Homestead Intermediate Correlations

HOIBX Fund

USD 4.54 0.01 0.22%

The current 90-days correlation between Homestead Intermediate and International Equity Fund is -0.02 (i.e., Good diversification). The correlation of Homestead Intermediate 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.

Homestead Intermediate Correlation With Market

Good diversification

The correlation between Homestead Intermediate Bond and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Homestead Intermediate Bond 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 Homestead Intermediate Bond. 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 Homestead Mutual Fund

0.68	HOSBX	Short Term Bond	Pair Corr
0.9	HOSGX	Short Term Government	Pair Corr
0.98	VBTLX	Vanguard Total Bond	Pair Corr
0.91	VBMFX	Vanguard Total Bond	Pair Corr
0.91	VBTIX	Vanguard Total Bond	Pair Corr
0.91	VTBSX	Vanguard Total Bond	Pair Corr
0.91	VTBIX	Vanguard Total Bond	Pair Corr
0.91	VTBNX	Vanguard Total Bond	Pair Corr
0.92	FBOFX	American Funds	Pair Corr
0.92	FFBOX	American Funds	Pair Corr
0.92	BFAFX	Bond Fund	Pair Corr
0.92	ABNDX	Bond Fund	Pair Corr
0.63	AIAFX	Alpine Global Infras	Pair Corr
0.62	FTCWX	Fidelity Asset Manager	Pair Corr
0.69	SRJAX	Jpmorgan Smartretirement	Pair Corr
0.72	MQRIX	Acr Multi Strategy	Pair Corr
0.62	TIOBX	Transamerica Funds	Pair Corr
0.66	VFINX	Vanguard 500 Index	Pair Corr
0.66	FZROX	Fidelity Zero Total	Pair Corr
0.64	VEXRX	Vanguard Explorer	Pair Corr
0.64	DNREX	Dunham Real Estate	Pair Corr

Related Correlations Analysis

	HISIX	HNASX	HOIBX	HOSBX	HOSGX	HOVLX	HSCSX	HSTIX
HISIX		0.5	0.53	0.27	0.5	0.43	0.5	0.43	HISIX
HNASX	0.5		0.45	0.75	0.48	0.95	0.95	0.98	HNASX
HOIBX	0.53	0.45		0.68	0.9	0.56	0.44	0.5	HOIBX
HOSBX	0.27	0.75	0.68		0.74	0.84	0.67	0.82	HOSBX
HOSGX	0.5	0.48	0.9	0.74		0.57	0.41	0.52	HOSGX
HOVLX	0.43	0.95	0.56	0.84	0.57		0.95	0.99	HOVLX
HSCSX	0.5	0.95	0.44	0.67	0.41	0.95		0.95	HSCSX
HSTIX	0.43	0.98	0.5	0.82	0.52	0.99	0.95		HSTIX
	HISIX	HNASX	HOIBX	HOSBX	HOSGX	HOVLX	HSCSX	HSTIX

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Risk-Adjusted Indicators

There is a big difference between Homestead Mutual Fund performing well and Homestead Intermediate 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 Homestead Intermediate'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
HISIX	0.59	0.06	(0.02)	0.29	0.51	(0.68)	1.39	(1.10)	3.86
HNASX	0.78	0.37	0.30	(7.66)	0.19	(1.00)	2.66	(0.90)	5.65
HOIBX	0.26	0.02	(0.28)	(0.70)	0.23	(0.32)	0.67	(0.44)	1.34
HOSBX	0.14	0.01	(0.42)	0.81	0.00	(0.24)	0.20	(0.20)	1.02
HOSGX	0.13	0.01	(0.52)	(1.13)	0.06	(0.23)	0.20	(0.20)	0.80
HOVLX	0.56	0.24	0.13	(2.28)	0.27	(0.66)	1.57	(0.87)	4.44
HSCSX	1.00	0.27	0.10	(2.21)	0.85	(1.14)	2.72	(1.68)	6.61
HSTIX	0.60	0.33	0.28	(3.64)	0.00	(0.79)	2.03	(0.79)	4.90

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Homestead Intermediate Correlations

Homestead Intermediate Correlation With Market

Good diversification

Moving together with Homestead Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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