High Yield Correlations

Mutual Funds . USA . 
Fund . High Yield Bond
MNHAX Fund  USD 9.81  0.01  0.10%   
The current 90-days correlation between High Yield Bond and The Hartford Inflation is 0.12 (i.e., Average diversification). The correlation of High Yield 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.

High Yield Correlation With Market

Very weak diversification

The correlation between High Yield Bond and DJI is 0.48 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding High Yield Bond and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in High Yield Bond. 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 nation.

Moving together with High Mutual Fund

  0.76MNBAX Pro-blend(r) ExtendedPairCorr
  0.82MNBIX Pro-blend(r) ExtendedPairCorr
  0.72MNCPX Unconstrained Bond SeriesPairCorr
  0.86MNCRX Pro-blend(r) ConservativePairCorr
  0.86MNCWX Manning Napier ProPairCorr
  0.64MNDFX Disciplined Value SeriesPairCorr
  0.71MNBRX Pro-blend(r) ExtendedPairCorr
  0.74MNBWX Manning Napier ProPairCorr
  0.94MNCCX Pro-blend(r) ConservativePairCorr
  0.94MNCIX Pro-blend(r) ConservativePairCorr
  0.89MNDWX Manning Napier DiverPairCorr
  0.74MNECX Pro-blend(r) ExtendedPairCorr
  1.0MNHYX High Yield BondPairCorr
  0.77MNMCX Pro-blend(r) ModeratePairCorr
  0.89MNMIX Pro-blend(r) ModeratePairCorr
  0.79MNMRX Pro-blend(r) ModeratePairCorr
  0.9MNMWX Manning Napier ProPairCorr
  0.82MNOSX Manning Napier OverseasPairCorr
  0.87MNOWX Manning Napier OverseasPairCorr
  0.87MNOZX Manning Napier OverseasPairCorr
  0.71RAIIX Rainier InternationalPairCorr
  0.71RAIRX Rainier InternationalPairCorr
  0.72RAIWX Manning Napier RainierPairCorr
  0.74MCDIX Manning Napier CreditPairCorr
  0.71MCBWX Manning Napier CorePairCorr
  0.7MCBZX Manning Napier CorePairCorr
  0.65MCDSX Manning Napier CreditPairCorr
  0.71MCDWX Manning Napier CreditPairCorr
  0.76MUBWX Manning Napier UnconPairCorr
  0.63MDFSX Disciplined Value SeriesPairCorr
  0.77MDVWX Manning Napier DisciPairCorr
  0.77MDVZX Manning Napier DisciPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between High Mutual Fund performing well and High Yield 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 High Yield'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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY