High Yield Correlations

THIYX Fund

USD 7.79 0.01 0.13%

The current 90-days correlation between High Yield Fund and Calvert Smallmid Cap A is 0.39 (i.e., Weak 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

Average diversification

The correlation between High Yield Fund and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding High Yield Fund and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in High Yield Fund. 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 private.

Moving together with High Mutual Fund

0.92	TVOYX	Touchstone Small Cap	Pair Corr
0.73	SAGWX	Sentinel Small Pany	Pair Corr
0.7	SSCOX	Sentinel Small Pany	Pair Corr
0.66	SSRRX	Sentinel Small	Pair Corr
0.63	SSSGX	Sentinel Low Duration	Pair Corr
0.99	THYCX	High Yield Fund	Pair Corr
0.93	THYAX	High Yield Fund	Pair Corr
0.99	THYYX	High Yield Fund	Pair Corr
0.81	TICSX	Touchstone Small Pany	Pair Corr
0.61	SENCX	Sentinel Mon Stock	Pair Corr
0.75	SWFCX	Sentinel International	Pair Corr
0.75	SWRLX	Sentinel International	Pair Corr

Moving against High Mutual Fund

0.41	TEGYX	Mid Cap Growth	Pair Corr
0.4	TEGIX	Mid Cap Growth	Pair Corr
0.39	TEGAX	Mid Cap Growth	Pair Corr

Related Correlations Analysis

	CMPAX	TVOYX	OWSMX	VYRDX	DFUKX	PSBMX
CMPAX		0.42	0.76	0.78	0.67	0.28	CMPAX
TVOYX	0.42		0.77	0.84	0.34	0.96	TVOYX
OWSMX	0.76	0.77		0.94	0.76	0.72	OWSMX
VYRDX	0.78	0.84	0.94		0.7	0.76	VYRDX
DFUKX	0.67	0.34	0.76	0.7		0.32	DFUKX
PSBMX	0.28	0.96	0.72	0.76	0.32		PSBMX
	CMPAX	TVOYX	OWSMX	VYRDX	DFUKX	PSBMX

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
CMPAX	0.78	0.02	(0.03)	0.23	0.80	(0.97)	1.45	(1.22)	5.85
TVOYX	0.79	0.05	0.01	0.20	0.91	(0.87)	1.80	(1.40)	4.49
OWSMX	0.58	0.01	(0.06)	0.10	0.74	(0.63)	1.40	(1.24)	3.10
VYRDX	0.80	0.02	(0.02)	0.11	1.00	(0.85)	2.04	(1.45)	4.68
DFUKX	0.69	0.00	(0.06)	0.04	0.75	(0.78)	1.56	(1.07)	3.79
PSBMX	0.85	0.06	0.01	0.30	1.08	(0.91)	1.94	(1.85)	5.10

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