Victory High Correlations

RHMMX Fund

USD 9.23 0.00 0.00%

The current 90-days correlation between Victory High Income and Income Fund Income is -0.03 (i.e., Good diversification). The correlation of Victory 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.

Victory High Correlation With Market

Significant diversification

The correlation between Victory High Income and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Victory High Income and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios. 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 board of governors.

Moving together with Victory Mutual Fund

0.77	GUTEX	Victory Tax Exempt	Pair Corr
0.76	RSTYX	Victory Tax Exempt	Pair Corr

Moving against Victory Mutual Fund

0.38	USTCX	Science Technology	Pair Corr
0.37	URITX	International Fund	Pair Corr
0.36	MAICX	Victory Trivalent	Pair Corr
0.36	USWGX	World Growth	Pair Corr
0.35	RSGFX	Victory Rs Select	Pair Corr
0.34	MCISX	Victory Trivalent	Pair Corr
0.33	UPMMX	Precious Metals And Steady Growth	Pair Corr
0.31	URSIX	Target Retirement 2060	Pair Corr
0.58	RMOMX	Victory Rs Mid	Pair Corr
0.38	UGMVX	Global Managed Volatility	Pair Corr
0.33	MUXYX	Victory Sp 500	Pair Corr

Related Correlations Analysis

	UINCX	UINQX	UITBX	UITCX	UITIX	SBFMX	RPPRX	MMIJX	MMMMX	MMMSX
UINCX		0.25	0.87	0.92	0.29	0.02	0.26	0.36	0.15	0.38	UINCX
UINQX	0.25		0.28	0.31	0.08	0.55	0.44	0.5	0.74	0.33	UINQX
UITBX	0.87	0.28		0.95	0.44	0.15	0.46	0.44	0.27	0.49	UITBX
UITCX	0.92	0.31	0.95		0.27	0.17	0.38	0.42	0.29	0.42	UITCX
UITIX	0.29	0.08	0.44	0.27		-0.09	0.42	0.24	-0.07	0.48	UITIX
SBFMX	0.02	0.55	0.15	0.17	-0.09		0.42	0.36	0.76	0.16	SBFMX
RPPRX	0.26	0.44	0.46	0.38	0.42	0.42		0.92	0.71	0.94	RPPRX
MMIJX	0.36	0.5	0.44	0.42	0.24	0.36	0.92		0.72	0.92	MMIJX
MMMMX	0.15	0.74	0.27	0.29	-0.07	0.76	0.71	0.72		0.51	MMMMX
MMMSX	0.38	0.33	0.49	0.42	0.48	0.16	0.94	0.92	0.51		MMMSX
	UINCX	UINQX	UITBX	UITCX	UITIX	SBFMX	RPPRX	MMIJX	MMMMX	MMMSX

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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

UITCX	+ 0.95	UITBX
MMMSX	+ 0.94	RPPRX
UITCX	+ 0.92	UINCX
MMIJX	+ 0.92	RPPRX
MMMSX	+ 0.92	MMIJX
UITBX	+ 0.87	UINCX

High negative correlations

SBFMX	- 0.09	UITIX
MMMMX	- 0.07	UITIX

Risk-Adjusted Indicators

There is a big difference between Victory Mutual Fund performing well and Victory 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 Victory 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
UINCX	0.15	0.00	(0.38)	0.04	0.13	(0.18)	0.34	(0.34)	0.95
UINQX	0.86	(0.10)	(0.06)	(0.01)	1.47	(0.79)	1.82	(2.07)	7.22
UITBX	0.15	0.00	(0.40)	0.04	0.12	(0.20)	0.32	(0.32)	0.86
UITCX	0.15	(0.01)	(0.40)	(0.03)	0.15	(0.17)	0.32	(0.32)	0.75
UITIX	0.06	0.01	(0.54)	2.40	0.00	(0.13)	0.24	(0.08)	0.48
SBFMX	0.34	(0.03)	0.00	(0.43)	0.00	0.00	0.52	(0.77)	2.11
RPPRX	0.79	(0.06)	(0.04)	0.03	1.14	(0.88)	1.84	(1.90)	7.13
MMIJX	0.76	(0.08)	(0.06)	0.01	1.14	(0.76)	1.42	(1.43)	6.28
MMMMX	1.04	(0.14)	0.00	(0.01)	0.00	0.00	2.14	(2.09)	14.00
MMMSX	0.82	(0.06)	(0.04)	0.04	1.11	(0.87)	1.83	(1.60)	6.68

Victory High Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Victory High mutual fund to make a market-neutral strategy. Peer analysis of Victory High could also be used in its relative valuation, which is a method of valuing Victory High by comparing valuation metrics with similar companies.

Income Fund Income Usaa Nasdaq 100 Intermediate Term Bond Fund Usaa Intermediate Term Usaa Tax Exempt Victory Portfolios Victory Rs Partners Victory Integrity Mid Cap Victory Integrity Discovery Victory Integrity Smallmid Cap American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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