High Yield Correlations

Mutual Funds . USA . 
Fund . High Yield Fund
THYAX Fund  USD 7.57  0.00  0.00%   
The current 90-days correlation between High Yield Fund and Delaware Healthcare Fund is 0.33 (i.e., 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

Almost no diversification

The correlation between High Yield Fund and DJI is 0.91 (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 World Market Map 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

  0.92TVOYX Touchstone Small CapPairCorr
  0.87TEGCX Touchstone Sands CapitalPairCorr
  0.82TEGAX Mid Cap GrowthPairCorr
  0.81TEGIX Mid Cap GrowthPairCorr
  0.81TEGYX Mid Cap GrowthPairCorr
  0.87SAGWX Sentinel Small PanyPairCorr
  0.93TEQCX Touchstone SustainabilityPairCorr
  0.94TEQAX Touchstone SustainabilityPairCorr
  0.89SSCOX Sentinel Small PanyPairCorr
  0.95TFCCX Touchstone Large CapPairCorr
  0.88SSRRX Sentinel SmallPairCorr
  0.88TFFCX Touchstone FocusedPairCorr
  0.81TFGRX Touchstone Mid CapPairCorr
  0.87TFFIX Touchstone FocusedPairCorr
  0.96SSSGX Sentinel Low DurationPairCorr
  0.89TFFYX Touchstone FocusedPairCorr
  0.84SBACX Sentinel BalancedPairCorr
  0.73FRACX Touchstone FlexiblePairCorr
  0.89TFOAX Touchstone FocusedPairCorr
  0.83TFSLX Touchstone FlexiblePairCorr
  0.77TGVCX Growth OpportunitiesPairCorr
  0.78TGVFX Growth OpportunitiesPairCorr
  0.77TGVYX Growth OpportunitiesPairCorr
  0.77SCRLX Sentinel Mon StockPairCorr
  0.71SCSCX Sentinel Mon StockPairCorr
  1.0THIYX High Yield FundPairCorr
  1.0THYCX High Yield FundPairCorr
  1.0THYYX High Yield FundPairCorr
  0.9TICSX Touchstone Small PanyPairCorr
  0.79SEBLX Sentinel BalancedPairCorr
  0.68TIMPX Touchstone FundsPairCorr
  0.96TIQIX Touchstone SustainabilityPairCorr
  0.73SENCX Sentinel Mon StockPairCorr
  0.96SWFCX Sentinel InternationalPairCorr
  0.95SWRLX Sentinel InternationalPairCorr
  0.94TLCIX Touchstone Large CapPairCorr

Moving against High Mutual Fund

  0.49CFSIX Touchstone Sands CapitalPairCorr
  0.49CISGX Touchstone Sands CapitalPairCorr

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.

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