High Income Correlations

Mutual Funds . USA . 
Fund . High Income Fund
UIHIX Fund  USD 6.86  0.01  0.15%   
The current 90-days correlation between High Income Fund and Sp Midcap Index is 0.26 (i.e., Modest diversification). The correlation of High Income 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 Income Correlation With Market

Average diversification

The correlation between High Income Fund and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding High Income 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 Income 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 gross domestic product.

Moving together with High Mutual Fund

  0.77UISBX Short Term BondPairCorr
  0.95URHIX High Income FundPairCorr
  0.78URNQX Nasdaq 100 IndexPairCorr
  0.7URUSX Ultra Short TermPairCorr
  0.7UTMAX Target Managed AllocationPairCorr
  0.69UUSIX Ultra Short TermPairCorr
  0.65UIAGX Aggressive GrowthPairCorr
  0.88VWEAX Vanguard High YieldPairCorr
  0.92VWEHX Vanguard High YieldPairCorr
  0.81BHYCX Blackrock Hi YldPairCorr
  0.87BHYIX Blackrock High YieldPairCorr
  0.86BHYSX Blackrock Hi YldPairCorr
  0.85BHYAX Blackrock High YieldPairCorr
  0.91FAHHX American Funds AmericanPairCorr
  0.9FTAHX American Funds AmericanPairCorr
  0.91AHTFX American High IncomePairCorr
  0.9AHTCX American High IncomePairCorr
  0.64MGGYX Mirova Global GreenPairCorr
  0.63MGGAX Mirova Global GreenPairCorr

Moving against High Mutual Fund

  0.44UIPMX Precious Metals AndPairCorr
  0.42UIEMX Emerging MarketsPairCorr
  0.35HLDTX Hartford EmergingPairCorr
  0.34HLDCX Hartford EmergingPairCorr
  0.32HLDRX Hartford EmergingPairCorr
  0.31HLDIX Hartford EmergingPairCorr

Related Correlations Analysis

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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   
AMTOX
+ 0.73
SPMIX
DLTZX
+ 0.73
LOTCX
DLTZX
+ 0.55
FGWMX
AMTOX
+ 0.35
FGWMX
KMKCX
+ 0.34
LOTCX
KMKCX
+ 0.32
DLTZX
  
High negative correlations   
LOTCX
- 0.61
SPMIX
DLTZX
- 0.6
SPMIX
LOTCX
- 0.44
AMTOX
DLTZX
- 0.28
AMTOX

Risk-Adjusted Indicators

There is a big difference between High Mutual Fund performing well and High Income 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 Income'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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