1290 High Correlations

Mutual Funds . USA . 
Fund . 1290 High Yield
TNHIX Fund  USD 8.62  0.01  0.12%   
The current 90-days correlation between 1290 High Yield and Tax Managed Large Cap is 0.6 (i.e., Poor diversification). The correlation of 1290 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.

1290 High Correlation With Market

Good diversification

The correlation between 1290 High Yield and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 1290 High Yield 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 1290 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 gross domestic product.

Moving together with 1290 Mutual Fund

  0.95ESCKX 1290 FundsPairCorr
  0.95ESCJX 1290 Essex SmallPairCorr
  0.96ESCFX 1290 FundsPairCorr
  0.9TNBIX 1290 Smartbeta EquityPairCorr
  0.9TNBRX 1290 Smartbeta EquityPairCorr
  0.9TNBAX 1290 Smartbeta EquityPairCorr
  1.0TNHAX 1290 High YieldPairCorr
  1.0TNHRX 1290 High YieldPairCorr
  0.96TNMAX 1290 Multi AlternativePairCorr
  0.95TNMIX 1290 Multi AlternativePairCorr
  0.95TNMRX 1290 Multi AlternativePairCorr
  0.95TNRAX 1290 FundsPairCorr
  0.77TNURX 1290 Unconstrained BondPairCorr
  0.9TNVAX 1290 Gamco SmallmidPairCorr
  0.9TNVIX 1290 Gamco SmallmidPairCorr
  0.81TNUAX 1290 Unconstrained BondPairCorr
  0.79TNUIX 1290 Unconstrained BondPairCorr
  0.98TNXAX 1290 Doubleline DynamicPairCorr
  0.95TNXIX 1290 Retirement 2060PairCorr
  0.9TNVRX 1290 Gamco SmallmidPairCorr
  0.98TNYRX 1290 Doubleline DynamicPairCorr
  0.98VWEAX Vanguard High YieldPairCorr
  0.98VWEHX Vanguard High YieldPairCorr
  0.98BHYCX Blackrock Hi YldPairCorr
  0.98BHYIX Blackrock High YieldPairCorr
  0.99BHYSX Blackrock Hi YldPairCorr
  0.98BHYAX Blackrock High YieldPairCorr
  0.98FAHHX American Funds AmericanPairCorr
  0.98FTAHX American Funds AmericanPairCorr
  0.98AHTFX American High IncomePairCorr
  0.98AHTCX American High IncomePairCorr

Moving against 1290 Mutual Fund

  0.68TNIIX 1290 Retirement 2020PairCorr
  0.68TNKIX 1290 Retirement 2030PairCorr
  0.68TNJIX 1290 Retirement 2025PairCorr
  0.68TNOIX 1290 Retirement 2045PairCorr
  0.68TNNIX 1290 Retirement 2040PairCorr
  0.68TNQIX 1290 Retirement 2055PairCorr
  0.59TNLIX 1290 Retirement 2035PairCorr
  0.68TNWIX 1290 Retirement 2050PairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between 1290 Mutual Fund performing well and 1290 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 1290 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.

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