Buffalo High Correlations

BUFHX Fund

USD 10.54 0.01 0.09%

The current 90-days correlation between Buffalo High Yield and T Rowe Price is 0.17 (i.e., Average diversification). The correlation of Buffalo High 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.

Buffalo High Correlation With Market

Poor diversification

The correlation between Buffalo High Yield and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Buffalo High Yield 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 Buffalo High Yield. 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 rate.

Moving together with Buffalo Mutual Fund

0.68	BUFSX	Buffalo Small Cap	Pair Corr
0.64	BUFOX	Buffalo Emerging Opp	Pair Corr
0.69	BUFDX	Buffalo Dividend Focus	Pair Corr
0.67	BUISX	Buffalo Small Cap	Pair Corr
0.64	BUIOX	Buffalo Early Stage	Pair Corr
0.88	BUIHX	Buffalo High Yield	Pair Corr
0.68	BUIDX	Buffalo Dividend Focus	Pair Corr

Moving against Buffalo Mutual Fund

0.43	SGTRX	Columbia Seligman Global	Pair Corr
0.34	SMPSX	Semiconductor Ultrasector Steady Growth	Pair Corr
0.34	SMPIX	Semiconductor Ultrasector Steady Growth	Pair Corr

Related Correlations Analysis

	PTTFX	RPIHX	JASBX	JSHNX	MAPOX	WTIBX	BICSX	STMPX	GIFPX	USRTX
PTTFX		0.26	0.79	0.84	0.06	0.85	0.65	0.04	0.25	0.64	PTTFX
RPIHX	0.26		0.36	0.32	-0.02	-0.02	0.45	0.08	0.67	0.59	RPIHX
JASBX	0.79	0.36		0.88	-0.19	0.7	0.59	-0.18	0.57	0.51	JASBX
JSHNX	0.84	0.32	0.88		-0.05	0.72	0.67	-0.06	0.5	0.5	JSHNX
MAPOX	0.06	-0.02	-0.19	-0.05		0.0	0.04	0.89	-0.43	0.25	MAPOX
WTIBX	0.85	-0.02	0.7	0.72	0.0		0.51	-0.08	0.08	0.52	WTIBX
BICSX	0.65	0.45	0.59	0.67	0.04	0.51		-0.01	0.33	0.67	BICSX
STMPX	0.04	0.08	-0.18	-0.06	0.89	-0.08	-0.01		-0.36	0.27	STMPX
GIFPX	0.25	0.67	0.57	0.5	-0.43	0.08	0.33	-0.36		0.18	GIFPX
USRTX	0.64	0.59	0.51	0.5	0.25	0.52	0.67	0.27	0.18		USRTX
	PTTFX	RPIHX	JASBX	JSHNX	MAPOX	WTIBX	BICSX	STMPX	GIFPX	USRTX

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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

STMPX	+ 0.89	MAPOX
JSHNX	+ 0.88	JASBX
WTIBX	+ 0.85	PTTFX
JSHNX	+ 0.84	PTTFX
JASBX	+ 0.79	PTTFX
WTIBX	+ 0.72	JSHNX

High negative correlations

GIFPX	- 0.43	MAPOX
GIFPX	- 0.36	STMPX
MAPOX	- 0.19	JASBX
STMPX	- 0.18	JASBX
STMPX	- 0.08	WTIBX
STMPX	- 0.06	JSHNX

Risk-Adjusted Indicators

There is a big difference between Buffalo Mutual Fund performing well and Buffalo High 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 Buffalo High'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
PTTFX	0.17	0.01	(0.26)	0.20	0.10	(0.22)	0.36	(0.24)	0.95
RPIHX	0.13	0.00	(0.31)	0.00	0.10	(0.18)	0.23	(0.23)	1.03
JASBX	0.06	(0.01)	0.00	(0.11)	0.00	0.00	0.34	(0.34)	1.04
JSHNX	0.07	(0.01)	(0.19)	(0.09)	0.08	(0.35)	0.35	(0.35)	0.70
MAPOX	0.36	(0.04)	(0.13)	(0.01)	0.53	(0.32)	0.65	(0.66)	2.64
WTIBX	0.16	0.00	(0.30)	0.13	0.13	(0.20)	0.31	(0.32)	0.84
BICSX	0.62	0.11	0.05	0.72	0.76	(0.67)	1.50	(1.50)	4.72
STMPX	0.78	(0.08)	(0.06)	0.00	1.04	(0.79)	1.83	(1.67)	4.90
GIFPX	0.05	(0.01)	(0.76)	0.33	0.06	(0.15)	0.04	(0.09)	0.81
USRTX	0.48	0.04	(0.02)	0.39	0.60	(0.50)	1.11	(1.02)	3.05

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