The Fixed Correlations

HCHYX Fund

USD 7.63 0.04 0.53%

The current 90-days correlation between Fixed Income and Transamerica International Equity is 0.26 (i.e., Modest diversification). The correlation of The Fixed 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.

The Fixed Correlation With Market

Very good diversification

The correlation between The Fixed Income and DJI is -0.49 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Fixed Income and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in The Fixed Income. 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 services.

Moving together with The Mutual Fund

0.61

HPQ

HP Inc

Pair Corr

Moving against The Mutual Fund

0.63	GE	GE Aerospace	Pair Corr
0.56	VTIAX	Vanguard Total Inter	Pair Corr
0.55	BA	Boeing	Pair Corr
0.52	DIS	Walt Disney Earnings Call This Week	Pair Corr
0.49	MRK	Merck Company Earnings Call This Week	Pair Corr
0.47	DD	Dupont De Nemours	Pair Corr
0.47	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.44	JPM	JPMorgan Chase	Pair Corr
0.4	VFINX	Vanguard 500 Index	Pair Corr
0.4	BAC	Bank of America	Pair Corr
0.39	VTSAX	Vanguard Total Stock	Pair Corr
0.39	VTSMX	Vanguard Total Stock	Pair Corr
0.39	VSTSX	Vanguard Total Stock	Pair Corr
0.39	VITSX	Vanguard Total Stock	Pair Corr
0.39	VSMPX	Vanguard Total Stock	Pair Corr
0.39	VFFSX	Vanguard 500 Index	Pair Corr
0.39	CVX	Chevron Corp Earnings Call This Week	Pair Corr
0.38	VFIAX	Vanguard 500 Index	Pair Corr
0.38	NHS	Neuberger Berman High	Pair Corr

Related Correlations Analysis

	MSTFX	PWITX	CIESX	JGECX	CSPFX	TRWIX
MSTFX		0.92	0.95	0.99	0.96	0.92	MSTFX
PWITX	0.92		0.96	0.94	0.92	0.97	PWITX
CIESX	0.95	0.96		0.96	0.97	0.95	CIESX
JGECX	0.99	0.94	0.96		0.96	0.95	JGECX
CSPFX	0.96	0.92	0.97	0.96		0.95	CSPFX
TRWIX	0.92	0.97	0.95	0.95	0.95		TRWIX
	MSTFX	PWITX	CIESX	JGECX	CSPFX	TRWIX

Risk-Adjusted Indicators

There is a big difference between The Mutual Fund performing well and The Fixed 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 The Fixed'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
MSTFX	0.71	0.30	0.36	1.03	0.00	(0.87)	1.21	(1.14)	14.59
PWITX	0.66	0.26	0.30	0.74	0.04	(0.83)	1.26	(1.01)	11.20
CIESX	0.66	0.10	0.11	0.20	0.54	(0.74)	1.39	(1.07)	7.53
JGECX	0.67	0.21	0.22	1.00	0.29	(0.83)	1.49	(1.13)	9.68
CSPFX	0.76	0.11	0.13	0.18	0.56	(0.91)	1.46	(1.21)	6.51
TRWIX	0.64	0.16	0.19	0.31	0.41	(0.76)	1.42	(1.14)	5.29

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