High Yield Correlations

Mutual Funds . USA . 
Fund . High Yield Fund
THYCX Fund  USD 7.44  0.01  0.13%   
The current 90-days correlation between High Yield Fund and Fbanjx is 0.61 (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

Very weak diversification

The correlation between High Yield Fund and DJI is 0.54 (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 interest.

Moving together with High Mutual Fund

  0.72TVOYX Touchstone Small CapPairCorr
  0.89TEGCX Touchstone Sands CapitalPairCorr
  0.83TEGAX Mid Cap GrowthPairCorr
  0.83TEGIX Mid Cap GrowthPairCorr
  0.83TEGYX Mid Cap GrowthPairCorr
  0.73SAGWX Sentinel Small PanyPairCorr
  0.77TEQCX Touchstone SustainabilityPairCorr
  0.77TEQAX Touchstone SustainabilityPairCorr
  0.71SSCOX Sentinel Small PanyPairCorr
  0.73SSRRX Sentinel SmallPairCorr
  0.9TFFCX Touchstone FocusedPairCorr
  0.83TFGRX Touchstone Mid CapPairCorr
  0.9TFFIX Touchstone FocusedPairCorr
  0.76SSSGX Sentinel Low DurationPairCorr
  0.9TFFYX Touchstone FocusedPairCorr
  0.89SBACX Sentinel BalancedPairCorr
  0.79FRACX Touchstone FlexiblePairCorr
  0.79TFSLX Touchstone FlexiblePairCorr
  0.8CFSIX Touchstone Sands CapitalPairCorr
  0.8TGVCX Growth OpportunitiesPairCorr
  0.76TGVFX Growth OpportunitiesPairCorr
  0.8TGVYX Growth OpportunitiesPairCorr
  0.8TGVVX Growth OpportunitiesPairCorr
  0.87SCRLX Sentinel Mon StockPairCorr
  0.88SCSCX Sentinel Mon StockPairCorr
  0.99THIYX High Yield FundPairCorr
  0.99THYAX High Yield FundPairCorr
  0.99THYYX High Yield FundPairCorr
  0.73TICSX Touchstone Small PanyPairCorr
  0.88SEBLX Sentinel BalancedPairCorr
  0.76TIMPX Touchstone FundsPairCorr
  0.77TIQIX Touchstone SustainabilityPairCorr
  0.87SENCX Sentinel Mon StockPairCorr
  0.85SWFCX Sentinel InternationalPairCorr
  0.85SWRLX Sentinel InternationalPairCorr
  0.81CISGX Touchstone Sands CapitalPairCorr
  0.61TLCIX Touchstone Large CapPairCorr

Related Correlations Analysis


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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