Barings High Correlations

BXHYX Fund

USD 8.14 0.01 0.12%

The current 90-days correlation between Barings High Yield and Barings Active Short is 0.53 (i.e., Very weak diversification). The correlation of Barings High 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.

Barings High Correlation With Market

Average diversification

The correlation between Barings High Yield and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Barings High Yield 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 Barings High Yield. 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 Barings Mutual Fund

0.79	BXDCX	Barings Active Short	Pair Corr
0.86	BXDYX	Barings Active Short	Pair Corr
0.89	BXFIX	Barings Global Floating	Pair Corr
0.89	BXFCX	Barings Global Floating	Pair Corr
0.89	BXFAX	Barings Global Floating	Pair Corr
0.89	BXFYX	Barings Global Floating	Pair Corr
0.99	BXHCX	Barings High Yield	Pair Corr
0.91	BXICX	Barings Global Credit	Pair Corr
0.96	BXIAX	Barings Global Credit	Pair Corr
0.96	BXIYX	Barings Global Credit	Pair Corr
0.92	BXITX	Barings Global Credit	Pair Corr
0.69	VWEAX	Vanguard High Yield	Pair Corr
0.65	VWEHX	Vanguard High Yield	Pair Corr
0.87	BHYCX	Blackrock Hi Yld	Pair Corr
0.93	BHYIX	Blackrock High Yield	Pair Corr
0.86	BHYSX	Blackrock Hi Yld	Pair Corr
0.93	BHYAX	Blackrock High Yield	Pair Corr
0.96	FAHHX	American Funds American	Pair Corr
0.96	FTAHX	American Funds American	Pair Corr
0.95	AHTFX	American High Income	Pair Corr
0.92	AHTCX	American High Income	Pair Corr
0.82	ANCFX	American Funds Funda	Pair Corr
0.8	VEXRX	Vanguard Explorer	Pair Corr
0.8	CRF	Cornerstone Strategic	Pair Corr
0.77	GMAWX	Gmo Small Cap	Pair Corr
0.85	JILGX	Multimanager Lifestyle	Pair Corr
0.87	AMEIX	Equity Growth	Pair Corr
0.66	NSBFX	Nuveen Santa Barbara	Pair Corr

Moving against Barings Mutual Fund

0.39	BXECX	Barings Emerging Markets	Pair Corr
0.36	BXEAX	Barings Emerging Markets	Pair Corr
0.35	BXEIX	Barings Emerging Markets	Pair Corr
0.48	PFHCX	Pacific Funds Small	Pair Corr
0.45	NHS	Neuberger Berman High	Pair Corr

Related Correlations Analysis

	BXDCX	BXECX	BXEAX	BXDYX	BXFIX	BXFCX	BXFAX	BXEYX	BXEIX	BXFYX
BXDCX		0.08	0.11	0.97	0.61	0.54	0.54	0.27	0.11	0.54	BXDCX
BXECX	0.08		1.0	-0.04	-0.64	-0.68	-0.66	0.96	1.0	-0.68	BXECX
BXEAX	0.11	1.0		-0.02	-0.62	-0.65	-0.64	0.97	1.0	-0.66	BXEAX
BXDYX	0.97	-0.04	-0.02		0.69	0.64	0.64	0.15	-0.01	0.64	BXDYX
BXFIX	0.61	-0.64	-0.62	0.69		0.96	0.95	-0.44	-0.61	0.96	BXFIX
BXFCX	0.54	-0.68	-0.65	0.64	0.96		0.99	-0.52	-0.65	1.0	BXFCX
BXFAX	0.54	-0.66	-0.64	0.64	0.95	0.99		-0.51	-0.64	0.99	BXFAX
BXEYX	0.27	0.96	0.97	0.15	-0.44	-0.52	-0.51		0.97	-0.53	BXEYX
BXEIX	0.11	1.0	1.0	-0.01	-0.61	-0.65	-0.64	0.97		-0.65	BXEIX
BXFYX	0.54	-0.68	-0.66	0.64	0.96	1.0	0.99	-0.53	-0.65		BXFYX
	BXDCX	BXECX	BXEAX	BXDYX	BXFIX	BXFCX	BXFAX	BXEYX	BXEIX	BXFYX

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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

BXEAX	+ 1.0	BXECX
BXEIX	+ 1.0	BXECX
BXEIX	+ 1.0	BXEAX
BXFYX	+ 1.0	BXFCX
BXFAX	+ 0.99	BXFCX
BXFYX	+ 0.99	BXFAX

High negative correlations

BXFYX	- 0.68	BXECX
BXFCX	- 0.68	BXECX
BXFYX	- 0.66	BXEAX
BXFAX	- 0.66	BXECX
BXFYX	- 0.65	BXEIX
BXEIX	- 0.65	BXFCX

Risk-Adjusted Indicators

There is a big difference between Barings Mutual Fund performing well and Barings High 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 Barings High'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
BXDCX	0.08	0.00	(0.57)	0.00	(0.15)	0.22	(0.11)	0.54
BXECX	0.22	(0.03)	0.00	(0.23)	0.00	0.53	(0.40)	1.45
BXEAX	0.22	(0.03)	0.00	(0.28)	0.00	0.53	(0.40)	1.45
BXDYX	0.09	0.00	(0.54)	0.00	(0.14)	0.22	(0.11)	0.65
BXFIX	0.08	0.03	(0.40)	(1.41)	(0.22)	0.12	(0.12)	0.81
BXFCX	0.06	0.01	(0.50)	4.12	(0.19)	0.12	(0.12)	0.81
BXFAX	0.07	0.01	(0.50)	0.63	(0.21)	0.12	(0.11)	0.81
BXEYX	0.23	(0.02)	0.00	(0.14)	0.00	0.66	(0.53)	1.46
BXEIX	0.22	(0.03)	0.00	(0.22)	0.00	0.53	(0.39)	1.45
BXFYX	0.06	0.01	(0.49)	3.52	(0.19)	0.12	(0.11)	0.81

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