Hodges Blue Correlations

Mutual Funds . USA . 
Fund . Hodges Blue Chip
HDPBX Fund  USD 26.15  0.03  0.11%   
The current 90-days correlation between Hodges Blue Chip and Hodges Small Cap is 0.83 (i.e., Very poor diversification). The correlation of Hodges Blue 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.

Hodges Blue Correlation With Market

Very poor diversification

The correlation between Hodges Blue Chip and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hodges Blue Chip and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Hodges Blue Chip. 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 bureau of labor statistics.

Moving together with Hodges Mutual Fund

  0.94HSVIX Hodges Small IntrinsicPairCorr
  0.95HDPSX Hodges Small CapPairCorr
  0.98HDPMX Hodges Fund RetailPairCorr
  0.95HDSIX Hodges Small CapPairCorr
  0.93HDSVX Hodges Small IntrinsicPairCorr
  1.0VTSAX Vanguard Total StockPairCorr
  1.0VFIAX Vanguard 500 IndexPairCorr
  1.0VTSMX Vanguard Total StockPairCorr
  1.0VITSX Vanguard Total StockPairCorr
  1.0VSMPX Vanguard Total StockPairCorr
  1.0VSTSX Vanguard Total StockPairCorr
  1.0VFINX Vanguard 500 IndexPairCorr
  1.0VFFSX Vanguard 500 IndexPairCorr
  1.0VINIX Vanguard InstitutionalPairCorr
  1.0VIIIX Vanguard InstitutionalPairCorr
  0.96PFN Pimco Income StrategyPairCorr
  0.96CIF Mfs Intermediate HighPairCorr
  0.67NXJ Nuveen New JerseyPairCorr
  0.95PCF Putnam High IncomePairCorr
  1.0TRFHX T Rowe PricePairCorr
  0.92DCARX Dfa California MunicipalPairCorr
  0.99TSMUX Tiaa-cref Small/mid-capPairCorr
  1.0BAGPX Blackrock Gwth PtfPairCorr
  0.98SFPCX Financial ServicesPairCorr
  1.0JLGRX Jpmorgan Large CapPairCorr
  0.99SSETX Dreyfusthe Boston PanyPairCorr
  0.98DODWX Dodge Global StockPairCorr
  0.98FIANX Fa Strategic IncomePairCorr
  0.99FMAGX Fidelity MagellanPairCorr
  0.99VIGRX Vanguard Growth IndexPairCorr
  0.85XTYGX Tortoise Energy InfrPairCorr
  0.7WAPAX Western Asset EPairCorr
  0.95QIORX Aqr InternationalPairCorr
  0.92AAIIX Ancora IncomePairCorr
  0.99JSLCX Multimanager LifestylePairCorr

Moving against Hodges Mutual Fund

  0.46XDSMX Dreyfus StrategicPairCorr
  0.54XNBHX Neuberger Berman IntPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Hodges Mutual Fund performing well and Hodges Blue 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 Hodges Blue'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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