1290 High Correlations

Mutual Funds . USA . 
Fund . 1290 High Yield
TNHRX Fund  USD 8.63  0.01  0.12%   
The current 90-days correlation between 1290 High Yield and Goldman Sachs International is 0.22 (i.e., Modest 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 -0.17 (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 metropolitan statistical area.

Moving together with 1290 Mutual Fund

  0.97ESCKX 1290 FundsPairCorr
  0.97ESCJX 1290 Essex SmallPairCorr
  0.98ESCFX 1290 FundsPairCorr
  0.95TNBIX 1290 Smartbeta EquityPairCorr
  0.95TNBRX 1290 Smartbeta EquityPairCorr
  0.95TNBAX 1290 Smartbeta EquityPairCorr
  1.0TNHAX 1290 High YieldPairCorr
  1.0TNHIX 1290 High YieldPairCorr
  0.96TNMAX 1290 Multi AlternativePairCorr
  0.96TNMIX 1290 Multi AlternativePairCorr
  0.96TNMRX 1290 Multi AlternativePairCorr
  0.98TNRAX 1290 FundsPairCorr
  0.71TNURX 1290 Unconstrained BondPairCorr
  0.98TNVDX 1290 Doubleline DynamicPairCorr
  0.95TNVAX 1290 Gamco SmallmidPairCorr
  0.95TNVIX 1290 Gamco SmallmidPairCorr
  0.71TNUAX 1290 Unconstrained BondPairCorr
  0.73TNUIX 1290 Unconstrained BondPairCorr
  0.98TNXAX 1290 Doubleline DynamicPairCorr
  0.98TNXIX 1290 Retirement 2060PairCorr
  0.95TNVRX 1290 Gamco SmallmidPairCorr
  0.98TNYRX 1290 Doubleline DynamicPairCorr
  0.98VWEAX Vanguard High YieldPairCorr
  0.98VWEHX Vanguard High YieldPairCorr
  0.99BHYCX Blackrock Hi YldPairCorr
  0.99BHYIX Blackrock High YieldPairCorr
  0.99BHYSX Blackrock Hi YldPairCorr
  0.99BHYAX Blackrock High YieldPairCorr
  0.96FAHHX American Funds AmericanPairCorr
  0.96FTAHX American Funds AmericanPairCorr
  0.96AHTFX American High IncomePairCorr

Moving against 1290 Mutual Fund

  0.82TNKIX 1290 Retirement 2030PairCorr
  0.81TNIIX 1290 Retirement 2020PairCorr
  0.81TNOIX 1290 Retirement 2045PairCorr
  0.81TNNIX 1290 Retirement 2040PairCorr
  0.81TNQIX 1290 Retirement 2055PairCorr
  0.8TNJIX 1290 Retirement 2025PairCorr
  0.81TNWIX 1290 Retirement 2050PairCorr

Related Correlations Analysis

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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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