Buffalo High Correlations

BUFHX Fund

USD 10.83 0.01 0.09%

The current 90-days correlation between Buffalo High Yield and Buffalo Flexible Income is 0.14 (i.e., Average diversification). The correlation of Buffalo High 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.

Buffalo High Correlation With Market

Significant diversification

The correlation between Buffalo High Yield and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Buffalo High Yield 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 Buffalo High Yield. 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 rate.

Moving together with Buffalo Mutual Fund

0.63	VWEAX	Vanguard High Yield	Pair Corr
0.71	VWEHX	Vanguard High Yield	Pair Corr
0.69	FTAHX	American Funds American	Pair Corr
0.77	PFN	Pimco Income Strategy	Pair Corr
0.66	CIF	Mfs Intermediate High	Pair Corr

Moving against Buffalo Mutual Fund

0.42	BUFGX	Buffalo Growth	Pair Corr
0.4	BUFBX	Buffalo Flexible Income	Pair Corr
0.39	BUFMX	Buffalo Mid Cap	Pair Corr
0.39	BUIMX	Buffalo Mid Cap	Pair Corr
0.38	BUFTX	Buffalo Discovery	Pair Corr
0.38	BUITX	Buffalo Discovery	Pair Corr
0.37	BIIGX	Buffalo Growth	Pair Corr
0.36	XNBHX	Neuberger Berman Int	Pair Corr
0.31	XDSMX	Dreyfus Strategic	Pair Corr

Related Correlations Analysis

	BUFBX	BUFGX	BUFEX	BUFMX	BUFOX
BUFBX		0.86	0.64	0.95	0.61	BUFBX
BUFGX	0.86		0.62	0.96	0.62	BUFGX
BUFEX	0.64	0.62		0.61	0.58	BUFEX
BUFMX	0.95	0.96	0.61		0.66	BUFMX
BUFOX	0.61	0.62	0.58	0.66		BUFOX
	BUFBX	BUFGX	BUFEX	BUFMX	BUFOX

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Risk-Adjusted Indicators

There is a big difference between Buffalo Mutual Fund performing well and Buffalo High 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 Buffalo High'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
BUFBX	0.49	(0.02)	(0.12)	0.01	0.68	(0.54)	0.84	(0.91)	3.52
BUFGX	0.92	(0.02)	0.00	(0.23)	0.00	0.00	1.51	(2.23)	10.66
BUFEX	0.85	0.02	(0.02)	0.16	1.26	(0.90)	1.54	(1.95)	5.96
BUFMX	0.77	(0.05)	0.00	(0.19)	0.00	0.00	1.38	(1.82)	9.25
BUFOX	0.81	0.02	(0.04)	0.19	1.06	(0.91)	1.58	(1.68)	8.45

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