Hodges Small Correlations

Mutual Funds . USA . 
Fund . Hodges Small Intrinsic
HSVIX Fund   17.92  0.06  0.34%   
The current 90-days correlation between Hodges Small Intrinsic and Mainstay Conservative Allocation is -0.09 (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 Intrinsic and DJI is -0.19 (i.e., Good 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 gross domestic product.

Moving together with Hodges Mutual Fund

  0.96HDPSX Hodges Small CapPairCorr
  0.69HDPBX Hodges Blue ChipPairCorr
  0.96HDPMX Hodges Fund RetailPairCorr
  0.96HDSIX Hodges Small CapPairCorr
  0.69HDSVX Hodges Small IntrinsicPairCorr
  0.71VSIIX Vanguard Small CapPairCorr
  0.96VISVX Vanguard Small CapPairCorr
  0.96DFSVX Us Small CapPairCorr
  0.72DFFVX Us Targeted ValuePairCorr
  0.95UBVCX Undiscovered ManagersPairCorr
  0.71UBVAX Undiscovered ManagersPairCorr
  0.95UBVSX Undiscovered ManagersPairCorr
  0.96AVFIX American Beacon SmallPairCorr
  0.92SMPIX Semiconductor Ultrasector Steady GrowthPairCorr
  0.92SMPSX Semiconductor Ultrasector Steady GrowthPairCorr
  0.93TTEEX T Rowe PricePairCorr
  0.93TREMX T Rowe PricePairCorr
  0.67FIKGX 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
  0.92FELAX Fidelity Advisor SemPairCorr
  0.93VFIAX Vanguard 500 IndexPairCorr
  0.91IASMX Guinness Atkinson Asia Steady GrowthPairCorr
  0.64TNXAX 1290 Doubleline DynamicPairCorr
  0.75NWHZX Nationwide Geneva SmallPairCorr
  0.92JFQUX Jpmorgan InvestorPairCorr
  0.89MSEGX Growth Portfolio Class Steady GrowthPairCorr
  0.69FSTBX Federated Global AllPairCorr
  0.92DILCX Davis InternationalPairCorr
  0.93VITAX Vanguard InformationPairCorr
  0.89ICTEX Icon Information TecPairCorr
  0.71TGRKX Tiaa Cref GreenPairCorr
  0.64PYEMX 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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