High Yield Correlations

Mutual Funds . USA . 
Fund . High Yield Fund
THYYX Fund  USD 7.74  0.02  0.26%   
The current 90-days correlation between High Yield Fund and Europac Gold Fund is 0.29 (i.e., Modest 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 manufacturing.

Moving together with High Mutual Fund

  0.91TVOYX Touchstone Small CapPairCorr
  0.87TEGCX Touchstone Sands CapitalPairCorr
  0.87TEGAX Mid Cap GrowthPairCorr
  0.88TEGYX Mid Cap GrowthPairCorr
  0.88SAGWX Sentinel Small PanyPairCorr
  0.91TEQAX Touchstone SustainabilityPairCorr
  0.88SSCOX Sentinel Small PanyPairCorr
  0.9TFFCX Touchstone FocusedPairCorr
  0.92TFFYX Touchstone FocusedPairCorr
  0.93SBACX Sentinel BalancedPairCorr
  0.9TFOAX Touchstone FocusedPairCorr
  0.87CFSIX Touchstone Sands CapitalPairCorr
  0.88TGVCX Growth OpportunitiesPairCorr
  0.88TGVFX Growth OpportunitiesPairCorr
  0.89TGVVX Growth OpportunitiesPairCorr
  0.9SCRLX Sentinel Mon StockPairCorr
  0.9SCSCX Sentinel Mon StockPairCorr
  0.96THIYX High Yield FundPairCorr
  0.93THYCX High Yield FundPairCorr
  0.9TICSX Touchstone Small PanyPairCorr
  0.9SEBLX Sentinel BalancedPairCorr
  0.91TIQIX Touchstone SustainabilityPairCorr
  0.9SENCX Sentinel Mon StockPairCorr
  0.91SWRLX Sentinel InternationalPairCorr
  0.87CISGX Touchstone Sands CapitalPairCorr
  0.81TLCYX Touchstone Large CapPairCorr
  0.87TMAPX Touchstone Mid CapPairCorr
  0.93TMARX Touchstone ArbitragePairCorr
  0.96TMAYX Touchstone ArbitragePairCorr
  0.96TMACX Touchstone ArbitragePairCorr
  0.87TMCJX Touchstone Mid CapPairCorr
  0.93SIBLX Sentinel BalancedPairCorr
  0.92SICWX Sentinel Mon StockPairCorr
  0.88SIGWX Sentinel Small PanyPairCorr
  0.87TMPRX Touchstone Mid CapPairCorr
  0.87TOECX 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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