| BCHYX Fund | | | USD 9.87 0.02 0.20% |
The current 90-days correlation between California High Yield and California Intermediate Term Tax Free is 0.15 (i.e., Average diversification). The correlation of California 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.
California High-yield Correlation With Market
Average diversification
The correlation between California High Yield Municipa and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding California High Yield Municipa and DJI in the same portfolio, assuming nothing else is changed.
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Trending Equities to better understand how to build diversified portfolios, which includes a position in California High Yield Municipal. 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 manufacturing.