High Yield Correlations

Mutual Funds . USA . 
Fund . High Yield Fund
PHYAX Fund  USD 8.12  0.02  0.25%   
The current 90-days correlation between High Yield Fund and Long Term Government Fund is 0.19 (i.e., Average diversification). The correlation of High Yield 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 Yield Correlation With Market

Very poor diversification

The correlation between High Yield Fund and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding High Yield Fund 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 High Yield 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 nation.

Moving together with High Mutual Fund

  0.69PWLEX Pimco Rae WorldwidePairCorr
  0.69PWLMX Pimco Rae WorldwidePairCorr
  0.69PWLIX Pimco Rae WorldwidePairCorr
  0.77PFBPX Pimco Foreign BondPairCorr
  0.83PFCJX Pimco Preferred AndPairCorr
  0.79PFATX Pimco FundamentalPairCorr
  0.83PFANX Pimco Capital SecPairCorr
  0.95PFIAX Pimco Floating IncomePairCorr
  0.92PFIIX Pimco Floating IncomePairCorr
  0.96PFIUX Pimco Unconstrained BondPairCorr
  0.83PFINX Pimco Capital SecPairCorr
  0.79PFMIX Municipal BondPairCorr
  0.95PFNCX Pimco Floating IncomePairCorr
  0.79PFONX Pimco International BondPairCorr
  0.78PFORX Pimco Foreign BondPairCorr
  0.83PFNNX Pimco Preferred AndPairCorr
  0.94PFNIX Pimco Low DurationPairCorr
  0.96PFNUX Pimco Dynamic BondPairCorr
  0.77PFOAX Pimco Foreign BondPairCorr
  0.73PFOCX Pimco Foreign BondPairCorr
  0.75PFRCX Foreign BondPairCorr
  0.77PFRAX Pimco Foreign BondPairCorr
  0.8PFRMX Pimco Inflation ResponsePairCorr
  0.82PFPNX Pimco Capital SecPairCorr
  0.93PFTCX Short Term FundPairCorr
  0.94PFTPX Pimco Floating IncomePairCorr
  0.76PFRRX Pimco Foreign BondPairCorr
  0.9PFSIX Pimco Emerging MarketsPairCorr
  0.78PFUUX Pimco Foreign BondPairCorr
  0.77PFUAX Foreign BondPairCorr
  0.79PFUIX Foreign BondPairCorr
  0.79PFUNX Pimco International BondPairCorr
  0.79PFUPX Pimco Foreign BondPairCorr
  0.88PGAPX Pimco Global MultiPairCorr
  0.88PXTIX Fundamental IndexplusPairCorr
  0.88PXTNX Pimco Rae PlusPairCorr
  0.94PGBIX Global Bond FundPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between High Mutual Fund performing well and High Yield 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 Yield'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
PWLEX  0.35  0.13  0.14 (5.86) 0.00 
(0.49)
 0.93 
(0.55)
 2.23 
PWLBX  0.40  0.09  0.03 (1.12) 0.37 
(0.50)
 1.02 
(0.55)
 2.71 
PWLMX  0.35  0.13  0.14 (5.39) 0.00 
(0.49)
 0.92 
(0.55)
 2.33 
PWLIX  0.35  0.13  0.13 (7.64) 0.00 
(0.50)
 0.92 
(0.55)
 2.33 
PFBPX  0.10  0.00 (0.32) 0.15  0.00 
(0.15)
 0.20 
(0.20)
 0.71 
PFCJX  0.10  0.02 (0.25) 0.49  0.00 
(0.14)
 0.21 
(0.20)
 0.83 
PFATX  0.51  0.13  0.14  0.65  0.22 
(0.64)
 1.29 
(0.84)
 2.34 
PFANX  0.09  0.03 (0.24) 4.94  0.00 
(0.14)
 0.21 
(0.10)
 0.82 
PFGAX  0.36  0.02 (0.08) 0.20  0.39 
(0.41)
 0.72 
(0.71)
 1.72 
PFGCX  0.36  0.02 (0.08) 0.19  0.40 
(0.41)
 0.72 
(0.71)
 1.72 

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2026 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY