1290 High Correlations

TNHCX Fund

USD 8.59 0.00 0.00%

The current 90-days correlation between 1290 High Yield and Intal High Relative is -0.15 (i.e., Good 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

Good diversification

The correlation between 1290 High Yield and DJI is -0.01 (i.e., Good 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 main economic indicators.

Moving together with 1290 Mutual Fund

0.69	TNHRX	1290 High Yield	Pair Corr
0.79	TNVCX	1290 Gamco Smallmid	Pair Corr

Related Correlations Analysis

	DIHRX	LBETX	NEAIX	PARCX	PHDTX	XNMZX	AWF	SGYAX
DIHRX		-0.59	-0.16	-0.13	-0.4	0.66	0.77	-0.47	DIHRX
LBETX	-0.59		0.81	0.86	0.9	-0.41	-0.17	0.89	LBETX
NEAIX	-0.16	0.81		0.91	0.86	0.02	0.25	0.77	NEAIX
PARCX	-0.13	0.86	0.91		0.88	-0.05	0.31	0.8	PARCX
PHDTX	-0.4	0.9	0.86	0.88		-0.22	0.03	0.94	PHDTX
XNMZX	0.66	-0.41	0.02	-0.05	-0.22		0.62	-0.26	XNMZX
AWF	0.77	-0.17	0.25	0.31	0.03	0.62		-0.07	AWF
SGYAX	-0.47	0.89	0.77	0.8	0.94	-0.26	-0.07		SGYAX
	DIHRX	LBETX	NEAIX	PARCX	PHDTX	XNMZX	AWF	SGYAX

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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

SGYAX	+ 0.94	PHDTX
PARCX	+ 0.91	NEAIX
PHDTX	+ 0.9	LBETX
SGYAX	+ 0.89	LBETX
PHDTX	+ 0.88	PARCX
PARCX	+ 0.86	LBETX

High negative correlations

LBETX	- 0.59	DIHRX
SGYAX	- 0.47	DIHRX
XNMZX	- 0.41	LBETX
PHDTX	- 0.4	DIHRX
SGYAX	- 0.26	XNMZX
XNMZX	- 0.22	PHDTX

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
DIHRX	0.62	(0.07)	0.00	(0.10)	0.00	0.00	1.33	(1.15)	4.35
LBETX	0.19	0.01	(0.20)	0.15	0.03	(0.24)	0.44	(0.35)	1.42
NEAIX	1.03	0.15	0.08	0.57	0.88	(1.18)	2.19	(1.59)	6.71
PARCX	0.32	0.00	(0.14)	0.09	0.29	(0.36)	0.64	(0.60)	2.10
PHDTX	0.09	0.03	(0.45)	0.54	0.00	(0.14)	0.22	(0.11)	0.56
XNMZX	0.28	(0.05)	0.00	(0.62)	0.00	0.00	0.53	(0.62)	2.68
AWF	0.32	(0.03)	(0.27)	(0.04)	0.37	(0.37)	0.56	(0.72)	1.83
SGYAX	0.13	0.02	(0.42)	0.47	0.00	(0.24)	0.29	(0.14)	0.99

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