High-yield Fund Correlations

ABHIX Fund

USD 5.10 0.01 0.20%

The correlation of High-yield Fund 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 Fund Correlation With Market

Very weak diversification

The correlation between High Yield Fund Investor and DJI is 0.55 (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 Investor and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in High Yield Fund Investor. 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 High-yield Mutual Fund

0.67	AMDVX	Mid Cap Value	Pair Corr
0.75	CDBCX	Diversified Bond	Pair Corr
0.61	AMKIX	Emerging Markets	Pair Corr
0.82	TWADX	Value Fund A	Pair Corr
0.83	TWARX	Short Term Government	Pair Corr
0.61	TWAVX	Short Term Government	Pair Corr
0.67	AMVYX	Mid Cap Value	Pair Corr
0.67	AMVGX	Mid Cap Value	Pair Corr
0.9	TWEAX	Equity Income	Pair Corr
0.66	TWEIX	Equity Income	Pair Corr
0.83	TWGAX	International Growth	Pair Corr
0.67	TWIEX	International Growth	Pair Corr
0.62	TWMIX	Emerging Markets	Pair Corr
0.82	TWTCX	Intermediate Term Tax	Pair Corr
0.7	TWTIX	Intermediate Term Tax	Pair Corr
0.62	TWSCX	Strategic Allocation:	Pair Corr
0.81	TWUOX	Short Term Government	Pair Corr
0.86	TWWOX	Intermediate Term Tax	Pair Corr
0.98	NPHIX	High Income Fund	Pair Corr

Moving against High-yield Mutual Fund

0.41	TWCCX	Ultra Fund C	Pair Corr
0.36	TWCAX	Select Fund A	Pair Corr
0.37	TWRCX	Growth Fund C	Pair Corr
0.35	TWSIX	Select Fund I	Pair Corr
0.32	TWCUX	Ultra Fund Investor	Pair Corr
0.41	TWUAX	Ultra Fund A	Pair Corr
0.33	ANORX	Small Cap Growth	Pair Corr
0.32	TWUIX	Ultra Fund I	Pair Corr

Related Correlations Analysis

	ABHYX	ADFIX	BGNMX	BULIX	TWMIX
ABHYX		0.78	0.67	0.35	0.47	ABHYX
ADFIX	0.78		0.84	0.61	0.63	ADFIX
BGNMX	0.67	0.84		0.39	0.59	BGNMX
BULIX	0.35	0.61	0.39		0.7	BULIX
TWMIX	0.47	0.63	0.59	0.7		TWMIX
	ABHYX	ADFIX	BGNMX	BULIX	TWMIX

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Risk-Adjusted Indicators

There is a big difference between High-yield Mutual Fund performing well and High-yield Fund 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 Fund'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ABHYX	0.20	(0.02)	0.00	0.55	0.00	0.00	0.45	(0.45)	1.25
ADFIX	0.24	0.01	0.01	0.25	0.26	(0.27)	0.56	(0.54)	1.46
BGNMX	0.24	0.03	0.09	0.54	0.17	(0.32)	0.58	(0.45)	1.62
BULIX	0.83	0.02	0.01	0.04	1.14	(0.84)	1.61	(2.11)	4.72
TWMIX	0.77	0.02	0.02	0.04	1.05	(0.76)	1.62	(1.67)	6.18

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