High Income Correlations

AHIVX Fund

USD 8.81 0.01 0.11%

The current 90-days correlation between High Income Fund and American Beacon Sim is 0.85 (i.e., Very 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 weak diversification

The correlation between High Income Fund and DJI is 0.54 (i.e., Very weak 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 Trending Equities 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 small area income & poverty estimates.

Moving together with HIGH Mutual Fund

0.81	AMGIX	Income Growth	Pair Corr
0.68	TWCCX	Ultra Fund C	Pair Corr
0.71	TWCAX	Select Fund A	Pair Corr
0.74	TWCIX	Select Fund Investor	Pair Corr
0.69	TWCGX	Growth Fund Investor	Pair Corr
0.78	TWARX	Short Term Government	Pair Corr
0.79	TWAVX	Short Term Government	Pair Corr
0.78	TWBIX	Balanced Fund Investor	Pair Corr
0.69	TWGIX	Growth Fund I	Pair Corr
0.72	TWGGX	Global Growth	Pair Corr
0.63	TWHIX	Heritage Fund Investor	Pair Corr
0.63	TWMIX	Emerging Markets	Pair Corr
0.66	TWTIX	Intermediate Term Tax	Pair Corr
0.77	TWSCX	Strategic Allocation:	Pair Corr
0.76	TWSAX	Strategic Allocation:	Pair Corr
0.75	TWSMX	Strategic Allocation:	Pair Corr
0.81	TWUSX	Short Term Government	Pair Corr
0.72	TWUIX	Ultra Fund I	Pair Corr
0.84	ANONX	Small Cap Growth	Pair Corr
0.82	ANOIX	Small Cap Growth	Pair Corr
0.81	ANTUX	Nt Non Intrinsic	Pair Corr
0.77	ANTMX	Nt International Small	Pair Corr
0.8	AOCIX	One Choice Portfolio	Pair Corr
0.74	AOGIX	One Choice Portfolio	Pair Corr
0.77	AOMIX	One Choice Portfolio	Pair Corr
0.83	AONIX	One Choice Portfolio	Pair Corr
0.7	AOOIX	One Choice 2045	Pair Corr
0.74	AORYX	One Choice Portfolio	Pair Corr
0.75	AOVIX	One Choice Portfolio	Pair Corr
0.67	ARDMX	One Choice 2040	Pair Corr
0.69	ARCVX	One Choice 2030	Pair Corr
0.7	AREVX	One Choice 2055	Pair Corr
0.68	AREUX	One Choice 2055	Pair Corr

Related Correlations Analysis

	SHYPX	XFLT	TFILX	PRTAX	CPATX	CPITX	FCFWX	GDV	PYEQX	JIBBX
SHYPX		-0.6	0.51	0.49	0.81	0.84	0.4	0.78	0.63	0.77	SHYPX
XFLT	-0.6		-0.5	-0.52	-0.18	-0.25	-0.33	-0.1	-0.05	-0.17	XFLT
TFILX	0.51	-0.5		0.98	0.3	0.37	0.1	0.36	-0.2	0.49	TFILX
PRTAX	0.49	-0.52	0.98		0.26	0.33	0.05	0.31	-0.23	0.43	PRTAX
CPATX	0.81	-0.18	0.3	0.26		0.95	0.3	0.93	0.77	0.9	CPATX
CPITX	0.84	-0.25	0.37	0.33	0.95		0.32	0.95	0.71	0.95	CPITX
FCFWX	0.4	-0.33	0.1	0.05	0.3	0.32		0.26	0.29	0.41	FCFWX
GDV	0.78	-0.1	0.36	0.31	0.93	0.95	0.26		0.69	0.94	GDV
PYEQX	0.63	-0.05	-0.2	-0.23	0.77	0.71	0.29	0.69		0.57	PYEQX
JIBBX	0.77	-0.17	0.49	0.43	0.9	0.95	0.41	0.94	0.57		JIBBX
	SHYPX	XFLT	TFILX	PRTAX	CPATX	CPITX	FCFWX	GDV	PYEQX	JIBBX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

PRTAX	+ 0.98	TFILX
CPITX	+ 0.95	CPATX
GDV	+ 0.95	CPITX
JIBBX	+ 0.95	CPITX
JIBBX	+ 0.94	GDV
GDV	+ 0.93	CPATX

High negative correlations

XFLT	- 0.6	SHYPX
PRTAX	- 0.52	XFLT
TFILX	- 0.5	XFLT
FCFWX	- 0.33	XFLT
CPITX	- 0.25	XFLT
PYEQX	- 0.23	PRTAX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SHYPX	0.10	0.00	(0.39)	0.10	0.00	(0.17)	0.22	(0.11)	0.75
XFLT	0.77	(0.12)	0.00	(0.39)	0.00	0.00	1.57	(1.28)	3.89
TFILX	0.08	0.01	(0.33)	1.47	0.00	(0.14)	0.21	(0.11)	0.75
PRTAX	0.08	0.01	(0.42)	(0.79)	0.00	(0.15)	0.21	(0.11)	0.54
CPATX	0.12	0.00	(0.32)	0.12	0.08	(0.15)	0.27	(0.27)	0.72
CPITX	0.12	0.00	(0.36)	0.05	0.05	(0.14)	0.27	(0.18)	0.54
FCFWX	0.43	(0.06)	0.00	(0.03)	0.00	0.00	0.65	(0.82)	4.96
GDV	0.58	0.01	(0.01)	0.09	0.65	(0.62)	1.13	(1.18)	2.92
PYEQX	0.71	0.20	0.30	0.28	0.14	(0.87)	1.48	(1.06)	10.08
JIBBX	0.25	0.00	(0.14)	0.07	0.24	(0.29)	0.51	(0.50)	1.33

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