High-yield Fund Correlations

Mutual Funds . USA . 
Fund . High Yield Fund R5
ACYIX Fund  USD 5.21  0.01  0.19%   
The current 90-days correlation between High Yield Fund and Goldman Sachs Small is -0.01 (i.e., Good diversification). The correlation of High-yield Fund 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 Fund Correlation With Market

Almost no diversification

The correlation between High Yield Fund R5 and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding High Yield Fund R5 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 High Yield Fund R5. 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-yield Mutual Fund

  0.91AMDVX Mid Cap ValuePairCorr
  0.89AMGIX Income GrowthPairCorr
  0.72CDBCX Diversified BondPairCorr
  0.93AMKIX Emerging MarketsPairCorr
  0.9TWACX Short Term GovernmentPairCorr
  0.94TWADX Value Fund APairCorr
  0.64TWCCX Ultra Fund CPairCorr
  0.89TWARX Short Term GovernmentPairCorr
  0.88TWAVX Short Term GovernmentPairCorr
  0.88AMVYX Mid Cap ValuePairCorr
  0.87AMVRX Mid Cap ValuePairCorr
  0.66TWBIX Balanced Fund InvestorPairCorr
  0.87AMVGX Mid Cap ValuePairCorr
  0.9TWEAX Equity IncomePairCorr
  0.9TWEIX Equity IncomePairCorr
  0.93TWGAX International GrowthPairCorr
  0.69TWGGX Global GrowthPairCorr
  0.93TWIEX International GrowthPairCorr
  0.93TWMIX Emerging MarketsPairCorr
  0.63TWRCX Growth Fund CPairCorr
  0.9TWTCX Intermediate Term TaxPairCorr
  0.91TWTIX Intermediate Term TaxPairCorr
  0.95TWSCX Strategic AllocationPairCorr
  0.95TWSAX Strategic AllocationPairCorr
  0.95TWSMX Strategic AllocationPairCorr
  0.87TWUSX Short Term GovernmentPairCorr
  0.93TWVLX Value Fund InvestorPairCorr
  0.89TWUOX Short Term GovernmentPairCorr
  0.9TWWOX Intermediate Term TaxPairCorr
  0.98NPHIX High Income FundPairCorr

Moving against High-yield Mutual Fund

  0.5TWCGX Growth Fund InvestorPairCorr
  0.49TWGIX Growth Fund IPairCorr
  0.4TWCUX Ultra Fund InvestorPairCorr
  0.39TWUIX Ultra Fund IPairCorr
  0.35TWUAX Ultra Fund APairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

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