High Income Correlations

Mutual Funds . USA . 
Fund . High Income Fund
USHYX Fund  USD 6.95  0.01  0.14%   
The current 90-days correlation between High Income Fund and Global Gold Fund is 0.22 (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

Very poor diversification

The correlation between High Income Fund and DJI is 0.82 (i.e., Very 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 various price indices.

Moving together with High Mutual Fund

  0.97AHTFX American High IncomePairCorr
  0.97AHTCX American High IncomePairCorr
  0.97AHITX American High IncomePairCorr
  0.97BHYCX Blackrock Hi YldPairCorr
  0.97BHYIX Blackrock High YieldPairCorr
  0.98BHYSX Blackrock Hi YldPairCorr
  0.98BHYAX Blackrock High YieldPairCorr
  0.97VWEHX Vanguard High YieldPairCorr
  0.97VWEAX Vanguard High YieldPairCorr
  0.95PHYZX Prudential High YieldPairCorr
  0.94GAAKX Gmo Alternative AlloPairCorr
  0.94GAAGX Gmo Alternative AlloPairCorr
  0.78GPBFX Gmo E PlusPairCorr
  0.92GPMFX Guidepath Managed FuturesPairCorr
  0.92PQTAX Pimco Trends ManagedPairCorr
  0.92PQTNX Pimco Trends ManagedPairCorr
  0.92PQTIX Aa Pimco TrPairCorr
  0.79WARCX Wells Fargo AdvantagePairCorr
  0.92ISKIX Voya Index SolutionPairCorr
  0.93FJRLX Fidelity AdvisorPairCorr
  0.94TTRBX Ambrus Core BondPairCorr
  0.94HRIDX Harbor DiversifiedPairCorr
  0.88LOTCX Locorr Market TrendPairCorr
  0.66XOM Exxon Mobil CorpPairCorr
  0.62JNJ Johnson JohnsonPairCorr
  0.68INTC IntelPairCorr
  0.72MRK Merck Company Earnings Call This WeekPairCorr
  0.62CVX Chevron CorpPairCorr

Moving against High Mutual Fund

  0.58HPQ HP IncPairCorr
  0.44MSFT MicrosoftPairCorr
  0.33MMM 3M CompanyPairCorr

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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