High Yield Correlations

Mutual Funds . USA . 
Fund . High Yield Strategy
RYHDX Fund  USD 123.41  0.76  0.61%   
The current 90-days correlation between High Yield Strategy and High Yield Strategy is 1.0 (i.e., No risk reduction). 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

Very poor diversification

The correlation between High Yield Strategy and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding High Yield Strategy and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in High Yield Strategy. 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 unemployment.

Moving together with HIGH Mutual Fund

  0.89RYBCX Basic MaterialsPairCorr
  0.9RYBAX Basic MaterialsPairCorr
  0.93RYBKX Banking Fund ClassPairCorr
  0.9RYBMX Basic MaterialsPairCorr
  0.95RYBHX Sp Midcap 400PairCorr
  0.9RYBIX Basic MaterialsPairCorr
  0.89RYAKX Russell 2000 15xPairCorr
  0.86RYAEX Europe 125x StrategyPairCorr
  0.9RYAHX Mid Cap 15xPairCorr
  0.9RYAUX Utilities Fund ClassPairCorr
  0.96RYATX Nasdaq 100 FundPairCorr
  0.95RYANX Nova Fund ClassPairCorr
  0.83RYAZX Sp Smallcap 600PairCorr
  0.95RYAWX Sp 500 PurePairCorr
  0.9RYAVX Sp Midcap 400PairCorr
  0.86RYDHX Dow Jones IndustrialPairCorr
  0.89RYDCX Mid Cap 15xPairCorr
  0.85RYDKX Dow Jones IndustrialPairCorr
  0.85RYCEX Europe 125x StrategyPairCorr
  0.96RYCHX Technology Fund ClassPairCorr
  0.96RYCCX Nasdaq 100 2xPairCorr
  0.92RYCNX Transportation Fund ClassPairCorr
  0.89RYCMX Russell 2000 15xPairCorr

Moving against HIGH Mutual Fund

  0.95RYARX Inverse Sp 500PairCorr
  0.94RYACX Inverse Nasdaq 100PairCorr
  0.94RYAIX Inverse Nasdaq 100PairCorr
  0.94RYALX Inverse Nasdaq 100PairCorr
  0.94RYAFX Inverse Russell 2000PairCorr
  0.94RYAPX Inverse Nasdaq 100PairCorr
  0.93RYAGX Inverse Mid CapPairCorr
  0.44RYABX Government Long BondPairCorr
  0.94RYCBX Inverse Sp 500PairCorr
  0.94RYCQX Inverse Russell 2000PairCorr
  0.93RYCLX Inverse Mid CapPairCorr
  0.92RYCDX Rydex Inverse NasdaqPairCorr
  0.9RYCWX Inverse Dow 2xPairCorr
  0.9RYCZX Inverse Dow 2xPairCorr
  0.45RYCGX Government Long BondPairCorr
  0.44RYGBX Government Long BondPairCorr

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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