Virtus High Correlations

PHCHX Fund

USD 3.88 0.00 0.00%

The current 90-days correlation between Virtus High Yield and Virtus Convertible is 0.44 (i.e., Very weak diversification). The correlation of Virtus 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.

Virtus High Correlation With Market

Modest diversification

The correlation between Virtus High Yield 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 Virtus High Yield and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Virtus 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 Virtus Mutual Fund

0.89	VMSSX	Virtus Multi Sector	Pair Corr
0.79	SSAGX	Virtus Seix Government	Pair Corr
0.92	WCFRX	Virtus Westchester Credit	Pair Corr
0.97	VRHYX	Virtus High Yield	Pair Corr
0.84	VAADX	Virtus Convertible	Pair Corr
0.81	SIGVX	Ridgeworth Seix Gove	Pair Corr
0.78	VLPIX	Virtus Select Mlp	Pair Corr
0.92	VWEAX	Vanguard High Yield	Pair Corr
0.92	VWEHX	Vanguard High Yield	Pair Corr
0.89	BHYCX	Blackrock Hi Yld	Pair Corr
0.92	BHYIX	Blackrock High Yield	Pair Corr
0.91	BHYSX	Blackrock Hi Yld	Pair Corr
0.91	BHYAX	Blackrock High Yield	Pair Corr
0.97	FAHHX	American Funds American	Pair Corr
0.98	FTAHX	American Funds American	Pair Corr
0.97	AHTFX	American High Income	Pair Corr
0.96	AHTCX	American High Income	Pair Corr
0.72	FTCAX	Templeton Strained Bond	Pair Corr
0.62	LTMIX	Thornburg Limited Term	Pair Corr
0.85	DGFZX	Destinations Global Fixed	Pair Corr
0.65	ALCEX	Avantis Large Cap	Pair Corr
0.77	VFIAX	Vanguard 500 Index	Pair Corr
0.77	VFINX	Vanguard 500 Index	Pair Corr
0.68	DFEOX	Us E Equity	Pair Corr
0.82	LFRIX	Floating Rate	Pair Corr

Moving against Virtus Mutual Fund

0.75	USPSX	Profunds Ultrashort	Pair Corr
0.41	TCTGX	Transamerica Cleartrack	Pair Corr
0.41	TDKTX	Cleartrack 2015 Class	Pair Corr
0.37	VIESX	Virtus Emerging Markets	Pair Corr
0.74	USPIX	Profunds Ultrashort	Pair Corr
0.56	UIPIX	Ultrashort Mid Cap	Pair Corr
0.41	TCTJX	Transamerica Cleartrack	Pair Corr
0.41	TCSUX	Cleartrack 2020 Class	Pair Corr

Related Correlations Analysis

	VAADX	XNCVX	NCIDX	CCD	PCNTX	LCFYX
VAADX		0.95	0.99	-0.16	0.96	0.99	VAADX
XNCVX	0.95		0.93	-0.29	0.98	0.92	XNCVX
NCIDX	0.99	0.93		-0.16	0.96	0.97	NCIDX
CCD	-0.16	-0.29	-0.16		-0.24	-0.1	CCD
PCNTX	0.96	0.98	0.96	-0.24		0.94	PCNTX
LCFYX	0.99	0.92	0.97	-0.1	0.94		LCFYX
	VAADX	XNCVX	NCIDX	CCD	PCNTX	LCFYX

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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

NCIDX	+ 0.99	VAADX
LCFYX	+ 0.99	VAADX
PCNTX	+ 0.98	XNCVX
LCFYX	+ 0.97	NCIDX
PCNTX	+ 0.96	VAADX
PCNTX	+ 0.96	NCIDX

High negative correlations

CCD	- 0.29	XNCVX
PCNTX	- 0.24	CCD
CCD	- 0.16	NCIDX
CCD	- 0.16	VAADX
LCFYX	- 0.1	CCD

Risk-Adjusted Indicators

There is a big difference between Virtus Mutual Fund performing well and Virtus 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 Virtus 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
VAADX	0.59	0.08	0.06	0.29	0.61	(0.69)	1.19	(0.97)	4.02
XNCVX	0.62	0.04	0.01	0.16	0.74	(0.75)	1.29	(1.03)	4.08
NCIDX	0.48	0.06	0.04	0.25	0.53	(0.53)	1.03	(0.76)	3.30
CCD	0.68	(0.02)	0.00	(0.07)	0.00	0.00	1.54	(1.67)	4.87
PCNTX	0.50	0.03	0.00	0.16	0.56	(0.59)	1.05	(0.92)	3.52
LCFYX	0.52	0.08	0.07	0.36	0.52	(0.62)	1.12	(0.90)	3.79

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