Hood River Correlations

Mutual Funds . USA . 
Fund . Hood River Small Cap
HRSIX Fund  USD 75.54  1.15  1.55%   
The current 90-days correlation between Hood River Small and World Energy Fund is -0.04 (i.e., Good diversification). The correlation of Hood River 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.

Hood River Correlation With Market

Very poor diversification

The correlation between Hood River Small Cap and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hood River 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, which includes a position in Hood River Small Cap. 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 Hood Mutual Fund

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  0.97HRITX Manager Directed PorPairCorr
  0.98VSGAX Vanguard Small CapPairCorr
  0.98VSGIX Vanguard Small CapPairCorr
  0.98VISGX Vanguard Small CapPairCorr
  0.98VEXPX Vanguard ExplorerPairCorr
  0.98VEXRX Vanguard ExplorerPairCorr
  0.98JGMIX Janus TritonPairCorr
  0.98JGMRX Janus TritonPairCorr
  0.96JGMAX Janus TritonPairCorr
  0.96JGMCX Janus TritonPairCorr
  0.96JGMNX Janus TritonPairCorr
  0.97VTSAX Vanguard Total StockPairCorr
  0.98VFIAX Vanguard 500 IndexPairCorr
  0.97VTSMX Vanguard Total StockPairCorr
  0.97VSMPX Vanguard Total StockPairCorr
  0.97VSTSX Vanguard Total StockPairCorr
  0.98VITSX Vanguard Total StockPairCorr
  0.98VFINX Vanguard 500 IndexPairCorr
  0.97VFFSX Vanguard 500 IndexPairCorr
  0.97VGTSX Vanguard Total InterPairCorr
  0.97VTIAX Vanguard Total InterPairCorr
  0.98APPIX Appleseed Fund AppleseedPairCorr
  0.94NBNAX Neuberger Berman IntPairCorr
  0.96JGRCX Janus EnterprisePairCorr
  0.73HIPIX The Hartford InflationPairCorr
  0.96ADVMX Advisory ResearchPairCorr
  0.99PALLX Allianzgi Global AllPairCorr
  0.97PBCJX Blue Chip FundPairCorr
  0.93ARGFX Ariel Fund InvestorPairCorr
  0.94WFPAX Wells Fargo SpecialPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

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