Victory High Correlations

RHYKX Fund

USD 5.54 0.01 0.18%

The current 90-days correlation between Victory High Yield and Delaware Healthcare Fund is 0.37 (i.e., Weak 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

Weak diversification

The correlation between Victory High Yield and DJI is 0.39 (i.e., Weak 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 Your Equity Center 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 industry.

Moving together with VICTORY Mutual Fund

0.77	GUHYX	Victory High Yield	Pair Corr
0.7	RSIRX	Victory Rs International	Pair Corr
0.66	RSHMX	Victory High Income	Pair Corr
0.64	MSSIX	Victory Trivalent	Pair Corr
0.66	MUCAX	Victory Incore Total	Pair Corr
0.67	VFFRX	Victory Incore	Pair Corr
0.64	MYSIX	Victory Trivalent	Pair Corr
0.66	MICIX	Victory Trivalent	Pair Corr
0.83	VWEAX	Vanguard High Yield	Pair Corr
0.83	VWEHX	Vanguard High Yield	Pair Corr
0.84	BHYCX	Blackrock Hi Yld	Pair Corr
0.85	BHYIX	Blackrock High Yield	Pair Corr
0.84	BHYSX	Blackrock Hi Yld	Pair Corr
0.84	BHYAX	Blackrock High Yield	Pair Corr
0.84	FAHHX	American Funds American	Pair Corr
0.84	FTAHX	American Funds American	Pair Corr
0.84	AHTFX	American High Income	Pair Corr

Moving against VICTORY Mutual Fund

0.51	RSCCX	Victory Rs Small	Pair Corr
0.33	MVSSX	Victory Integrity Small	Pair Corr
0.32	RINCX	Victory Rs Science	Pair Corr

Related Correlations Analysis

	DLRHX	HCPIX	LYFCX	HGHYX	VGHCX	SCHLX
DLRHX		0.94	0.95	0.75	0.24	0.93	DLRHX
HCPIX	0.94		0.95	0.71	0.17	0.97	HCPIX
LYFCX	0.95	0.95		0.86	0.37	0.98	LYFCX
HGHYX	0.75	0.71	0.86		0.39	0.85	HGHYX
VGHCX	0.24	0.17	0.37	0.39		0.29	VGHCX
SCHLX	0.93	0.97	0.98	0.85	0.29		SCHLX
	DLRHX	HCPIX	LYFCX	HGHYX	VGHCX	SCHLX

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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
DLRHX	0.63	0.06	0.12	0.06	0.75	(0.76)	1.30	(1.24)	3.41
HCPIX	0.99	0.12	0.13	0.11	0.99	(1.10)	1.88	(1.69)	4.95
LYFCX	0.59	0.04	0.10	0.02	0.71	(0.61)	1.17	(1.20)	3.17
HGHYX	0.69	0.02	0.00	(0.03)	0.00	0.00	1.41	(1.25)	4.37
VGHCX	0.77	(0.10)	0.00	(0.26)	0.00	0.00	1.49	(1.50)	8.17
SCHLX	0.64	0.06	0.12	0.05	0.70	(0.72)	1.25	(1.17)	3.70

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