Barings High Correlations

BXHCX Fund

USD 7.97 0.02 0.25%

The current 90-days correlation between Barings High Yield and Touchstone Large Cap is 0.66 (i.e., Poor diversification). The correlation of Barings 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.

Barings High Correlation With Market

Average diversification

The correlation between Barings High Yield and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Barings 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 Barings 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 main economic indicators.

Moving together with Barings Mutual Fund

0.98	BXFIX	Barings Global Floating	Pair Corr
0.96	BXFCX	Barings Global Floating	Pair Corr
0.98	BXFAX	Barings Global Floating	Pair Corr
0.95	BXFYX	Barings Global Floating	Pair Corr
0.98	BXICX	Barings Global Credit	Pair Corr
0.98	BXIAX	Barings Global Credit	Pair Corr
1.0	BXHYX	Barings High Yield	Pair Corr
0.98	BXIYX	Barings Global Credit	Pair Corr
0.98	BXITX	Barings Global Credit	Pair Corr
0.83	VWEAX	Vanguard High Yield	Pair Corr
0.88	VWEHX	Vanguard High Yield	Pair Corr
0.98	BHYCX	Blackrock Hi Yld	Pair Corr
0.94	BHYIX	Blackrock High Yield	Pair Corr
0.94	BHYSX	Blackrock Hi Yld	Pair Corr
0.95	BHYAX	Blackrock High Yield	Pair Corr
0.98	FAHHX	American Funds American	Pair Corr
0.98	FTAHX	American Funds American	Pair Corr
0.95	AHTFX	American High Income	Pair Corr
0.96	AHTCX	American High Income	Pair Corr
0.78	VSTSX	Vanguard Total Stock	Pair Corr
0.83	VSMPX	Vanguard Total Stock	Pair Corr
0.78	VITSX	Vanguard Total Stock	Pair Corr
0.84	VFFSX	Vanguard 500 Index	Pair Corr
0.84	VFIAX	Vanguard 500 Index	Pair Corr
0.65	VTISX	Vanguard Total Inter	Pair Corr
0.65	VTSNX	Vanguard Total Inter	Pair Corr
0.84	VINIX	Vanguard Institutional	Pair Corr
0.83	VTSAX	Vanguard Total Stock	Pair Corr

Moving against Barings Mutual Fund

0.39	BXEAX	Barings Emerging Markets	Pair Corr
0.37	BXECX	Barings Emerging Markets	Pair Corr
0.45	SMNAX	Steward Equity Market	Pair Corr

Related Correlations Analysis

	TACLX	GMLVX	CMIFX	FMIQX	LMUSX
TACLX		0.75	-0.67	0.87	0.8	TACLX
GMLVX	0.75		-0.38	0.75	0.62	GMLVX
CMIFX	-0.67	-0.38		-0.79	-0.91	CMIFX
FMIQX	0.87	0.75	-0.79		0.94	FMIQX
LMUSX	0.8	0.62	-0.91	0.94		LMUSX
	TACLX	GMLVX	CMIFX	FMIQX	LMUSX

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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

LMUSX	+ 0.94	FMIQX
FMIQX	+ 0.87	TACLX
LMUSX	+ 0.8	TACLX
GMLVX	+ 0.75	TACLX
FMIQX	+ 0.75	GMLVX
LMUSX	+ 0.62	GMLVX

High negative correlations

LMUSX	- 0.91	CMIFX
FMIQX	- 0.79	CMIFX
CMIFX	- 0.67	TACLX
CMIFX	- 0.38	GMLVX

Risk-Adjusted Indicators

There is a big difference between Barings Mutual Fund performing well and Barings 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 Barings 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
TACLX	1.02	(0.09)	0.00	0.86	0.00	0.00	1.49	(1.76)	10.03
GMLVX	1.00	0.09	0.10	0.01	1.46	(0.98)	1.78	(2.44)	7.39
CMIFX	0.09	0.01	0.98	(2.76)	0.00	(0.15)	0.21	(0.20)	0.62
FMIQX	0.99	0.05	0.00	(0.08)	0.00	0.00	1.73	(1.87)	9.32
LMUSX	1.27	0.00	0.00	(0.14)	0.00	0.00	2.22	(2.71)	12.83

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