High Yield Correlations

Mutual Funds . USA . 
Fund . High Yield Strategy
RYHGX Fund  USD 120.50  0.26  0.22%   
The current 90-days correlation between High Yield Strategy and Inverse High Yield is -0.01 (i.e., Good 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

Significant diversification

The correlation between High Yield Strategy and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding High Yield Strategy 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 High Yield Strategy. 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 price.

Moving together with High Mutual Fund

  0.81VWEAX Vanguard High YieldPairCorr
  0.79VWEHX Vanguard High YieldPairCorr
  0.81BHYCX Blackrock Hi YldPairCorr
  0.8BHYIX Blackrock High YieldPairCorr
  0.79BHYSX Blackrock Hi YldPairCorr
  0.79BHYAX Blackrock High YieldPairCorr
  0.79FAHHX American Funds AmericanPairCorr
  0.78FTAHX American Funds AmericanPairCorr
  0.77AHTFX American High IncomePairCorr
  0.79AHTCX American High IncomePairCorr
  0.74VTISX Vanguard Total InterPairCorr
  0.74VTSNX Vanguard Total InterPairCorr
  0.73VTPSX Vanguard Total InterPairCorr
  0.74IBM International BusinessPairCorr
  0.62MCD McDonaldsPairCorr
  0.77T ATT Inc Earnings Call TomorrowPairCorr
  0.68VZ Verizon CommunicationsPairCorr
  0.65MMM 3M CompanyPairCorr
  0.68GE GE AerospacePairCorr
  0.7KO Coca ColaPairCorr

Moving against High Mutual Fund

  0.6MRK Merck CompanyPairCorr
  0.49AA Alcoa CorpPairCorr
  0.42MSFT MicrosoftPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
RYHRX
+ 0.74
FYAIX
RYHRX
+ 0.65
RYGBX
RYGBX
+ 0.63
FYAIX
RYAWX
+ 0.19
FYAIX
RYAWX
+ 0.14
RYHRX
  
High negative correlations   
FYAIX
- 0.83
RYIHX
RYHRX
- 0.75
RYIHX
RYGBX
- 0.63
RYIHX
RYAWX
- 0.44
RYGBX
RYAWX
- 0.11
RYIHX

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.

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