High Yield Correlations

Mutual Funds . USA . 
Fund . High Yield Fund R6
AHYDX Fund  USD 5.21  0.01  0.19%   
The current 90-days correlation between High Yield Fund and Oppenheimer Gold Special is 0.08 (i.e., Significant diversification). The correlation of High Yield 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 Correlation With Market

Weak diversification

The correlation between High Yield Fund R6 and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding High Yield Fund R6 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 R6. 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

  0.85AMDVX Mid Cap ValuePairCorr
  0.84AMEIX Equity GrowthPairCorr
  0.87AMGIX Income GrowthPairCorr
  0.8AMKIX Emerging MarketsPairCorr
  0.89TWACX Short Term GovernmentPairCorr
  0.86TWADX Value Fund APairCorr
  0.78TWCCX Ultra Fund CPairCorr
  0.81TWCAX Select Fund APairCorr
  0.81TWCIX Select Fund InvestorPairCorr
  0.78TWCGX Growth Fund InvestorPairCorr
  0.89TWARX Short Term GovernmentPairCorr
  0.89TWAVX Short Term GovernmentPairCorr
  0.82AMVYX Mid Cap ValuePairCorr
  0.82AMVRX Mid Cap ValuePairCorr
  0.77TWBIX Balanced Fund InvestorPairCorr
  0.82AMVGX Mid Cap ValuePairCorr
  0.83TWEAX Equity IncomePairCorr
  0.83TWEIX Equity IncomePairCorr
  0.81TWGAX International GrowthPairCorr
  0.78TWGIX Growth Fund IPairCorr
  0.84TWGGX Global GrowthPairCorr
  0.72TWIEX International GrowthPairCorr
  0.76TWHIX Heritage Fund InvestorPairCorr
  0.8TWMIX Emerging MarketsPairCorr
  0.77TWRCX Growth Fund CPairCorr
  0.83TWTCX Intermediate Term TaxPairCorr
  0.89TWTIX Intermediate Term TaxPairCorr
  0.87TWSCX Strategic Allocation:PairCorr
  0.87TWSAX Strategic Allocation:PairCorr
  0.86TWSMX Strategic Allocation:PairCorr
  0.82TWSIX Select Fund IPairCorr
  0.9TWUSX Short Term GovernmentPairCorr
  0.86TWVLX Value Fund InvestorPairCorr
  0.8TWUAX Ultra Fund APairCorr
  0.8TWUIX Ultra Fund IPairCorr
  0.91TWUOX Short Term GovernmentPairCorr
  0.89TWWOX Intermediate Term TaxPairCorr
  0.99NPHIX High Income FundPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

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