Guggenheim High Correlations

SIHAX Fund

USD 9.95 0.01 0.10%

The current 90-days correlation between Guggenheim High Yield and Dreyfusnewton International Equity is 0.02 (i.e., Significant diversification). The correlation of Guggenheim 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.

Guggenheim High Correlation With Market

Significant diversification

The correlation between Guggenheim High Yield and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guggenheim 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 Guggenheim 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 Guggenheim Mutual Fund

0.62	SUFCX	Guggenheim Styleplus	Pair Corr
0.61	SEVAX	Guggenheim Mid Cap	Pair Corr
0.61	SEVPX	Guggenheim Mid Cap	Pair Corr

Related Correlations Analysis

	NIEYX	DFVEX	FLDFX	SILLX	GMADX	AUUIX
NIEYX		-0.01	0.79	0.19	0.55	0.56	NIEYX
DFVEX	-0.01		0.25	0.93	-0.16	0.59	DFVEX
FLDFX	0.79	0.25		0.31	0.39	0.85	FLDFX
SILLX	0.19	0.93	0.31		0.06	0.57	SILLX
GMADX	0.55	-0.16	0.39	0.06		0.14	GMADX
AUUIX	0.56	0.59	0.85	0.57	0.14		AUUIX
	NIEYX	DFVEX	FLDFX	SILLX	GMADX	AUUIX

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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

SILLX	+ 0.93	DFVEX
AUUIX	+ 0.85	FLDFX
FLDFX	+ 0.79	NIEYX
AUUIX	+ 0.59	DFVEX
AUUIX	+ 0.57	SILLX
AUUIX	+ 0.56	NIEYX

High negative correlations

GMADX	- 0.16	DFVEX
DFVEX	- 0.01	NIEYX

Risk-Adjusted Indicators

There is a big difference between Guggenheim Mutual Fund performing well and Guggenheim 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 Guggenheim 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
NIEYX	1.28	(0.63)	0.00	(1.06)	0.00	0.00	1.09	(1.87)	35.88
DFVEX	0.59	0.00	0.00	0.03	0.74	(0.67)	1.16	(0.90)	7.30
FLDFX	0.60	(0.19)	0.00	(0.22)	0.00	0.00	0.71	(0.98)	12.74
SILLX	0.59	(0.01)	(0.02)	0.02	1.01	(0.55)	0.97	(1.31)	4.84
GMADX	0.48	(0.06)	0.00	(0.58)	0.00	0.00	0.80	(0.98)	4.03
AUUIX	0.59	(0.08)	0.00	(0.07)	0.00	0.00	1.01	(1.18)	10.08

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