High Income Correlations

NPHIX Fund

USD 8.64 0.01 0.12%

The current 90-days correlation between High Income Fund and Eip Growth And is 0.15 (i.e., Average diversification). The correlation of High Income 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 Income Correlation With Market

Significant diversification

The correlation between High Income Fund and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding High Income Fund 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 Income Fund. 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 High Mutual Fund

0.97	VWEAX	Vanguard High Yield	Pair Corr
0.98	VWEHX	Vanguard High Yield	Pair Corr
0.97	BHYCX	Blackrock Hi Yld	Pair Corr
0.99	BHYIX	Blackrock High Yield	Pair Corr
0.99	BHYSX	Blackrock Hi Yld	Pair Corr
0.98	BHYAX	Blackrock High Yield	Pair Corr
0.99	FAHHX	American Funds American	Pair Corr
0.99	FTAHX	American Funds American	Pair Corr
0.99	AHTFX	American High Income	Pair Corr
0.99	AHTCX	American High Income	Pair Corr
0.79	VTISX	Vanguard Total Inter	Pair Corr
0.79	VTSNX	Vanguard Total Inter	Pair Corr
0.71	VTPSX	Vanguard Total Inter	Pair Corr
0.76	IBM	International Business	Pair Corr
0.73	T	ATT Inc Earnings Call This Week	Pair Corr
0.63	VZ	Verizon Communications	Pair Corr
0.68	MMM	3M Company	Pair Corr
0.86	GE	GE Aerospace	Pair Corr
0.66	KO	Coca Cola	Pair Corr

Moving against High Mutual Fund

0.61	MRK	Merck Company	Pair Corr
0.54	AA	Alcoa Corp	Pair Corr
0.47	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	EIPIX	UPDDX	FGTZX	TAAEX	LMLRX	BGGKX	PIGDX
EIPIX		0.37	0.54	0.27	0.67	0.26	0.62	EIPIX
UPDDX	0.37		0.88	0.88	0.69	0.89	0.08	UPDDX
FGTZX	0.54	0.88		0.86	0.93	0.87	0.42	FGTZX
TAAEX	0.27	0.88	0.86		0.67	0.99	0.05	TAAEX
LMLRX	0.67	0.69	0.93	0.67		0.69	0.66	LMLRX
BGGKX	0.26	0.89	0.87	0.99	0.69		0.08	BGGKX
PIGDX	0.62	0.08	0.42	0.05	0.66	0.08		PIGDX
	EIPIX	UPDDX	FGTZX	TAAEX	LMLRX	BGGKX	PIGDX

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Risk-Adjusted Indicators

There is a big difference between High Mutual Fund performing well and High Income 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 Income'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
EIPIX	0.84	0.01	0.00	(0.04)	0.00	0.00	1.68	(1.72)	7.26
UPDDX	2.00	(0.01)	0.00	(0.07)	0.00	0.00	3.22	(5.01)	15.30
FGTZX	0.61	(0.01)	0.00	(0.08)	0.00	0.00	1.01	(1.25)	3.38
TAAEX	1.68	(0.10)	0.00	(0.14)	0.00	0.00	3.09	(3.20)	9.89
LMLRX	0.33	0.01	0.00	(0.05)	0.00	0.00	0.61	(0.69)	2.17
BGGKX	1.54	(0.08)	0.00	(0.13)	0.00	0.00	2.77	(4.38)	8.15
PIGDX	0.82	0.09	0.09	0.07	1.12	(0.85)	1.84	(1.68)	7.09

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