High Income Correlations

Mutual Funds . USA . 
Fund . High Income Fund
UIHIX Fund  USD 6.91  0.01  0.14%   
The current 90-days correlation between High Income Fund and Profunds Large Cap Growth is 0.63 (i.e., Poor diversification). The correlation of High Income 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 Income Correlation With Market

Very good diversification

The correlation between High Income Fund and DJI is -0.22 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding High Income 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, which includes a position in High Income Fund. 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 High Mutual Fund

  0.98UICGX Capital GrowthPairCorr
  0.98UIEMX Emerging MarketsPairCorr
  0.97UIIFX International FundPairCorr
  0.98UIGIX Growth IncomePairCorr
  0.68UIGSX Government SecuritiesPairCorr
  0.98UIGRX Growth Fund GrowthPairCorr
  0.79UIINX Income Fund IncomePairCorr
  0.96UIISX Income StockPairCorr
  0.79UIITX Intermediate Term BondPairCorr
  0.94UISBX Short Term BondPairCorr
  0.95UISCX Small Cap StockPairCorr
  0.96UIVAX Value Fund ValuePairCorr
  0.99UIWGX World GrowthPairCorr
  0.8URIBX Intermediate Term BondPairCorr
  0.8URIFX Income Fund IncomePairCorr
  0.64URGSX Government SecuritiesPairCorr
  0.99URHIX High Income FundPairCorr
  0.98URNQX Nasdaq 100 IndexPairCorr
  0.94URSBX Short Term BondPairCorr
  0.95URUSX Ultra Short TermPairCorr
  0.98USPRX Sp 500 IndexPairCorr
  0.97UTMAX Target Managed AllocationPairCorr
  0.96UUSIX Ultra Short TermPairCorr
  0.97UGOFX Global Managed VolatilityPairCorr
  0.97UIAGX Aggressive GrowthPairCorr
  0.98VWEAX Vanguard High YieldPairCorr
  0.99VWEHX 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
  0.96AHTCX American High IncomePairCorr
  0.77NHS Neuberger Berman HighPairCorr
  0.97LCMNX Miller IncomePairCorr
  0.75GRETX Goldman Sachs RealPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between High Mutual Fund performing well and High Income 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 Income'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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