High Income Correlations

Mutual Funds . USA . 
Fund . High Income Fund
NPHIX Fund  USD 8.81  0.01  0.11%   
The current 90-days correlation between High Income Fund and Delaware Minnesota High Yield is 0.5 (i.e., Very weak diversification). The correlation of High Income 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.

High Income Correlation With Market

Very weak diversification

The correlation between High Income Fund and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding High Income Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in High Income Fund. 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 High Mutual Fund

  0.67AMGIX Income GrowthPairCorr
  0.62TWCAX Select Fund APairCorr
  0.61TWCIX Select Fund InvestorPairCorr
  0.77TWAVX Short Term GovernmentPairCorr
  0.65TWBIX Balanced Fund InvestorPairCorr
  0.71TWGIX Growth Fund IPairCorr
  0.73TWGGX Global GrowthPairCorr
  0.64TWSCX Strategic Allocation:PairCorr
  0.65TWSAX Strategic Allocation:PairCorr
  0.63TWSMX Strategic Allocation:PairCorr
  0.81TWUSX Short Term GovernmentPairCorr
  0.66ANONX Small Cap GrowthPairCorr
  0.68ANOIX Small Cap GrowthPairCorr
  0.66ANTUX Nt Non IntrinsicPairCorr
  0.72ANTMX Nt International SmallPairCorr
  0.65AOCIX One Choice PortfolioPairCorr
  0.63AOGIX One Choice PortfolioPairCorr
  0.77AOMIX One Choice PortfolioPairCorr
  0.62AORYX One Choice PortfolioPairCorr
  0.64AOVIX One Choice PortfolioPairCorr
  0.7ARDMX One Choice 2040PairCorr
  0.7AREUX One Choice 2055PairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between High Mutual Fund performing well and High Income 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 High Income'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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