Integrity High Correlations

IHFIX Fund

USD 7.52 0.01 0.13%

The current 90-days correlation between Integrity High Income and Alpine High Yield is 0.66 (i.e., Poor diversification). The correlation of Integrity 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.

Integrity High Correlation With Market

Weak diversification

The correlation between Integrity High Income 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 Integrity 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 Integrity 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 gross domestic product.

Moving together with Integrity Mutual Fund

0.72	VMTIX	Viking Tax Free	Pair Corr
0.74	VMTTX	Viking Tax Free	Pair Corr
0.63	APAYX	Integrity Dividend Summit	Pair Corr
0.67	IPAYX	Integrity Dividend Summit	Pair Corr
0.72	OKMUX	Oklahoma Municipal	Pair Corr
0.8	OKMIX	Oklahoma Municipal	Pair Corr
0.68	MDSAX	Integrity Short Term	Pair Corr
0.84	IHFAX	Integrity High Income	Pair Corr
0.85	IHFCX	Integrity High Income	Pair Corr
0.91	VWEAX	Vanguard High Yield	Pair Corr
0.9	VWEHX	Vanguard High Yield	Pair Corr
0.84	BHYCX	Blackrock Hi Yld	Pair Corr
0.87	BHYIX	Blackrock High Yield	Pair Corr
0.97	BHYSX	Blackrock Hi Yld	Pair Corr
0.85	BHYAX	Blackrock High Yield	Pair Corr
0.88	FAHHX	American Funds American	Pair Corr
0.88	FTAHX	American Funds American	Pair Corr
0.98	AHTFX	American High Income	Pair Corr
0.86	AHTCX	American High Income	Pair Corr
0.77	BRUFX	Bruce Fund Bruce	Pair Corr
0.7	KF	Korea Closed	Pair Corr

Moving against Integrity Mutual Fund

0.52

SPGSX

State Street Premier

Pair Corr

Related Correlations Analysis

	AHYMX	HYSZX	RHYAX	GHVIX	ACHFX
AHYMX		0.93	0.87	0.87	0.91	AHYMX
HYSZX	0.93		0.93	0.95	0.98	HYSZX
RHYAX	0.87	0.93		0.98	0.96	RHYAX
GHVIX	0.87	0.95	0.98		0.96	GHVIX
ACHFX	0.91	0.98	0.96	0.96		ACHFX
	AHYMX	HYSZX	RHYAX	GHVIX	ACHFX

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Risk-Adjusted Indicators

There is a big difference between Integrity Mutual Fund performing well and Integrity 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 Integrity 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
AHYMX	0.12	0.01	0.25	0.23	(0.18)	0.22	(0.22)	0.76
HYSZX	0.13	0.03	0.31	0.29	(0.22)	0.48	(0.24)	1.08
RHYAX	0.12	0.02	0.21	0.12	(0.19)	0.31	(0.21)	1.14
GHVIX	0.15	0.02	0.28	0.18	(0.17)	0.30	(0.29)	1.01
ACHFX	0.17	0.03	0.25	0.20	(0.22)	0.47	(0.23)	1.28

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