Homestead Intermediate Correlations

Mutual Funds . USA . 
Fund . Homestead Intermediate Bond
HOIBX Fund  USD 4.66  0.01  0.22%   
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

Significant diversification

The correlation between Homestead Intermediate Bond and DJI is 0.09 (i.e., Significant 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

  0.82HISIX International EquityPairCorr
  0.78HNASX Growth Fund GrowthPairCorr
  0.95HOSBX Short Term BondPairCorr
  0.95HOSGX Short Term GovernmentPairCorr
  0.77HOVLX Value Fund ValuePairCorr
  0.79HSTIX Stock Index FundPairCorr
  0.96VBTLX Vanguard Total BondPairCorr
  0.99VBMFX Vanguard Total BondPairCorr
  0.99VBTIX Vanguard Total BondPairCorr
  0.99VTBSX Vanguard Total BondPairCorr
  0.96VTBIX Vanguard Total BondPairCorr
  0.99VTBNX Vanguard Total BondPairCorr
  0.99FBOFX American FundsPairCorr
  0.99FFBOX American FundsPairCorr
  1.0BFAFX Bond FundPairCorr
  0.97ABNDX Bond FundPairCorr
  0.88IYGOX Ivy Global BondPairCorr
  0.69TIIRX Tiaa Cref GrowthPairCorr
  0.9FFQAX Franklin Federal TaxPairCorr
  0.97GIBAX Guggenheim Total ReturnPairCorr
  0.82LIWIX Blackrock Lifepath IndexPairCorr
  0.72JFACX Fundamental All CapPairCorr
  0.89ARCSX One Choice 2030PairCorr
  0.91JRTAX Retirement Living ThroughPairCorr
  0.72STCZX Ridgeworth Silvant LargePairCorr
  0.78PRJCX Prudential JennisonPairCorr
  0.83TEQLX Tiaa Cref EmergingPairCorr
  0.69DOMIX Domini Impact InternPairCorr
  0.61MMUIX Mfs UtilitiesPairCorr
  0.93PGBIX Global Bond FundPairCorr
  0.85ARFVX One Choice 2050PairCorr
  0.85VEXMX Vanguard Extended MarketPairCorr
  0.78PHYEX Pgim High YieldPairCorr
  0.85GOLDX Gabelli Gold Steady GrowthPairCorr
  0.84UMBMX Scout Mid CapPairCorr
  0.81LSGRX Loomis Sayles GrowthPairCorr
  0.76TGVFX Growth OpportunitiesPairCorr

Related Correlations Analysis


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.

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