Catalyst/smh High Correlations

HIICX Fund

USD 3.72 0.02 0.53%

The current 90-days correlation between Catalystsmh High Income and Prudential High Yield is 0.53 (i.e., Very weak diversification). The correlation of Catalyst/smh 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.

Catalyst/smh High Correlation With Market

Modest diversification

The correlation between Catalystsmh High Income 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 Catalystsmh High Income 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 Catalystsmh High Income. 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 main economic indicators.

Moving together with Catalyst/smh Mutual Fund

0.98	HIIFX	Catalystsmh High Income	Pair Corr
0.97	HIIIX	Catalystsmh High Income	Pair Corr
0.87	SHIIX	Catalyst/exceed Defined	Pair Corr
0.87	SHIEX	Catalyst/exceed Defined	Pair Corr
0.87	SHINX	Catalyst/exceed Defined	Pair Corr
0.73	CLTIX	Catalyst/lyons Tactical	Pair Corr
0.71	CLTCX	Catalyst/lyons Tactical	Pair Corr
0.73	CLTAX	Catalyst/lyons Tactical	Pair Corr
0.76	DCXIX	Catalystmillburn Dyn	Pair Corr
0.75	DCXCX	Catalystmillburn Dyn	Pair Corr

Moving against Catalyst/smh Mutual Fund

0.47	CWXCX	Catalyst/warrington	Pair Corr
0.33	CWXAX	Catalyst/warrington	Pair Corr

Related Correlations Analysis

	PBHAX	AHYMX	BXHCX	TAHFX	PHDTX
PBHAX		0.68	0.93	0.96	0.95	PBHAX
AHYMX	0.68		0.78	0.75	0.72	AHYMX
BXHCX	0.93	0.78		0.95	0.93	BXHCX
TAHFX	0.96	0.75	0.95		0.92	TAHFX
PHDTX	0.95	0.72	0.93	0.92		PHDTX
	PBHAX	AHYMX	BXHCX	TAHFX	PHDTX

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Risk-Adjusted Indicators

There is a big difference between Catalyst/smh Mutual Fund performing well and Catalyst/smh 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 Catalyst/smh 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
PBHAX	0.15	0.03	0.12	1.06	0.00	(0.32)	0.63	(0.21)	1.06
AHYMX	0.12	0.01	0.07	(0.44)	0.03	(0.17)	0.22	(0.22)	0.98
BXHCX	0.12	0.02	0.11	(0.83)	0.00	(0.20)	0.49	(0.25)	1.12
TAHFX	0.15	0.02	0.11	0.38	0.00	(0.23)	0.61	(0.24)	1.35
PHDTX	0.11	0.03	0.15	0.54	0.00	(0.15)	0.23	(0.23)	0.79

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