Guggenheim High Correlations

Mutual Funds . USA . 
Fund . Guggenheim High Yield
SHYIX Fund  USD 8.14  0.01  0.12%   
The current 90-days correlation between Guggenheim High Yield and Siit High Yield is 0.83 (i.e., Very poor diversification). The correlation of Guggenheim 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.

Guggenheim High Correlation With Market

Very weak diversification

The correlation between Guggenheim High Yield and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guggenheim High Yield 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 Guggenheim 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 gross domestic product.

Moving together with Guggenheim Mutual Fund

  0.63GURAX Guggenheim Risk ManagedPairCorr
  0.63GURCX Guggenheim Risk ManagedPairCorr
  0.63GURIX Guggenheim Risk ManagedPairCorr
  0.76GURPX Guggenheim Risk ManagedPairCorr
  0.61SECEX Guggenheim StyleplusPairCorr
  0.95SECIX Guggenheim Large CapPairCorr
  0.65SECUX Guggenheim StyleplusPairCorr
  0.97SFECX Guggenheim StyleplusPairCorr
  0.71SFEPX Guggenheim StyleplusPairCorr
  0.75GIBCX Guggenheim Total ReturnPairCorr
  0.78GIBLX Guggenheim Total ReturnPairCorr
  0.78GIBRX Guggenheim Total ReturnPairCorr
  0.78GIBAX Guggenheim Total ReturnPairCorr
  0.73GIFPX Guggenheim Floating RatePairCorr
  0.98GIFAX Guggenheim Floating RatePairCorr
  0.73GIFIX Guggenheim Floating RatePairCorr
  0.62GILHX Guggenheim LimitedPairCorr
  0.99GIOAX Guggenheim Macro OppPairCorr
  0.67GIOIX Guggenheim Macro OppPairCorr
  0.67GIOPX Guggenheim Macro OppPairCorr
  0.65SHYSX Guggenheim High YieldPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Guggenheim Mutual Fund performing well and Guggenheim 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 Guggenheim 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.

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