Victory High Correlations

GUHYX Fund

USD 5.47 0.01 0.18%

The current 90-days correlation between Victory High Yield and Invesco Energy Fund is 0.16 (i.e., Average 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

Average diversification

The correlation between Victory High Yield and DJI is 0.14 (i.e., Average 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

0.9	GUBGX	Victory Rs International	Pair Corr
0.88	GGIFX	Victory Incore	Pair Corr
0.9	RSIRX	Victory Rs International	Pair Corr
0.87	MAIRX	Victory Trivalent	Pair Corr
0.88	MSSIX	Victory Trivalent	Pair Corr
0.78	REMKX	Victory Sophus Emerging	Pair Corr

Moving against Victory Mutual Fund

0.38

RSEJX

Victory Rs Small

Pair Corr

Related Correlations Analysis

	IEFCX	TREIX	AIWEX	ENPSX	SNPIX	TMLAX	FIKAX
IEFCX		0.2	0.74	0.95	-0.97	0.87	0.98	IEFCX
TREIX	0.2		0.04	-0.06	0.0	0.41	0.09	TREIX
AIWEX	0.74	0.04		0.69	-0.7	0.76	0.8	AIWEX
ENPSX	0.95	-0.06	0.69		-1.0	0.76	0.95	ENPSX
SNPIX	-0.97	0.0	-0.7	-1.0		-0.78	-0.96	SNPIX
TMLAX	0.87	0.41	0.76	0.76	-0.78		0.88	TMLAX
FIKAX	0.98	0.09	0.8	0.95	-0.96	0.88		FIKAX
	IEFCX	TREIX	AIWEX	ENPSX	SNPIX	TMLAX	FIKAX

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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

FIKAX	+ 0.98	IEFCX
ENPSX	+ 0.95	IEFCX
FIKAX	+ 0.95	ENPSX
FIKAX	+ 0.88	TMLAX
TMLAX	+ 0.87	IEFCX
FIKAX	+ 0.8	AIWEX

High negative correlations

SNPIX	- 1.0	ENPSX
SNPIX	- 0.97	IEFCX
FIKAX	- 0.96	SNPIX
TMLAX	- 0.78	SNPIX
SNPIX	- 0.7	AIWEX
ENPSX	- 0.06	TREIX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
IEFCX	0.83	(0.06)	0.00	(0.15)	0.00	0.00	1.25	(2.18)	4.47
TREIX	0.06	0.02	0.30	0.98	0.00	(0.11)	0.10	(0.10)	0.30
AIWEX	1.08	(0.10)	0.00	(0.81)	0.00	0.00	1.90	(1.83)	9.76
ENPSX	1.39	(0.13)	0.00	(0.19)	0.00	0.00	2.37	(3.54)	7.38
SNPIX	0.93	0.09	0.12	(0.18)	0.87	(1.13)	2.35	(1.58)	4.99
TMLAX	0.95	(0.04)	0.00	(0.12)	0.00	0.00	1.54	(2.24)	6.23
FIKAX	0.94	(0.09)	0.00	(0.18)	0.00	0.00	1.40	(2.54)	5.27

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