High Yield Correlations

AHYVX Fund

USD 5.19 0.01 0.19%

The current 90-days correlation between High Yield Fund and Atac Inflation Rotation is 0.27 (i.e., Modest diversification). The correlation of High Yield 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 Correlation With Market

Very weak diversification

The correlation between High Yield Fund A and DJI is 0.52 (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 A 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 A. 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 unemployment.

Moving together with High Mutual Fund

0.77	BHYCX	Blackrock Hi Yld	Pair Corr
0.75	BHYIX	Blackrock High Yield	Pair Corr
0.87	BHYSX	Blackrock Hi Yld	Pair Corr
0.79	BHYAX	Blackrock High Yield	Pair Corr
0.82	AHTFX	American High Income	Pair Corr
0.74	AHTCX	American High Income	Pair Corr
0.73	AHITX	American High Income	Pair Corr
0.64	VWEHX	Vanguard High Yield	Pair Corr
0.64	VWEAX	Vanguard High Yield	Pair Corr
0.7	PHYZX	Prudential High Yield	Pair Corr
0.72	OIEJX	Jpmorgan Equity Income	Pair Corr
0.75	SLASX	Selected American Shares	Pair Corr
0.62	AMGIX	Income Growth	Pair Corr
0.62	VDIPX	Vanguard Developed	Pair Corr
0.63	RWIAX	Capital World Growth	Pair Corr
0.63	WFIVX	Wilshire 5000 Index	Pair Corr
0.63	TSCIX	Amg Timessquare Small	Pair Corr

Related Correlations Analysis

	ATACX	QCILIX	LIPNX	RYIFX	ABYIX	LIFAX	TIIHX
ATACX		-0.02	0.32	0.27	0.39	0.38	0.11	ATACX
QCILIX	-0.02		0.76	0.29	0.27	0.19	0.76	QCILIX
LIPNX	0.32	0.76		0.35	0.47	0.17	0.61	LIPNX
RYIFX	0.27	0.29	0.35		0.83	-0.01	0.23	RYIFX
ABYIX	0.39	0.27	0.47	0.83		0.02	0.16	ABYIX
LIFAX	0.38	0.19	0.17	-0.01	0.02		0.45	LIFAX
TIIHX	0.11	0.76	0.61	0.23	0.16	0.45		TIIHX
	ATACX	QCILIX	LIPNX	RYIFX	ABYIX	LIFAX	TIIHX

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

ABYIX	+ 0.83	RYIFX
LIPNX	+ 0.76	QCILIX
TIIHX	+ 0.76	QCILIX
TIIHX	+ 0.61	LIPNX
ABYIX	+ 0.47	LIPNX
TIIHX	+ 0.45	LIFAX

High negative correlations

QCILIX	- 0.02	ATACX
LIFAX	- 0.01	RYIFX

Risk-Adjusted Indicators

There is a big difference between High Mutual Fund performing well and High Yield 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'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
ATACX	0.65	(0.05)	0.00	(0.04)	0.00	0.00	1.98	(1.40)	5.14
QCILIX	0.10	(0.01)	0.00	(0.22)	0.00	0.00	0.18	(0.15)	0.62
LIPNX	0.14	(0.02)	0.00	(1.24)	0.00	0.00	0.31	(0.20)	0.92
RYIFX	0.58	0.07	0.02	1.30	0.69	(0.61)	1.23	(1.21)	4.42
ABYIX	0.41	0.01	(0.06)	0.08	0.46	(0.47)	0.91	(0.99)	2.62
LIFAX	0.08	(0.01)	0.00	2.08	0.00	0.00	0.17	(0.17)	0.59
TIIHX	0.10	0.00	(0.41)	0.00	0.12	(0.15)	0.18	(0.18)	0.64

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