1290 High Correlations

TNHIX Fund

USD 8.59 0.01 0.12%

The current 90-days correlation between 1290 High Yield and Prudential High Yield is 0.46 (i.e., Very weak diversification). The correlation of 1290 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.

1290 High Correlation With Market

Weak diversification

The correlation between 1290 High Yield and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 1290 High Yield 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 1290 High Yield. 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 gross domestic product.

Moving together with 1290 Mutual Fund

0.64	ESCKX	1290 Funds	Pair Corr
0.64	ESCJX	1290 Essex Small	Pair Corr
0.68	ESCFX	1290 Funds	Pair Corr
0.84	TNBIX	1290 Smartbeta Equity	Pair Corr
0.83	TNBRX	1290 Smartbeta Equity	Pair Corr
0.78	TNBCX	1290 Smartbeta Equity	Pair Corr
0.83	TNBAX	1290 Smartbeta Equity	Pair Corr
0.95	TNHAX	1290 High Yield	Pair Corr
0.88	TNHCX	1290 High Yield	Pair Corr
0.95	TNHRX	1290 High Yield	Pair Corr
0.74	TNKIX	1290 Retirement 2030	Pair Corr
0.73	TNJIX	1290 Retirement 2025	Pair Corr
0.82	TNMAX	1290 Multi Alternative	Pair Corr
0.86	TNMIX	1290 Multi Alternative	Pair Corr
0.82	TNMRX	1290 Multi Alternative	Pair Corr
0.77	TNLIX	1290 Retirement 2035	Pair Corr
0.79	TNOIX	1290 Retirement 2045	Pair Corr
0.81	TNNIX	1290 Retirement 2040	Pair Corr
0.83	TNQIX	1290 Retirement 2055	Pair Corr
0.62	TNVCX	1290 Gamco Smallmid	Pair Corr
0.71	TNVDX	1290 Doubleline Dynamic	Pair Corr
0.78	TNVAX	1290 Gamco Smallmid	Pair Corr
0.78	TNVIX	1290 Gamco Smallmid	Pair Corr
0.73	TNXAX	1290 Doubleline Dynamic	Pair Corr
0.81	TNXIX	1290 Retirement 2060	Pair Corr
0.78	TNVRX	1290 Gamco Smallmid	Pair Corr
0.83	TNWIX	1290 Retirement 2050	Pair Corr
0.7	TNYRX	1290 Doubleline Dynamic	Pair Corr
0.82	VWEAX	Vanguard High Yield	Pair Corr
0.81	VWEHX	Vanguard High Yield	Pair Corr
0.94	BHYCX	Blackrock Hi Yld	Pair Corr
0.92	BHYIX	Blackrock High Yield	Pair Corr
0.94	BHYSX	Blackrock Hi Yld	Pair Corr
0.92	BHYAX	Blackrock High Yield	Pair Corr
0.94	FAHHX	American Funds American	Pair Corr

Moving against 1290 Mutual Fund

0.44	TNURX	1290 Unconstrained Bond	Pair Corr
0.81	KF	Korea Closed	Pair Corr
0.44	TNUAX	1290 Unconstrained Bond	Pair Corr
0.44	TNUIX	1290 Unconstrained Bond	Pair Corr

Related Correlations Analysis

	PHYZX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF	VIASP	AAEVX
PHYZX		-0.59	0.0	-0.44	0.72	0.96	0.49	-0.25	0.18	0.69	PHYZX
444859BR2	-0.59		0.0	0.22	-0.53	-0.54	-0.03	0.41	-0.41	-0.69	444859BR2
AQUI	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	AQUI
BRRAY	-0.44	0.22	0.0		-0.45	-0.35	-0.4	-0.04	0.1	-0.32	BRRAY
MSTSX	0.72	-0.53	0.0	-0.45		0.67	0.34	-0.02	-0.08	0.75	MSTSX
LBHIX	0.96	-0.54	0.0	-0.35	0.67		0.51	-0.29	0.22	0.68	LBHIX
ABHYX	0.49	-0.03	0.0	-0.4	0.34	0.51		-0.05	-0.17	0.07	ABHYX
SCAXF	-0.25	0.41	0.0	-0.04	-0.02	-0.29	-0.05		-0.8	-0.43	SCAXF
VIASP	0.18	-0.41	0.0	0.1	-0.08	0.22	-0.17	-0.8		0.41	VIASP
AAEVX	0.69	-0.69	0.0	-0.32	0.75	0.68	0.07	-0.43	0.41		AAEVX
	PHYZX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF	VIASP	AAEVX

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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

LBHIX	+ 0.96	PHYZX
AAEVX	+ 0.75	MSTSX
MSTSX	+ 0.72	PHYZX
AAEVX	+ 0.69	PHYZX
AAEVX	+ 0.68	LBHIX
LBHIX	+ 0.67	MSTSX

High negative correlations

VIASP	- 0.8	SCAXF
AAEVX	- 0.69	444859BR2
444859BR2	- 0.59	PHYZX
LBHIX	- 0.54	444859BR2
MSTSX	- 0.53	444859BR2
MSTSX	- 0.45	BRRAY

Risk-Adjusted Indicators

There is a big difference between 1290 Mutual Fund performing well and 1290 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 1290 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
PHYZX	0.12	0.02	(0.46)	1.08	0.00	(0.29)	0.42	(0.21)	0.63
444859BR2	1.35	(0.09)	0.00	(0.14)	0.00	0.00	5.93	(5.79)	16.62
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRRAY	1.27	(0.13)	0.00	0.01	0.00	0.00	0.00	(2.98)	34.02
MSTSX	0.49	(0.04)	(0.13)	0.06	0.52	(0.61)	1.21	(1.02)	2.80
LBHIX	0.11	0.01	(0.42)	0.38	0.00	(0.29)	0.24	(0.24)	0.96
ABHYX	0.17	0.00	(0.24)	0.19	0.25	(0.24)	0.34	(0.33)	1.91
SCAXF	0.70	(0.41)	0.00	(0.98)	0.00	0.00	0.00	0.00	23.47
VIASP	0.74	0.07	(0.04)	(2.04)	1.13	(0.80)	2.28	(1.20)	7.18
AAEVX	0.48	0.05	(0.10)	(2.13)	0.54	(0.57)	0.93	(0.77)	2.76

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