High Yield Correlations

THYUX Fund

USD 3.26 0.01 0.31%

The current 90-days correlation between High Yield Fund and Nuveen Real Estate is 0.4 (i.e., Very 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

Weak diversification

The correlation between High Yield Fund and DJI is 0.37 (i.e., 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 manufacturing.

Moving together with High Mutual Fund

0.84

MRHYX

Msift High Yield

Pair Corr

Moving against High Mutual Fund

0.45	DINAX	Global Fixed Income	Pair Corr
0.44	TIFUX	International Fixed	Pair Corr
0.35	MRGEX	Msif Emerging Markets	Pair Corr
0.34	MMKBX	Emerging Markets Por	Pair Corr
0.34	MMMPX	Msif Emerging Markets	Pair Corr
0.44	MSAUX	Asia Opportunity Por	Pair Corr
0.41	MSAWX	Asia Opportunity Por	Pair Corr
0.37	MSAQX	Asia Opportunity Por	Pair Corr
0.37	MSAYX	Asia Opportunity Por	Pair Corr
0.36	MSFLX	Global Franchise Por	Pair Corr
0.35	MSCOX	Msif Small Pany	Pair Corr
0.33	MSGFX	Global Franchise Por	Pair Corr

Related Correlations Analysis

	FREAX	RRSCX	DNREX	JYEBX	CREYX	MXREX	CREFX
FREAX		0.92	0.82	0.8	0.73	0.95	0.81	FREAX
RRSCX	0.92		0.93	0.68	0.73	0.88	0.82	RRSCX
DNREX	0.82	0.93		0.59	0.67	0.77	0.7	DNREX
JYEBX	0.8	0.68	0.59		0.51	0.89	0.73	JYEBX
CREYX	0.73	0.73	0.67	0.51		0.7	0.64	CREYX
MXREX	0.95	0.88	0.77	0.89	0.7		0.89	MXREX
CREFX	0.81	0.82	0.7	0.73	0.64	0.89		CREFX
	FREAX	RRSCX	DNREX	JYEBX	CREYX	MXREX	CREFX

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
FREAX	0.58	(0.01)	(0.07)	0.01	0.78	(0.59)	1.04	(1.17)	3.78
RRSCX	0.49	(0.04)	0.00	(0.15)	0.00	0.00	0.99	(1.04)	2.99
DNREX	0.53	(0.05)	0.00	(0.21)	0.00	0.00	1.08	(1.12)	3.13
JYEBX	0.59	(0.02)	(0.08)	(0.05)	0.78	(0.59)	1.00	(1.37)	3.48
CREYX	0.63	(0.04)	(0.08)	(0.02)	0.84	(0.64)	1.07	(1.16)	3.89
MXREX	0.59	(0.01)	(0.07)	0.01	0.78	(0.60)	0.98	(1.12)	3.70
CREFX	0.56	(0.01)	(0.06)	(0.02)	0.90	(0.52)	1.10	(1.38)	3.62

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