High Yield Correlations

Mutual Funds . USA . 
Fund . High Yield Fund
THYCX Fund  USD 7.47  0.01  0.13%   
The current 90-days correlation between High Yield Fund and Goldman Sachs Technology is 0.44 (i.e., Very weak 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

Very weak diversification

The correlation between High Yield Fund and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding High Yield Fund 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 High Yield Fund. 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 main economic indicators.

Moving together with High Mutual Fund

  0.94TVOYX Touchstone Small CapPairCorr
  0.93TEGCX Touchstone Sands CapitalPairCorr
  0.95TEGAX Mid Cap GrowthPairCorr
  0.95TEGIX Mid Cap GrowthPairCorr
  0.95TEGYX Mid Cap GrowthPairCorr
  0.94SAGWX Sentinel Small PanyPairCorr
  0.94TEQCX Touchstone SustainabilityPairCorr
  0.94TEQAX Touchstone SustainabilityPairCorr
  0.93SSCOX Sentinel Small PanyPairCorr
  0.85TFCCX Touchstone Large CapPairCorr
  0.94SSRRX Sentinel SmallPairCorr
  0.96TFFCX Touchstone FocusedPairCorr
  0.95TFGRX Touchstone Mid CapPairCorr
  0.96TFFIX Touchstone FocusedPairCorr
  0.91SSSGX Sentinel Low DurationPairCorr
  0.96TFFYX Touchstone FocusedPairCorr
  0.97SBACX Sentinel BalancedPairCorr
  0.72FRACX Touchstone FlexiblePairCorr
  0.96TFOAX Touchstone FocusedPairCorr
  0.78TFSLX Touchstone FlexiblePairCorr
  0.95CFSIX Touchstone Sands CapitalPairCorr
  0.95TGVCX Growth OpportunitiesPairCorr
  0.95TGVFX Growth OpportunitiesPairCorr
  0.95TGVYX Growth OpportunitiesPairCorr
  0.95TGVVX Growth OpportunitiesPairCorr
  0.96SCRLX Sentinel Mon StockPairCorr
  0.96SCSCX Sentinel Mon StockPairCorr
  1.0THIYX High Yield FundPairCorr
  1.0THYAX High Yield FundPairCorr
  1.0THYYX High Yield FundPairCorr
  0.93TICSX Touchstone Small PanyPairCorr
  0.97SEBLX Sentinel BalancedPairCorr
  0.94TIQIX Touchstone SustainabilityPairCorr
  0.96SENCX Sentinel Mon StockPairCorr
  0.96SWFCX Sentinel InternationalPairCorr
  0.96SWRLX Sentinel InternationalPairCorr
  0.95CISGX Touchstone Sands CapitalPairCorr
  0.86TLCIX Touchstone Large CapPairCorr

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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