1290 High Correlations

Mutual Funds . USA . 
Fund . 1290 High Yield
TNHIX Fund  USD 8.62  0.02  0.23%   
The current 90-days correlation between 1290 High Yield and Victory Diversified Stock is 0.06 (i.e., Significant 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

Very weak diversification

The correlation between 1290 High Yield and DJI is 0.56 (i.e., Very 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

  0.81TNBIX 1290 Smartbeta EquityPairCorr
  0.81TNBRX 1290 Smartbeta EquityPairCorr
  0.69TNBAX 1290 Smartbeta EquityPairCorr
  0.82TNHAX 1290 High YieldPairCorr
  1.0TNHRX 1290 High YieldPairCorr
  0.79TNMAX 1290 Multi AlternativePairCorr
  0.79TNMIX 1290 Multi AlternativePairCorr
  0.78TNMRX 1290 Multi AlternativePairCorr
  0.68TNVDX 1290 Doubleline DynamicPairCorr
  0.8TNVAX 1290 Gamco SmallmidPairCorr
  0.8TNVIX 1290 Gamco SmallmidPairCorr
  0.68TNXAX 1290 Doubleline DynamicPairCorr
  0.8TNVRX 1290 Gamco SmallmidPairCorr
  0.68TNYRX 1290 Doubleline DynamicPairCorr
  0.85BHYCX Blackrock Hi YldPairCorr
  0.87BHYIX Blackrock High YieldPairCorr
  0.79BHYSX Blackrock Hi YldPairCorr
  0.88BHYAX Blackrock High YieldPairCorr
  0.87AHTFX American High IncomePairCorr
  0.94AHTCX American High IncomePairCorr
  0.94AHITX American High IncomePairCorr
  0.87VWEHX Vanguard High YieldPairCorr
  0.87VWEAX Vanguard High YieldPairCorr
  0.89PHYZX Prudential High YieldPairCorr
  0.68FTYPX Fidelity Freedom IndexPairCorr
  0.75FFBTX Fidelity Freedom BlendPairCorr
  0.84GCAVX Gmo Small CapPairCorr
  0.81GQLOX Gmo Quality FundPairCorr
  0.79GHVIX Gmo High YieldPairCorr

Moving against 1290 Mutual Fund

  0.48GABFX Gmo Asset AllocationPairCorr

Related Correlations Analysis


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.

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