Value Fund Correlations

Mutual Funds . USA . 
Fund . Value Fund Value
HOVLX Fund  USD 53.09  0.13  0.24%   
The current 90-days correlation between Value Fund Value and Ubs Money Series is -0.15 (i.e., Good diversification). The correlation of Value Fund 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.

Value Fund Correlation With Market

Almost no diversification

The correlation between Value Fund Value and DJI is 0.94 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Value Fund Value 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 Value Fund Value. 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 economic analysis.

Moving together with Value Mutual Fund

  0.84HISIX International EquityPairCorr
  0.96HNASX Growth Fund GrowthPairCorr
  0.71HOIBX Homestead IntermediatePairCorr
  0.87HOSBX Short Term BondPairCorr
  0.67HOSGX Short Term GovernmentPairCorr
  0.95HSCSX Small-company StockPairCorr
  0.99HSTIX Stock Index FundPairCorr
  1.0VVIAX Vanguard Value IndexPairCorr
  0.99AFMFX American MutualPairCorr
  0.99FFMMX American Funds AmericanPairCorr
  0.99FFFMX American Funds AmericanPairCorr
  0.97AMRMX American MutualPairCorr
  0.68AMFFX American MutualPairCorr
  0.68AMFCX American MutualPairCorr
  0.97DODGX Dodge Stock FundPairCorr
  1.0VIVAX Vanguard Value IndexPairCorr
  0.99FTYPX Fidelity Freedom IndexPairCorr
  0.99FFBTX Fidelity Freedom BlendPairCorr
  0.79GAAVX Gmo Alternative AlloPairCorr
  0.96GCAVX Gmo Small CapPairCorr
  0.99GQLOX Gmo Quality FundPairCorr
  0.69GHVIX Gmo High YieldPairCorr
  0.93HICGX Hennessy Nerstone GrowthPairCorr
  0.99MAGEX Mfs Growth AllocationPairCorr
  0.66JGLTX Global TechnologyPairCorr
  0.97PEMGX Midcap Fund ClassPairCorr
  0.99GCSAX Goldman Sachs SmallPairCorr
  0.99BALFX American BalancedPairCorr
  0.65AIWEX World EnergyPairCorr
  0.61BTFRX Bts Tactical FixedPairCorr
  0.98FIJKX Fidelity Advisor FreedomPairCorr
  0.61PSPFX Global ResourcesPairCorr
  0.98JSCOX Perkins Small CapPairCorr
  0.97TPLNX Timothy Small CapPairCorr
  0.93RSVIX Rbc Small CapPairCorr
  0.67SEPIX Energy Basic MaterialsPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

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