Hodges Small Correlations

Mutual Funds USA . 
Fund . Hodges Small Cap
HDSIX Fund  USD 22.45  0.05  0.22%   
The current 90-days correlation between Hodges Small Cap and Fidelity Series Emerging is -0.04 (i.e., Good diversification). The correlation of Hodges Small 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 Small Correlation With Market

Good diversification

The correlation between Hodges Small Cap and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hodges Small Cap 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. 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 Hodges Mutual Fund

  0.67HSVIX Hodges Small IntrinsicPairCorr
  0.68HDPSX Hodges Small CapPairCorr
  0.64HDPBX Hodges Blue ChipPairCorr
  0.64HDPMX Hodges Fund RetailPairCorr
  0.68HDSVX Hodges Small IntrinsicPairCorr
  0.64VSMAX Vanguard Small CapPairCorr
  0.64VSCIX Vanguard Small CapPairCorr
  0.64VSCPX Vanguard Small CapPairCorr
  0.64NAESX Vanguard Small CapPairCorr
  0.66FSSNX Fidelity Small CapPairCorr
  0.65DFSTX Us Small CapPairCorr
  0.63PASVX T Rowe PricePairCorr
  0.64PRVIX T Rowe PricePairCorr
  0.64TRZVX T Rowe PricePairCorr
  0.63PRSVX T Rowe PricePairCorr
  0.64RYZAX Sp 500 PurePairCorr
  0.64LTAFX Altst Strgs FdPairCorr
  0.64TRVPX Tiaa Cref MidPairCorr
  0.66SHDAX Legg Mason WesternPairCorr
  0.62FSILX Federated Short TermPairCorr
  0.66VFIAX Vanguard 500 IndexPairCorr
  0.66MBBRX Massmutual PremierPairCorr
  0.66PSIAX Prudential Qma StockPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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