1290 High Correlations

Mutual Funds . USA . 
Fund . 1290 High Yield
TNHIX Fund  USD 8.50  0.01  0.12%   
The current 90-days correlation between 1290 High Yield and Pax High Yield is 0.69 (i.e., Poor 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 0.44 (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 gross domestic product.

Moving together with 1290 Mutual Fund

  0.62TNBIX 1290 Smartbeta EquityPairCorr
  0.61TNBRX 1290 Smartbeta EquityPairCorr
  0.62TNBAX 1290 Smartbeta EquityPairCorr
  0.93TNIIX 1290 Retirement 2020PairCorr
  1.0TNHAX 1290 High YieldPairCorr
  0.99TNHRX 1290 High YieldPairCorr
  0.92TNKIX 1290 Retirement 2030PairCorr
  0.93TNJIX 1290 Retirement 2025PairCorr
  0.69TNMAX 1290 Multi AlternativePairCorr
  0.69TNMRX 1290 Multi AlternativePairCorr
  0.91TNLIX 1290 Retirement 2035PairCorr
  0.88TNOIX 1290 Retirement 2045PairCorr
  0.81TNNIX 1290 Retirement 2040PairCorr
  0.85TNQIX 1290 Retirement 2055PairCorr
  0.82TNURX 1290 Unconstrained BondPairCorr
  0.89TNVDX 1290 Doubleline DynamicPairCorr
  0.81TNUAX 1290 Unconstrained BondPairCorr
  0.82TNUIX 1290 Unconstrained BondPairCorr
  0.87TNXAX 1290 Doubleline DynamicPairCorr
  0.86TNWIX 1290 Retirement 2050PairCorr
  0.87TNYRX 1290 Doubleline DynamicPairCorr
  0.89VWEAX Vanguard High YieldPairCorr
  0.95VWEHX Vanguard High YieldPairCorr
  0.96BHYCX Blackrock Hi YldPairCorr
  0.97BHYIX Blackrock High YieldPairCorr
  0.97BHYSX Blackrock Hi YldPairCorr
  0.96BHYAX Blackrock High YieldPairCorr
  0.97FAHHX American Funds AmericanPairCorr
  0.87FTAHX American Funds AmericanPairCorr
  0.86AHTFX American High IncomePairCorr
  0.97AHTCX American High IncomePairCorr

Moving against 1290 Mutual Fund

  0.36ESCKX 1290 FundsPairCorr
  0.36ESCJX 1290 Essex SmallPairCorr
  0.36ESCFX 1290 FundsPairCorr
  0.58SMPSX Semiconductor UltrasectorPairCorr
  0.45SMPIX Semiconductor UltrasectorPairCorr
  0.45RGNCX Victory Global NaturalPairCorr
  0.44RSNRX Victory Global NaturalPairCorr
  0.43RSNYX Victory Global NaturalPairCorr

Related Correlations Analysis

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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.

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