Barrow Hanley Correlations

BCONX Fund

USD 9.57 0.05 0.52%

The current 90-days correlation between Barrow Hanley Credit and Pace High Yield is 0.53 (i.e., Very weak diversification). The correlation of Barrow Hanley 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.

Barrow Hanley Correlation With Market

Modest diversification

The correlation between Barrow Hanley Credit and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Barrow Hanley Credit 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 Barrow Hanley Credit. 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 board of governors.

Moving together with Barrow Mutual Fund

0.9	BFRNX	Barrow Hanley Floating	Pair Corr
0.75	BHYCX	Blackrock Hi Yld	Pair Corr
0.61	BHYIX	Blackrock High Yield	Pair Corr
0.61	BHYSX	Blackrock Hi Yld	Pair Corr
0.63	BHYAX	Blackrock High Yield	Pair Corr
0.77	FAHHX	American Funds American	Pair Corr
0.79	FTAHX	American Funds American	Pair Corr
0.76	AHTFX	American High Income	Pair Corr
0.74	AHTCX	American High Income	Pair Corr
0.78	KNPAX	Kinetics Paradigm	Pair Corr
0.78	WWNPX	Kinetics Paradigm	Pair Corr
0.71	IIRFX	Voya Russia Fund	Pair Corr
0.69	LETRX	Voya Russia Fund	Pair Corr
0.78	KNPCX	Kinetics Paradigm	Pair Corr
0.84	KMKAX	Kinetics Market Oppo	Pair Corr
0.78	KNPYX	Kinetics Paradigm	Pair Corr
0.69	IWRFX	Voya Russia Fund	Pair Corr
0.77	HYPPX	Mfs High Yield	Pair Corr
0.89	FLCPX	Fidelity Sai Large	Pair Corr
0.93	VFINX	Vanguard 500 Index	Pair Corr
0.74	KSCYX	Kinetics Small Cap	Pair Corr
0.91	OAZLX	Oakmark Select	Pair Corr
0.91	TEFQX	Firsthand Technology	Pair Corr
0.93	VFIAX	Vanguard 500 Index	Pair Corr
0.73	LSHAX	Horizon Spin Off	Pair Corr
0.82	SMFPX	Salient Mlp Energy	Pair Corr
0.88	PRGTX	T Rowe Price	Pair Corr
0.94	FCFMX	Fidelity Series Total	Pair Corr

Moving against Barrow Mutual Fund

0.76	BNIVX	Advisors Inner Circle	Pair Corr
0.74	BEMVX	Advisors Inner Circle	Pair Corr
0.73	BEOIX	Barrow Hanley Concen	Pair Corr
0.44	BTRIX	Bmo In Retirement	Pair Corr

Related Correlations Analysis

	PHDTX	ARTFX	SHYIX	AHYMX	PGHCX	MRHYX	RYIHX
PHDTX		0.94	0.91	0.71	0.89	0.85	-0.03	PHDTX
ARTFX	0.94		0.94	0.74	0.88	0.75	0.07	ARTFX
SHYIX	0.91	0.94		0.72	0.88	0.75	-0.22	SHYIX
AHYMX	0.71	0.74	0.72		0.75	0.61	-0.24	AHYMX
PGHCX	0.89	0.88	0.88	0.75		0.88	-0.11	PGHCX
MRHYX	0.85	0.75	0.75	0.61	0.88		-0.03	MRHYX
RYIHX	-0.03	0.07	-0.22	-0.24	-0.11	-0.03		RYIHX
	PHDTX	ARTFX	SHYIX	AHYMX	PGHCX	MRHYX	RYIHX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

ARTFX	+ 0.94	PHDTX
SHYIX	+ 0.94	ARTFX
SHYIX	+ 0.91	PHDTX
PGHCX	+ 0.89	PHDTX
PGHCX	+ 0.88	ARTFX
PGHCX	+ 0.88	SHYIX

High negative correlations

RYIHX	- 0.24	AHYMX
RYIHX	- 0.22	SHYIX
RYIHX	- 0.11	PGHCX
RYIHX	- 0.03	MRHYX
RYIHX	- 0.03	PHDTX

Risk-Adjusted Indicators

There is a big difference between Barrow Mutual Fund performing well and Barrow Hanley 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 Barrow Hanley'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
PHDTX	0.09	(0.01)	(0.15)	(0.25)	0.14	(0.13)	0.11	(0.22)	0.78
ARTFX	0.11	0.00	(0.10)	0.07	0.03	(0.19)	0.22	(0.22)	1.21
SHYIX	0.11	(0.01)	(0.15)	(0.14)	0.12	(0.22)	0.25	(0.25)	1.23
AHYMX	0.11	(0.01)	0.00	0.51	0.00	0.00	0.22	(0.22)	0.98
PGHCX	0.09	(0.02)	0.00	(0.23)	0.00	0.00	0.26	(0.26)	0.79
MRHYX	0.11	(0.01)	0.00	(0.13)	0.00	0.00	0.23	(0.24)	0.82
RYIHX	0.23	0.04	0.05	(0.16)	0.09	(0.30)	0.53	(0.38)	1.42

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