High Income Correlations

Mutual Funds . USA . 
Fund . High Income Fund
USHYX Fund  USD 6.99  0.01  0.14%   
The current 90-days correlation between High Income Fund and Tax Exempt High Yield is 0.2 (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

Poor diversification

The correlation between High Income Fund and DJI is 0.62 (i.e., Poor 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 producer price index.

Moving together with High Mutual Fund

  0.85SRVEX Victory Diversified StockPairCorr
  0.82SSGSX Victory Sycamore SmallPairCorr
  0.9SBFCX Victory Incore InvestmentPairCorr
  0.81MMECX Victory IntegrityPairCorr
  0.84MMEAX Victory IntegrityPairCorr
  0.84MNNAX Victory Munder MultiPairCorr
  0.88IPFIX Victory IncorePairCorr
  0.81RSDYX Victory Incore LowPairCorr
  0.69RSEGX Victory Rs SmallPairCorr
  0.87RSDGX Victory Rs SelectPairCorr
  0.79RSFYX Victory Floating RatePairCorr
  0.87RSGGX Victory Rs GlobalPairCorr
  0.8RSGRX Victory Rs GrowthPairCorr
  0.84RSFCX Victory Floating RatePairCorr
  0.8RSFLX Victory Floating RatePairCorr
  0.78RSIFX Victory Rs SciencePairCorr
  0.88RSINX Victory Rs InvestorsPairCorr
  0.87RSIGX Victory Rs InternationalPairCorr
  0.89RSIYX Victory Rs InvestorsPairCorr
  0.87RSPFX Victory Rs PartnersPairCorr
  0.79RSNRX Victory Global NaturalPairCorr
  0.79RSNYX Victory Global NaturalPairCorr
  0.88RSPYX Victory Rs PartnersPairCorr
  0.88RSSYX Victory Rs SelectPairCorr
  0.84RSVAX Victory Rs ValuePairCorr
  0.84RSVYX Victory Rs ValuePairCorr
  0.75RSYEX Victory Rs SmallPairCorr
  0.91RSYYX Victory High YieldPairCorr
  0.85VSCVX Victory Integrity SmallPairCorr
  0.88VSVIX Victory Integrity SmallPairCorr
  0.86RCEYX Victory Rs LargePairCorr
  0.84RCOCX Victory Rs LargePairCorr
  0.83RVACX Victory Rs ValuePairCorr
  0.87MAIMX Victory Integrity MidPairCorr
  0.84VDSCX Victory Diversified StockPairCorr
  0.9URFRX Target Retirement 2040PairCorr
  0.91URFFX Target Retirement 2050PairCorr
  0.91URINX Target Retirement IncomePairCorr
  0.87URTRX Target Retirement 2030PairCorr

Related Correlations Analysis


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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