High Yield Correlations

Mutual Funds . USA . 
Fund . High Yield Fund
THYAX Fund  USD 7.51  0.04  0.53%   
The current 90-days correlation between High Yield Fund and John Hancock Municipal is 0.11 (i.e., Average 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 and DJI is 0.5 (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 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 nation.

Moving together with High Mutual Fund

  0.87TVOYX Touchstone Small CapPairCorr
  0.87TEGAX Mid Cap GrowthPairCorr
  0.87TEGIX Mid Cap GrowthPairCorr
  0.87TEGYX Mid Cap GrowthPairCorr
  0.88SAGWX Sentinel Small PanyPairCorr
  0.78TEQCX Touchstone SustainabilityPairCorr
  0.79TEQAX Touchstone SustainabilityPairCorr
  0.87SSCOX Sentinel Small PanyPairCorr
  0.85TFCCX Touchstone Large CapPairCorr
  0.88SSRRX Sentinel SmallPairCorr
  0.97TFFCX Touchstone FocusedPairCorr
  0.87TFGRX Touchstone Mid CapPairCorr
  0.97TFFIX Touchstone FocusedPairCorr
  0.94SSSGX Sentinel Low DurationPairCorr
  0.97TFFYX Touchstone FocusedPairCorr
  0.98SBACX Sentinel BalancedPairCorr
  0.94FRACX Touchstone FlexiblePairCorr
  0.96TFOAX Touchstone FocusedPairCorr
  0.94TFSLX Touchstone FlexiblePairCorr
  0.96CFSIX Touchstone Sands CapitalPairCorr
  0.97TGVCX Growth OpportunitiesPairCorr
  0.97TGVFX Growth OpportunitiesPairCorr
  0.97TGVYX Growth OpportunitiesPairCorr
  0.97TGVVX Growth OpportunitiesPairCorr
  0.98SCRLX Sentinel Mon StockPairCorr
  0.98SCSCX Sentinel Mon StockPairCorr
  1.0THIYX High Yield FundPairCorr
  0.99THYCX High Yield FundPairCorr
  1.0THYYX High Yield FundPairCorr
  0.88TICSX Touchstone Small PanyPairCorr
  0.98SEBLX Sentinel BalancedPairCorr
  0.9TIMPX Touchstone FundsPairCorr
  0.8TIQIX Touchstone SustainabilityPairCorr
  0.98SENCX Sentinel Mon StockPairCorr
  0.92SWFCX Sentinel InternationalPairCorr
  0.92SWRLX Sentinel InternationalPairCorr
  0.96CISGX Touchstone Sands CapitalPairCorr
  0.86TLCIX Touchstone Large CapPairCorr

Related Correlations Analysis


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.

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