Integrity High Correlations

Mutual Funds . USA . 
Fund . Integrity High Income
IHFIX Fund  USD 7.55  0.01  0.13%   
The current 90-days correlation between Integrity High Income and Dreyfusstandish Global Fixed is 0.23 (i.e., Modest diversification). The correlation of Integrity 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.

Integrity High Correlation With Market

Modest diversification

The correlation between Integrity High Income and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Integrity 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 Integrity 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 Integrity Mutual Fund

  0.64VWEAX Vanguard High YieldPairCorr
  0.84BHYCX Blackrock Hi YldPairCorr
  0.97BHYIX Blackrock High YieldPairCorr
  0.97BHYSX Blackrock Hi YldPairCorr
  0.97BHYAX Blackrock High YieldPairCorr
  0.95FAHHX American Funds AmericanPairCorr
  0.95FTAHX American Funds AmericanPairCorr
  0.96AHTCX American High IncomePairCorr

Related Correlations Analysis

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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   
XJCEX
+ 0.91
HCEGX
DFVEX
+ 0.9
ARTNX
DFVEX
+ 0.88
HCEGX
HCEGX
+ 0.85
LEQCX
XJCEX
+ 0.79
LEQCX
DFVEX
+ 0.79
LEQCX
  
High negative correlations   
PAEIX
- 0.09
LEQCX

Risk-Adjusted Indicators

There is a big difference between Integrity Mutual Fund performing well and Integrity 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 Integrity 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.

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