High Yield Correlations

Mutual Funds . USA . 
Fund . High Yield Portfolio
MSYIX Fund  USD 8.56  0.01  0.12%   
The current 90-days correlation between High Yield Portfolio and Jpmorgan Diversified Fund is 0.7 (i.e., Poor diversification). The correlation of High Yield 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 Yield Correlation With Market

Poor diversification

The correlation between High Yield Portfolio and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding High Yield Portfolio and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in High Yield Portfolio. 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

  0.98TEMUX Emerging Markets EquityPairCorr
  0.93DINDX Global Fixed IncomePairCorr
  0.91DINCX Global Fixed IncomePairCorr
  0.94DINAX Global Fixed IncomePairCorr
  0.96MLMAX Global E PortfolioPairCorr
  0.96MLMCX Global E PortfolioPairCorr
  0.96MLNSX Global Centrated PorPairCorr
  0.96MLMIX Global E PortfolioPairCorr
  0.96MLMSX Global E PortfolioPairCorr
  0.96MLNCX Global Centrated PorPairCorr
  0.96MLNAX Global Centrated PorPairCorr
  0.96MLNIX Global Centrated PorPairCorr
  0.98MMCGX Mid Cap GrowthPairCorr
  0.98MMKBX Emerging Markets PorPairCorr
  0.98MMMPX Msif Emerging MarketsPairCorr
  0.93MNOPX International OpportunityPairCorr
  1.0THYUX High Yield FundPairCorr
  0.69TIFUX International FixedPairCorr
  0.96TIEUX International EquityPairCorr
  0.77TIIUX Core Fixed IncomePairCorr
  0.75TILUX Inflation Linked FixedPairCorr
  0.88MORGX Morgan Stanley MortgagePairCorr
  0.98MPAIX Advantage Portfolio ClassPairCorr
  0.99MPBAX Global StrategistPairCorr
  0.91MPFDX Corporate Bond PortfolioPairCorr
  0.98MPEGX Mid Cap GrowthPairCorr
  0.98MRGEX Msif Emerging MarketsPairCorr
  0.84MRJCX Real Assets PortfolioPairCorr
  0.85MRJAX Real Assets PortfolioPairCorr
  0.85MRJIX Real Assets PortfolioPairCorr
  1.0MRHYX Msift High YieldPairCorr
  0.85MRJSX Real Assets PortfolioPairCorr
  0.93MRNPX Msif InternationalPairCorr
  0.94MAAQX Morgan Stanley InstiPairCorr
  0.94MAAUX Morgan Stanley InstiPairCorr
  0.94MAADX Morgan Stanley InstiPairCorr
  0.94MAAOX Morgan Stanley InstiPairCorr
  0.98MADSX Msif Advantage PortPairCorr
  0.98MACGX Mid Cap GrowthPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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