Buffalo High Correlations

Mutual Funds . USA . 
Fund . Buffalo High Yield
BUIHX Fund  USD 10.67  0.05  0.47%   
The current 90-days correlation between Buffalo High Yield and Buffalo Small Cap is 0.66 (i.e., Poor diversification). The correlation of Buffalo 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.

Buffalo High Correlation With Market

Very weak diversification

The correlation between Buffalo 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 Buffalo High Yield and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Buffalo 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 rate.

Moving together with Buffalo Mutual Fund

  0.96BUFSX Buffalo Small CapPairCorr
  0.91BUFOX Buffalo Emerging OppPairCorr
  0.96BUFMX Buffalo Mid CapPairCorr
  0.95BUFIX Buffalo InternationalPairCorr
  0.97BUFGX Buffalo GrowthPairCorr
  1.0BUFHX Buffalo High YieldPairCorr
  0.98BUFEX Buffalo Large CapPairCorr
  0.97BUFDX Buffalo Dividend FocusPairCorr
  0.97BUFBX Buffalo Flexible IncomePairCorr
  0.94BUFTX Buffalo DiscoveryPairCorr
  0.94BUITX Buffalo DiscoveryPairCorr
  0.96BUISX Buffalo Small CapPairCorr
  0.96BUIMX Buffalo Mid CapPairCorr
  0.91BUIOX Buffalo Early StagePairCorr
  0.95BUIIX Buffalo InternationalPairCorr
  0.98BUIEX Buffalo Large CapPairCorr
  0.97BUIDX Buffalo Dividend FocusPairCorr
  0.97BUIBX Buffalo Flexible IncomePairCorr
  0.97BIIGX Buffalo GrowthPairCorr
  0.98VWEAX Vanguard High YieldPairCorr
  0.98VWEHX Vanguard High YieldPairCorr
  0.99BHYCX Blackrock Hi YldPairCorr
  0.99BHYIX Blackrock High YieldPairCorr
  0.99BHYSX Blackrock Hi YldPairCorr
  0.99BHYAX Blackrock High YieldPairCorr
  0.96FAHHX American Funds AmericanPairCorr
  0.96FTAHX American Funds AmericanPairCorr
  0.96AHTFX American High IncomePairCorr
  0.96AHTCX American High IncomePairCorr
  0.62FGPMX Franklin Gold AndPairCorr
  0.62FKRCX Franklin Gold PreciousPairCorr
  0.62FRGOX Franklin Gold PreciousPairCorr
  0.98ISGAX Voya Solution BalancedPairCorr
  0.99VLSMX Valic Company IPairCorr
  0.78PINFX Invesco Multi AssetPairCorr
  0.95USDIX Ubs Ultra ShortPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Buffalo Mutual Fund performing well and Buffalo 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 Buffalo 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
BUFSX  0.89  0.05  0.06  0.18  0.89 
(0.99)
 2.12 
(1.69)
 6.17 
BUFOX  0.93  0.04  0.04  0.17  1.03 
(1.02)
 2.07 
(2.00)
 6.15 
BUFMX  0.73  0.06  0.05  0.19  0.70 
(0.79)
 1.80 
(1.37)
 5.55 
BUFIX  0.56  0.08  0.02  0.27  0.50 
(0.63)
 1.37 
(1.07)
 3.86 
BUFGX  0.81  0.13  0.13  0.25  0.69 
(0.93)
 2.25 
(1.65)
 5.98 
BUFHX  0.13  0.04 (0.40) 0.57  0.00 
(0.18)
 0.38 
(0.19)
 0.97 
BUFEX  0.74  0.15  0.16  0.29  0.58 
(0.91)
 2.23 
(1.23)
 5.04 
BUFDX  0.56  0.05  0.03  0.20  0.55 
(0.63)
 1.56 
(1.02)
 4.44 
BUFBX  0.55  0.03 (0.03) 0.18  0.57 
(0.59)
 1.64 
(0.92)
 3.98 
BUFTX  0.73  0.07  0.07  0.20  0.70 
(0.87)
 1.93 
(1.42)
 5.88 

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