Catalyst/smh High Correlations

HIIIX Fund

USD 4.00 0.03 0.76%

The current 90-days correlation between Catalystsmh High Income and Gamco International Growth is 0.36 (i.e., Weak diversification). The correlation of Catalyst/smh 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.

Catalyst/smh High Correlation With Market

Poor diversification

The correlation between Catalystsmh High Income and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Catalystsmh High 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 Catalystsmh High 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 gross domestic product.

Moving together with Catalyst/smh Mutual Fund

0.98	HIICX	Catalystsmh High Income	Pair Corr
0.91	HIIFX	Catalystsmh High Income	Pair Corr
0.61	CFRIX	Catalyst/princeton	Pair Corr
0.7	CFRAX	Catalyst/princeton	Pair Corr
0.62	CPEIX	Catalyst Dynamic Alpha	Pair Corr
0.81	TRIIX	Catalystsmh Total Return	Pair Corr
0.81	TRIFX	Catalystsmh Total Return	Pair Corr
0.79	TRICX	Catalystsmh Total Return	Pair Corr

Moving against Catalyst/smh Mutual Fund

0.66	EIXCX	Catalyst Enhanced Income	Pair Corr
0.62	EIXAX	Catalyst Enhanced Income	Pair Corr
0.62	EIXIX	Catalyst Enhanced Income	Pair Corr
0.62	TCTGX	Transamerica Cleartrack	Pair Corr

Related Correlations Analysis

	RYHIX	KMDNX	MJSC	RYEIX	BHV	JMCGX	GIGRX
RYHIX		0.39	0.24	0.18	-0.54	0.1	0.58	RYHIX
KMDNX	0.39		0.92	0.92	0.06	-0.67	0.93	KMDNX
MJSC	0.24	0.92		0.95	0.34	-0.77	0.85	MJSC
RYEIX	0.18	0.92	0.95		0.36	-0.76	0.82	RYEIX
BHV	-0.54	0.06	0.34	0.36		-0.49	-0.11	BHV
JMCGX	0.1	-0.67	-0.77	-0.76	-0.49		-0.47	JMCGX
GIGRX	0.58	0.93	0.85	0.82	-0.11	-0.47		GIGRX
	RYHIX	KMDNX	MJSC	RYEIX	BHV	JMCGX	GIGRX

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

RYEIX	+ 0.95	MJSC
GIGRX	+ 0.93	KMDNX
MJSC	+ 0.92	KMDNX
RYEIX	+ 0.92	KMDNX
GIGRX	+ 0.85	MJSC
GIGRX	+ 0.82	RYEIX

High negative correlations

JMCGX	- 0.77	MJSC
JMCGX	- 0.76	RYEIX
JMCGX	- 0.67	KMDNX
BHV	- 0.54	RYHIX
JMCGX	- 0.49	BHV
GIGRX	- 0.47	JMCGX

Risk-Adjusted Indicators

There is a big difference between Catalyst/smh Mutual Fund performing well and Catalyst/smh 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 Catalyst/smh 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
RYHIX	0.63	(0.03)	(0.05)	(0.01)	0.71	(0.84)	1.21	(1.19)	3.55
KMDNX	0.03	0.00	0.00	0.00	0.00	0.00	0.10	0.00	0.30
MJSC	0.82	0.20	0.15	0.33	1.02	(0.92)	1.63	(1.63)	6.66
RYEIX	1.05	0.32	0.24	0.68	0.87	(1.24)	2.78	(1.74)	5.17
BHV	0.49	(0.01)	0.00	0.78	0.00	0.00	0.74	(1.46)	3.02
JMCGX	1.02	(0.12)	0.00	(0.08)	0.00	0.00	2.12	(2.46)	6.77
GIGRX	0.80	0.18	0.13	0.32	0.96	(0.87)	1.74	(1.49)	8.94

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