High Yield Correlations

Mutual Funds USA . 
Fund . High Yield Fund
The current 90-days correlation between High Yield Fund and Jpmorgan High Yield 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

Average diversification

The correlation between High Yield Fund and DJI is 0.19 (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. 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

  0.67TVOYX Touchstone Small CapPairCorr
  0.79TEGCX Touchstone Sands CapitalPairCorr
  0.68TEGAX Mid Cap GrowthPairCorr
  0.84TEGIX Mid Cap GrowthPairCorr
  0.84TEGYX Mid Cap GrowthPairCorr
  0.82SAGWX Sentinel Small PanyPairCorr
  0.85TEQAX Touchstone SustainabilityPairCorr
  0.91SSCOX Sentinel Small PanyPairCorr
  0.92TFCCX Touchstone Large CapPairCorr
  0.66SSRRX Sentinel SmallPairCorr
  0.77TFFCX Touchstone FocusedPairCorr
  0.68TFGRX Touchstone Mid CapPairCorr
  0.94SSSGX Sentinel Low DurationPairCorr
  0.77TFFYX Touchstone FocusedPairCorr
  0.99SBACX Sentinel BalancedPairCorr
  0.68FRACX Touchstone FlexiblePairCorr
  0.99TFOAX Touchstone FocusedPairCorr
  0.87TFSLX Touchstone FlexiblePairCorr
  0.98CFSIX Touchstone Sands CapitalPairCorr
  0.98TGVCX Growth OpportunitiesPairCorr
  0.98TGVFX Growth OpportunitiesPairCorr
  0.75TGVYX Growth OpportunitiesPairCorr
  0.98TGVVX Growth OpportunitiesPairCorr
  0.78SCRLX Sentinel Mon StockPairCorr
  0.99SCSCX Sentinel Mon StockPairCorr
  1.0THYCX High Yield FundPairCorr
  1.0THYAX High Yield FundPairCorr
  0.74THYYX High Yield FundPairCorr
  0.92TICSX Touchstone Small PanyPairCorr
  0.99SEBLX Sentinel BalancedPairCorr
  0.94TIQIX Touchstone SustainabilityPairCorr
  0.99SENCX Sentinel Mon StockPairCorr
  0.97SWFCX Sentinel InternationalPairCorr
  0.97SWRLX Sentinel InternationalPairCorr
  0.98CISGX Touchstone Sands CapitalPairCorr
  0.71TLCIX Touchstone Large CapPairCorr
  0.71TLCYX Touchstone Large CapPairCorr

Related Correlations Analysis

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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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