Victory High Correlations

GUHYX Fund

USD 5.54 0.01 0.18%

The current 90-days correlation between Victory High Yield and Fidelity California Municipal is 0.42 (i.e., Very weak diversification). The correlation of Victory 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.

Victory High Correlation With Market

Very weak diversification

The correlation between Victory High Yield and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Victory High Yield and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Victory 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 manufacturing.

Moving together with Victory Mutual Fund

0.72	GUBGX	Victory Rs International	Pair Corr
0.61	GETGX	Victory Sycamore Est	Pair Corr
0.96	MMEYX	Victory Integrity	Pair Corr
0.98	MNNCX	Victory Munder Multi	Pair Corr
0.64	MNNYX	Victory Munder Multi	Pair Corr
0.66	RSEJX	Victory Rs Small	Pair Corr
0.72	RSIRX	Victory Rs International	Pair Corr
0.9	RSPKX	Victory Rs Partners	Pair Corr
0.96	RSSRX	Victory Rs Select	Pair Corr
0.95	VSOIX	Victory Sycamore Small	Pair Corr
0.64	VSOYX	Victory Sycamore Small	Pair Corr
0.96	MRIMX	Victory Integrity Mid	Pair Corr
0.93	MRVSX	Victory Integrity Small	Pair Corr
0.61	MAISX	Victory Integrity	Pair Corr
0.97	MAIRX	Victory Trivalent	Pair Corr
0.96	MASCX	Victory Munder Small	Pair Corr
0.67	MSSIX	Victory Trivalent	Pair Corr
0.64	VDSIX	Victory Diversified Stock	Pair Corr
0.98	VDSRX	Victory Diversified Stock	Pair Corr
0.98	VDSYX	Victory Diversified Stock	Pair Corr
0.61	VEVIX	Victory Sycamore Est	Pair Corr
0.61	VEVYX	Victory Sycamore Est	Pair Corr
0.61	VEVRX	Victory Sycamore Est	Pair Corr
0.96	MCIMX	Victory Integrity Mid	Pair Corr
0.64	MUCCX	Victory Incore Total	Pair Corr
0.75	VFFIX	Victory Incore	Pair Corr
0.76	VFFRX	Victory Incore	Pair Corr
0.98	RGGKX	Victory Rs Global	Pair Corr
0.98	MUXRX	Victory Sp 500	Pair Corr
0.97	RGWCX	Victory Rs Growth	Pair Corr
0.93	MVSSX	Victory Integrity Small	Pair Corr

Related Correlations Analysis

	FCMAX	LOISX	AUNTX	MSTPX	JHSFX	AUNCX	PBCAX	SSAGX
FCMAX		0.97	0.85	0.99	0.87	0.85	0.89	0.76	FCMAX
LOISX	0.97		0.89	0.97	0.95	0.88	0.97	0.88	LOISX
AUNTX	0.85	0.89		0.87	0.89	1.0	0.88	0.8	AUNTX
MSTPX	0.99	0.97	0.87		0.88	0.87	0.9	0.77	MSTPX
JHSFX	0.87	0.95	0.89	0.88		0.86	0.99	0.96	JHSFX
AUNCX	0.85	0.88	1.0	0.87	0.86		0.86	0.77	AUNCX
PBCAX	0.89	0.97	0.88	0.9	0.99	0.86		0.95	PBCAX
SSAGX	0.76	0.88	0.8	0.77	0.96	0.77	0.95		SSAGX
	FCMAX	LOISX	AUNTX	MSTPX	JHSFX	AUNCX	PBCAX	SSAGX

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Risk-Adjusted Indicators

There is a big difference between Victory Mutual Fund performing well and Victory 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 Victory 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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FCMAX	0.15	0.00	(0.51)	0.14	0.14	(0.18)	0.34	(0.25)	1.02
LOISX	0.11	0.00	(0.55)	0.20	0.00	(0.17)	0.30	(0.20)	0.90
AUNTX	0.13	0.03	(0.54)	3.13	0.00	(0.16)	0.29	(0.19)	1.06
MSTPX	0.11	0.00	(0.64)	0.11	0.04	(0.16)	0.21	(0.21)	0.73
JHSFX	0.10	0.02	(0.80)	1.06	0.00	(0.16)	0.20	(0.10)	0.70
AUNCX	0.13	0.02	(0.52)	1.16	0.00	(0.16)	0.28	(0.19)	1.15
PBCAX	0.09	0.01	(0.67)	0.63	0.00	(0.15)	0.21	(0.21)	0.73
SSAGX	0.06	0.01	(1.17)	0.49	0.00	(0.18)	0.10	(0.10)	0.61

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Victory High Correlations

Victory High Correlation With Market

Very weak diversification

Moving together with Victory Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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