlation of High-yield Fund 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.

High-yield Fund Correlation With Market

Very weak diversification

The correlation between High Yield Fund Investor and DJI is 0.48 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding High Yield Fund Investor and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in High Yield Fund Investor. 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 gross domestic product.

Moving together with High-yield Mutual Fund

0.8	AMEIX	Equity Growth	Pair Corr
0.81	AMGIX	Income Growth	Pair Corr
0.72	CDBCX	Diversified Bond	Pair Corr
0.76	AMKIX	Emerging Markets	Pair Corr
0.67	TWACX	Short Term Government	Pair Corr
0.75	TWCCX	Ultra Fund C	Pair Corr
0.75	TWCAX	Select Fund A	Pair Corr
0.8	TWCIX	Select Fund Investor	Pair Corr
0.79	TWCGX	Growth Fund Investor	Pair Corr
0.66	TWARX	Short Term Government	Pair Corr
0.65	TWAVX	Short Term Government	Pair Corr
0.77	TWBIX	Balanced Fund Investor	Pair Corr
0.76	TWCUX	Ultra Fund Investor	Pair Corr
0.79	TWGIX	Growth Fund I	Pair Corr
0.81	TWMIX	Emerging Markets	Pair Corr
0.79	TWRCX	Growth Fund C	Pair Corr
0.75	TWTCX	Intermediate Term Tax	Pair Corr
0.76	TWTIX	Intermediate Term Tax	Pair Corr
0.75	TWSCX	Strategic Allocation	Pair Corr
0.73	TWSAX	Strategic Allocation	Pair Corr
0.75	TWSMX	Strategic Allocation	Pair Corr
0.75	TWSIX	Select Fund I	Pair Corr
0.66	TWUSX	Short Term Government	Pair Corr
0.7	TWUAX	Ultra Fund A	Pair Corr
0.76	TWUIX	Ultra Fund I	Pair Corr
0.67	TWUOX	Short Term Government	Pair Corr
0.75	TWWOX	Intermediate Term Tax	Pair Corr
0.96	NPHIX	High Income Fund	Pair Corr

Moving against High-yield Mutual Fund

0.36	TWEAX	Equity Income	Pair Corr
0.34	TWEIX	Equity Income	Pair Corr

Related Correlations Analysis

	USTCX	TOWTX	BIPIX	MTCCX	VITAX	FRBRX	PTTEX
USTCX		0.75	0.59	0.92	0.93	0.53	0.96	USTCX
TOWTX	0.75		0.34	0.81	0.78	0.26	0.65	TOWTX
BIPIX	0.59	0.34		0.71	0.67	0.99	0.66	BIPIX
MTCCX	0.92	0.81	0.71		0.97	0.66	0.89	MTCCX
VITAX	0.93	0.78	0.67	0.97		0.61	0.93	VITAX
FRBRX	0.53	0.26	0.99	0.66	0.61		0.62	FRBRX
PTTEX	0.96	0.65	0.66	0.89	0.93	0.62		PTTEX
	USTCX	TOWTX	BIPIX	MTCCX	VITAX	FRBRX	PTTEX

Risk-Adjusted Indicators

There is a big difference between High-yield Mutual Fund performing well and High-yield Fund 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 High-yield Fund'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
USTCX	0.93	0.08	0.03	0.63	1.34	(0.88)	2.03	(2.38)	5.62
TOWTX	0.68	0.02	0.02	0.07	0.87	(0.69)	1.59	(1.33)	4.32
BIPIX	1.66	0.63	0.37	0.51	1.21	(1.96)	4.65	(2.55)	8.98
MTCCX	0.95	0.07	0.05	0.11	1.24	(0.96)	1.88	(2.58)	5.71
VITAX	0.98	0.03	0.03	0.08	1.54	(0.90)	1.84	(2.72)	5.95
FRBRX	1.00	0.48	0.42	0.92	0.47	(1.19)	2.48	(1.58)	5.16
PTTEX	0.99	0.08	0.02	0.83	1.50	(0.93)	1.93	(2.27)	6.21

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