High Yield Correlations

PHYFX Fund

USD 6.71 0.01 0.15%

The current 90-days correlation between High Yield Fund and Ab Small Cap is 0.26 (i.e., Modest 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

Almost no diversification

The correlation between High Yield Fund and DJI is 0.92 (i.e., Almost no 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 price.

Moving together with High Mutual Fund

0.88	SABPX	Strategic Asset Mana	Pair Corr
0.88	SACAX	Strategic Asset Mana	Pair Corr
0.87	SAGPX	Strategic Asset Mana	Pair Corr
0.94	PFIJX	Strategic Asset Mana	Pair Corr
0.94	PFIEX	International Equity	Pair Corr
0.92	PFIFX	Strategic Asset Mana	Pair Corr
0.92	PFISX	International Small Pany	Pair Corr
0.92	PFIPX	Strategic Asset Mana	Pair Corr
0.89	SAIPX	Strategic Asset Mana	Pair Corr
0.89	PFLJX	Principal Lifetime 2050	Pair Corr
0.93	SAUPX	Strategic Asset Mana	Pair Corr
0.9	PFUMX	Finisterre Unconstrained	Pair Corr
0.8	PGBEX	Blue Chip Fund	Pair Corr
0.8	PGBGX	Blue Chip Fund	Pair Corr
0.8	PGBHX	Blue Chip Fund	Pair Corr
0.85	PGDRX	Diversified Real Asset	Pair Corr
0.9	PGLSX	Global Multi Strategy	Pair Corr
0.9	STCCX	Short Term Income	Pair Corr
0.92	PGRTX	Smallcap Growth	Pair Corr
0.87	SCBPX	Strategic Asset Mana	Pair Corr
0.87	SCIPX	Strategic Asset Mana	Pair Corr
0.86	SCGPX	Strategic Asset Mana	Pair Corr
0.94	PHJEX	Principal Lifetime Hybrid	Pair Corr
0.92	PHJFX	Principal Lifetime Hybrid	Pair Corr
0.93	PHJGX	Principal Lifetime Hybrid	Pair Corr
0.93	PHJBX	Principal Lifetime Hybrid	Pair Corr
0.94	PHJDX	Principal Lifetime Hybrid	Pair Corr
0.93	PHJNX	Principal Lifetime Hybrid	Pair Corr
0.92	PHJQX	Principal Lifetime Hybrid	Pair Corr
0.93	PHJJX	Principal Lifetime Hybrid	Pair Corr
0.92	PHJMX	Principal Lifetime Hybrid	Pair Corr
0.93	PHJYX	Principal Lifetime Hybrid	Pair Corr

Related Correlations Analysis

	GQESX	CSMDX	IIXCX	BOSVX	ABVCX	LOTIX	SCYVX
GQESX		0.92	0.85	0.97	0.98	0.8	0.94	GQESX
CSMDX	0.92		0.89	0.96	0.96	0.88	0.96	CSMDX
IIXCX	0.85	0.89		0.89	0.86	0.78	0.84	IIXCX
BOSVX	0.97	0.96	0.89		0.98	0.84	0.96	BOSVX
ABVCX	0.98	0.96	0.86	0.98		0.85	0.96	ABVCX
LOTIX	0.8	0.88	0.78	0.84	0.85		0.89	LOTIX
SCYVX	0.94	0.96	0.84	0.96	0.96	0.89		SCYVX
	GQESX	CSMDX	IIXCX	BOSVX	ABVCX	LOTIX	SCYVX

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
GQESX	0.67	0.14	0.18	0.24	0.47	(0.81)	1.41	(1.12)	9.05
CSMDX	0.70	0.07	0.09	0.10	0.62	(0.86)	1.84	(1.17)	5.89
IIXCX	0.06	0.01	(0.20)	0.30	0.00	(0.18)	0.22	(0.11)	0.54
BOSVX	0.98	0.27	0.28	0.31	0.55	(1.23)	2.82	(1.44)	9.89
ABVCX	0.74	0.22	0.31	0.22	0.32	(0.97)	1.52	(1.12)	10.97
LOTIX	0.62	0.07	0.07	0.14	0.63	(0.67)	1.33	(1.09)	3.26
SCYVX	0.82	0.16	0.14	0.62	0.76	(1.00)	2.27	(1.61)	4.78

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High Yield Correlations

High Yield Correlation With Market

Almost no diversification

Moving together with High Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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