High Yield Correlations

Mutual Funds . USA . 
Fund . High Yield Fund
THYYX Fund  USD 7.82  0.01  0.13%   
The current 90-days correlation between High Yield Fund and Ab Small Cap is 0.04 (i.e., Significant 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 producer price index.

Moving together with High Mutual Fund

  0.93TVOYX Touchstone Small CapPairCorr
  0.72TEGCX Touchstone Sands CapitalPairCorr
  0.86TEGAX Mid Cap GrowthPairCorr
  0.85TEGIX Mid Cap GrowthPairCorr
  0.85TEGYX Mid Cap GrowthPairCorr
  0.93SAGWX Sentinel Small PanyPairCorr
  0.95TEQCX Touchstone Sustainability Potential GrowthPairCorr
  0.95TEQAX Touchstone SustainabilityPairCorr
  0.94SSCOX Sentinel Small PanyPairCorr
  0.95TFCCX Touchstone Large CapPairCorr
  0.92SSRRX Sentinel SmallPairCorr
  0.93TFFCX Touchstone FocusedPairCorr
  0.85TFGRX Touchstone Mid CapPairCorr
  0.94TFFIX Touchstone FocusedPairCorr
  0.94SSSGX Sentinel Low DurationPairCorr
  0.93TFFYX Touchstone FocusedPairCorr
  0.91SBACX Sentinel BalancedPairCorr
  0.68FRACX Touchstone FlexiblePairCorr
  0.93TFOAX Touchstone FocusedPairCorr
  0.82TFSLX Touchstone FlexiblePairCorr
  0.85TGVCX Growth OpportunitiesPairCorr
  0.85TGVFX Growth OpportunitiesPairCorr
  0.84TGVYX Growth OpportunitiesPairCorr
  0.91SCRLX Sentinel Mon StockPairCorr
  0.91SCSCX Sentinel Mon StockPairCorr
  0.99THIYX High Yield FundPairCorr
  1.0THYCX High Yield FundPairCorr
  1.0THYAX High Yield FundPairCorr
  0.95TICSX Touchstone Small PanyPairCorr
  0.92SEBLX Sentinel BalancedPairCorr
  0.62TIMPX Touchstone FundsPairCorr
  0.96TIQIX Touchstone SustainabilityPairCorr
  0.91SENCX Sentinel Mon StockPairCorr
  0.96SWFCX Sentinel InternationalPairCorr
  0.96SWRLX Sentinel InternationalPairCorr
  0.94TLCIX Touchstone Large CapPairCorr

Moving against High Mutual Fund

  0.37CFSIX Touchstone Sands CapitalPairCorr
  0.37CISGX 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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