High Yield Correlations

Mutual Funds . USA . 
Fund . High Yield Fund
THYAX Fund  USD 7.58  0.01  0.13%   
The current 90-days correlation between High Yield Fund and Altegris Futures Evolution is 0.24 (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

Poor diversification

The correlation between High Yield Fund and DJI is 0.65 (i.e., 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 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

  0.66TVOYX Touchstone Small CapPairCorr
  0.62TEGCX Touchstone Sands CapitalPairCorr
  0.68TEGAX Mid Cap GrowthPairCorr
  0.7TEGIX Mid Cap GrowthPairCorr
  0.7TEGYX Mid Cap GrowthPairCorr
  0.78SAGWX Sentinel Small PanyPairCorr
  0.7TEQCX Touchstone SustainabilityPairCorr
  0.7TEQAX Touchstone SustainabilityPairCorr
  0.94SSCOX Sentinel Small PanyPairCorr
  0.95TFCCX Touchstone Large CapPairCorr
  0.95SSRRX Sentinel SmallPairCorr
  0.89TFFCX Touchstone FocusedPairCorr
  0.85TFGRX Touchstone Mid CapPairCorr
  0.75TFFIX Touchstone FocusedPairCorr
  0.94SSSGX Sentinel Low DurationPairCorr
  0.9TFFYX Touchstone FocusedPairCorr
  0.69SBACX Sentinel BalancedPairCorr
  0.73FRACX Touchstone FlexiblePairCorr
  0.91TFOAX Touchstone FocusedPairCorr
  0.78TFSLX Touchstone FlexiblePairCorr
  0.84TGVCX Growth OpportunitiesPairCorr
  0.84TGVFX Growth OpportunitiesPairCorr
  0.79TGVYX Growth OpportunitiesPairCorr
  0.88SCRLX Sentinel Mon StockPairCorr
  0.68SCSCX Sentinel Mon StockPairCorr
  1.0THIYX High Yield FundPairCorr
  1.0THYCX High Yield FundPairCorr
  1.0THYYX High Yield FundPairCorr
  0.87TICSX Touchstone Small PanyPairCorr
  0.68SEBLX Sentinel BalancedPairCorr
  0.63TIMPX Touchstone FundsPairCorr
  0.71TIQIX Touchstone SustainabilityPairCorr
  0.68SENCX Sentinel Mon StockPairCorr
  0.63SWFCX Sentinel InternationalPairCorr
  0.63SWRLX Sentinel InternationalPairCorr
  0.86TLCIX Touchstone Large CapPairCorr

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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