Hodges Small Correlations

Mutual Funds . USA . 
Fund . Hodges Small Intrinsic
HDSVX Fund  USD 17.86  0.05  0.28%   
The current 90-days correlation between Hodges Small Intrinsic and Hodges Small Cap is 0.94 (i.e., Almost no 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

Poor diversification

The correlation between Hodges Small Intrinsic and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hodges Small Intrinsic 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 Small Intrinsic. 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 real.

Moving together with Hodges Mutual Fund

  0.96HSVIX Hodges Small IntrinsicPairCorr
  0.99HDPSX Hodges Small CapPairCorr
  0.91HDPBX Hodges Blue ChipPairCorr
  0.97HDPMX Hodges Fund RetailPairCorr
  0.99HDSIX Hodges Small CapPairCorr
  0.98VSIIX Vanguard Small CapPairCorr
  0.98VISVX Vanguard Small CapPairCorr
  0.98DFSVX Us Small CapPairCorr
  0.98DFFVX Us Targeted ValuePairCorr
  0.99UBVCX Undiscovered ManagersPairCorr
  0.95UBVAX Undiscovered ManagersPairCorr
  0.95UBVSX Undiscovered ManagersPairCorr
  0.98AVFIX American Beacon SmallPairCorr
  0.91SMPIX Semiconductor Ultrasector Steady GrowthPairCorr
  0.89SMPSX Semiconductor Ultrasector Steady GrowthPairCorr
  0.93TTEEX T Rowe PricePairCorr
  0.93TREMX T Rowe PricePairCorr
  0.9FIKGX Fidelity Advisor SemPairCorr
  0.92ONERX One Rock Fund Steady GrowthPairCorr
  0.92FELCX Fidelity Advisor SemPairCorr
  0.92FELIX Fidelity Advisor SemPairCorr
  0.92FSELX Fidelity Select SemiPairCorr
  0.9FELAX Fidelity Advisor SemPairCorr
  0.94VFIAX Vanguard 500 IndexPairCorr
  0.9IASMX Guinness Atkinson Asia Steady GrowthPairCorr
  0.88TNXAX 1290 Doubleline DynamicPairCorr
  0.76NWHZX Nationwide Geneva SmallPairCorr
  0.78FMFIX Free Market FixedPairCorr
  0.93JFQUX Jpmorgan InvestorPairCorr
  0.87MSEGX Growth Portfolio Class Steady GrowthPairCorr
  0.9FSTBX Federated Global AllPairCorr
  0.92DILCX Davis InternationalPairCorr
  0.62PFRSX Real Estate SecuritiesPairCorr
  0.93VITAX Vanguard InformationPairCorr
  0.89ICTEX Icon Information TecPairCorr
  0.72TGRKX Tiaa Cref GreenPairCorr
  0.88PYEMX Payden Emerging MarketsPairCorr

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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