Victory High Correlations

GUHYX Fund  USD 5.47  0.03  0.55%   
The current 90-days correlation between Victory High Yield and Siit Ultra Short is 0.49 (i.e., Very weak diversification). The correlation of Victory 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.

Victory High Correlation With Market

Weak diversification

The correlation between Victory High Yield and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Victory High Yield and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Victory 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 Victory Mutual Fund

  0.88RSIRX Victory Rs InternationalPairCorr
  0.87MSSIX Victory TrivalentPairCorr
  0.78REMKX Victory Sophus EmergingPairCorr
  0.81MUCAX Victory Incore TotalPairCorr
  0.8VFFRX Victory IncorePairCorr
  1.0RHYKX Victory High YieldPairCorr
  0.87MYSIX Victory TrivalentPairCorr
  0.87MICIX Victory TrivalentPairCorr
  0.97VWEAX Vanguard High YieldPairCorr
  0.97VWEHX Vanguard High YieldPairCorr
  0.91BHYCX Blackrock Hi YldPairCorr
  0.95BHYIX Blackrock High YieldPairCorr
  0.94BHYSX Blackrock Hi YldPairCorr
  0.93BHYAX Blackrock High YieldPairCorr
  0.97FAHHX American Funds AmericanPairCorr
  0.97FTAHX American Funds AmericanPairCorr
  0.96AHTFX American High IncomePairCorr

Moving against Victory Mutual Fund

  0.52RSCCX Victory Rs SmallPairCorr
  0.39MVSSX Victory Integrity SmallPairCorr
  0.36RSSRX Victory Rs SelectPairCorr
  0.34VSOIX Victory Sycamore SmallPairCorr
  0.34VSORX Victory Sycamore SmallPairCorr
  0.33RMORX Victory Rs MidPairCorr
  0.32RINCX Victory Rs SciencePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Victory Mutual Fund performing well and Victory 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 Victory 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.