Hodges Small Correlations

HDSVX Fund

USD 18.13 0.29 1.63%

The current 90-days correlation between Hodges Small Intrinsic and Hodges Small Cap is -0.07 (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 -0.18 (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 real.

Moving together with Hodges Mutual Fund

0.96	HSVIX	Hodges Small Intrinsic	Pair Corr
0.91	HDPBX	Hodges Blue Chip	Pair Corr
0.99	HDSIX	Hodges Small Cap	Pair Corr
0.95	VISVX	Vanguard Small Cap	Pair Corr
0.91	SMPIX	Semiconductor Ultrasector	Pair Corr
0.91	SMPSX	Semiconductor Ultrasector	Pair Corr
0.92	ONERX	One Rock Fund	Pair Corr
0.92	VFIAX	Vanguard 500 Index	Pair Corr
0.91	IASMX	Guinness Atkinson Asia	Pair Corr
0.88	TNXAX	1290 Doubleline Dynamic	Pair Corr
0.91	JFQUX	Jpmorgan Investor	Pair Corr
0.93	VITAX	Vanguard Information	Pair Corr
0.89	ICTEX	Icon Information Tec	Pair Corr
0.69	TGRKX	Tiaa Cref Green	Pair Corr

Moving against Hodges Mutual Fund

0.58

FSTBX

Federated Global All

Pair Corr

Related Correlations Analysis

	HDPSX	HDPBX	HDPMX	JSCGX	OBSOX
HDPSX		0.39	0.97	0.43	0.77	HDPSX
HDPBX	0.39		0.51	0.95	0.69	HDPBX
HDPMX	0.97	0.51		0.52	0.84	HDPMX
JSCGX	0.43	0.95	0.52		0.64	JSCGX
OBSOX	0.77	0.69	0.84	0.64		OBSOX
	HDPSX	HDPBX	HDPMX	JSCGX	OBSOX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
HDPSX	1.01	0.10	0.08	0.28	0.87	(1.19)	2.16	(1.86)	7.51
HDPBX	0.75	0.26	0.11	1.78	0.65	(0.86)	2.11	(1.17)	6.06
HDPMX	1.04	0.18	0.16	0.37	0.66	(1.26)	2.25	(1.52)	7.69
JSCGX	1.42	0.42	0.11	(1.19)	1.44	(1.53)	2.80	(2.12)	6.33
OBSOX	0.86	0.11	0.09	0.30	0.65	(1.01)	1.93	(1.33)	6.14

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