1290 High Correlations

TNHAX Fund

USD 8.49 0.01 0.12%

The current 90-days correlation between 1290 High Yield and Clearbridge Energy Mlp is 0.25 (i.e., Modest diversification). The correlation of 1290 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.

1290 High Correlation With Market

Very weak diversification

The correlation between 1290 High Yield and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 1290 High Yield and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in 1290 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 nation.

Moving together with 1290 Mutual Fund

0.64	TNBIX	1290 Smartbeta Equity	Pair Corr
0.63	TNBRX	1290 Smartbeta Equity	Pair Corr
0.64	TNBAX	1290 Smartbeta Equity	Pair Corr
0.93	TNIIX	1290 Retirement 2020	Pair Corr
1.0	TNHIX	1290 High Yield	Pair Corr
0.99	TNHRX	1290 High Yield	Pair Corr
0.92	TNKIX	1290 Retirement 2030	Pair Corr
0.92	TNJIX	1290 Retirement 2025	Pair Corr
0.69	TNMAX	1290 Multi Alternative	Pair Corr
0.69	TNMRX	1290 Multi Alternative	Pair Corr
0.91	TNLIX	1290 Retirement 2035	Pair Corr
0.88	TNOIX	1290 Retirement 2045	Pair Corr
0.81	TNNIX	1290 Retirement 2040	Pair Corr
0.86	TNQIX	1290 Retirement 2055	Pair Corr
0.8	TNURX	1290 Unconstrained Bond	Pair Corr
0.9	TNVDX	1290 Doubleline Dynamic	Pair Corr
0.79	TNUAX	1290 Unconstrained Bond	Pair Corr
0.79	TNUIX	1290 Unconstrained Bond	Pair Corr
0.88	TNXAX	1290 Doubleline Dynamic	Pair Corr
0.87	TNWIX	1290 Retirement 2050	Pair Corr
0.88	TNYRX	1290 Doubleline Dynamic	Pair Corr
0.87	VWEAX	Vanguard High Yield	Pair Corr
0.93	VWEHX	Vanguard High Yield	Pair Corr
0.96	BHYCX	Blackrock Hi Yld	Pair Corr
0.96	BHYIX	Blackrock High Yield	Pair Corr
0.96	BHYSX	Blackrock Hi Yld	Pair Corr
0.96	BHYAX	Blackrock High Yield	Pair Corr
0.96	FAHHX	American Funds American	Pair Corr
0.86	FTAHX	American Funds American	Pair Corr
0.86	AHTFX	American High Income	Pair Corr

Moving against 1290 Mutual Fund

0.33	ESCKX	1290 Funds	Pair Corr
0.33	ESCFX	1290 Funds	Pair Corr
0.32	ESCJX	1290 Essex Small	Pair Corr
0.55	SMPSX	Semiconductor Ultrasector	Pair Corr
0.43	SMPIX	Semiconductor Ultrasector	Pair Corr
0.42	RSNRX	Victory Global Natural	Pair Corr
0.42	RGNCX	Victory Global Natural	Pair Corr
0.41	RSNYX	Victory Global Natural	Pair Corr

Related Correlations Analysis

	XEMOX	TMCLX	BACCX	SEPIX	PYILX	FIKAX
XEMOX		0.7	0.41	0.63	0.09	0.57	XEMOX
TMCLX	0.7		0.87	0.89	0.02	0.9	TMCLX
BACCX	0.41	0.87		0.91	0.05	0.91	BACCX
SEPIX	0.63	0.89	0.91		0.23	0.88	SEPIX
PYILX	0.09	0.02	0.05	0.23		-0.21	PYILX
FIKAX	0.57	0.9	0.91	0.88	-0.21		FIKAX
	XEMOX	TMCLX	BACCX	SEPIX	PYILX	FIKAX

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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

SEPIX	+ 0.91	BACCX
FIKAX	+ 0.91	BACCX
FIKAX	+ 0.9	TMCLX
SEPIX	+ 0.89	TMCLX
FIKAX	+ 0.88	SEPIX
BACCX	+ 0.87	TMCLX

High negative correlations

FIKAX

- 0.21

PYILX

Risk-Adjusted Indicators

There is a big difference between 1290 Mutual Fund performing well and 1290 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 1290 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
XEMOX	1.15	0.09	0.10	(0.99)	1.47	(1.22)	2.29	(2.24)	6.66
TMCLX	1.02	0.12	0.11	0.14	1.27	(1.11)	1.76	(1.86)	6.34
BACCX	0.81	0.17	0.16	0.27	1.16	(0.82)	1.49	(1.90)	5.48
SEPIX	0.71	0.13	0.17	0.17	0.80	(0.79)	1.44	(1.56)	4.34
PYILX	0.32	0.07	0.35	1.32	0.06	(0.46)	0.68	(0.46)	1.80
FIKAX	0.99	0.15	0.11	0.18	1.50	(0.97)	1.80	(2.54)	6.59

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