High Yield Correlations

PHYTX Fund

USD 6.79 0.01 0.15%

The current 90-days correlation between High Yield Fund and Bbh Intermediate Municipal is 0.47 (i.e., Very weak 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

Modest diversification

The correlation between High Yield Fund and DJI is 0.27 (i.e., Modest 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 estimate.

Moving together with High Mutual Fund

0.78	SABPX	Strategic Asset Mana	Pair Corr
0.69	SACAX	Strategic Asset Mana	Pair Corr
0.75	SAGPX	Strategic Asset Mana	Pair Corr
0.78	SAIPX	Strategic Asset Mana	Pair Corr
0.75	PFLJX	Principal Lifetime 2050	Pair Corr
0.66	PFPPX	Midcap Growth	Pair Corr
0.69	PGBEX	Blue Chip Fund	Pair Corr
0.62	PGBFX	Blue Chip Fund	Pair Corr
0.69	PGBGX	Blue Chip Fund	Pair Corr
0.69	PGBHX	Blue Chip Fund	Pair Corr
0.78	PGLSX	Global Multi Strategy	Pair Corr
0.69	PGRTX	Smallcap Growth	Pair Corr
0.64	PGWIX	Midcap Growth	Pair Corr
0.77	SCIPX	Strategic Asset Mana	Pair Corr
0.75	SCGPX	Strategic Asset Mana	Pair Corr

Related Correlations Analysis

	BBINX	DSDYX	MBSAX	PATFX	PBXIX	TPYYX	USCBX	ANAZX
BBINX		0.82	0.77	0.96	-0.22	0.48	0.87	0.82	BBINX
DSDYX	0.82		0.78	0.72	-0.44	0.35	0.66	0.97	DSDYX
MBSAX	0.77	0.78		0.74	0.07	0.57	0.69	0.72	MBSAX
PATFX	0.96	0.72	0.74		-0.06	0.54	0.85	0.7	PATFX
PBXIX	-0.22	-0.44	0.07	-0.06		0.15	0.02	-0.56	PBXIX
TPYYX	0.48	0.35	0.57	0.54	0.15		0.46	0.32	TPYYX
USCBX	0.87	0.66	0.69	0.85	0.02	0.46		0.6	USCBX
ANAZX	0.82	0.97	0.72	0.7	-0.56	0.32	0.6		ANAZX
	BBINX	DSDYX	MBSAX	PATFX	PBXIX	TPYYX	USCBX	ANAZX

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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

ANAZX	+ 0.97	DSDYX
PATFX	+ 0.96	BBINX
USCBX	+ 0.87	BBINX
USCBX	+ 0.85	PATFX
DSDYX	+ 0.82	BBINX
ANAZX	+ 0.82	BBINX

High negative correlations

ANAZX	- 0.56	PBXIX
PBXIX	- 0.44	DSDYX
PBXIX	- 0.22	BBINX
PBXIX	- 0.06	PATFX

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
BBINX	0.12	0.01	(0.42)	(0.05)	0.13	(0.19)	0.29	(0.29)	1.07
DSDYX	0.16	0.00	(0.65)	(0.05)	0.15	(0.19)	0.38	(0.24)	0.92
MBSAX	0.21	(0.01)	(0.37)	0.09	0.22	(0.23)	0.37	(0.44)	1.25
PATFX	0.16	0.02	(0.25)	(0.12)	0.21	(0.24)	0.44	(0.35)	1.69
PBXIX	0.31	0.04	(0.09)	0.21	0.00	(0.40)	0.87	(0.55)	1.94
TPYYX	0.70	(0.08)	(0.11)	0.02	0.95	(0.74)	1.40	(1.71)	5.39
USCBX	0.16	0.00	(0.27)	0.18	0.22	(0.23)	0.39	(0.29)	1.74
ANAZX	0.19	0.00	(0.49)	0.66	0.20	(0.24)	0.29	(0.29)	1.01

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