Hodges Small Correlations
HSVIX Fund | 18.03 0.27 1.48% |
The current 90-days correlation between Hodges Small Intrinsic and Hodges Small Cap is 0.92 (i.e., Almost no 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
Very poor diversification
The correlation between Hodges Small Intrinsic and DJI is 0.83 (i.e., Very poor 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.
Hodges |
Moving together with Hodges Mutual Fund
0.99 | HDPSX | Hodges Small Cap | PairCorr |
0.9 | HDPBX | Hodges Blue Chip | PairCorr |
0.96 | HDPMX | Hodges Fund Retail | PairCorr |
0.99 | HDSIX | Hodges Small Cap | PairCorr |
1.0 | HDSVX | Hodges Small Intrinsic | PairCorr |
0.99 | VSIIX | Vanguard Small Cap | PairCorr |
0.99 | VISVX | Vanguard Small Cap | PairCorr |
0.98 | DFSVX | Us Small Cap | PairCorr |
0.98 | DFFVX | Us Targeted Value | PairCorr |
0.99 | UBVCX | Undiscovered Managers | PairCorr |
0.95 | UBVAX | Undiscovered Managers | PairCorr |
0.95 | UBVSX | Undiscovered Managers | PairCorr |
0.95 | AVFIX | American Beacon Small | PairCorr |
0.91 | PFN | Pimco Income Strategy | PairCorr |
0.9 | CIF | Mfs Intermediate High | PairCorr |
0.86 | PCF | Putnam High Income | PairCorr |
0.79 | CFSMX | Clarkston Partners | PairCorr |
0.91 | MBCYX | Massmutual Select Blue | PairCorr |
0.94 | PFPPX | Midcap Growth | PairCorr |
0.95 | HULIX | Huber Capital Equity | PairCorr |
0.67 | OIBYX | Oppenheimer International | PairCorr |
0.85 | MSEQX | Growth Portfolio Class | PairCorr |
0.82 | EMKCX | Ashmore Emerging Markets | PairCorr |
0.92 | GMVAX | Goldman Sachs Smallmid | PairCorr |
0.86 | RPSIX | Spectrum Income | PairCorr |
0.95 | AICGX | Income Growth | PairCorr |
0.9 | PPLSX | Deutsche Multi Asset | PairCorr |
0.92 | JGINX | Janus Growth And | PairCorr |
0.86 | UGMVX | Global Managed Volatility | PairCorr |
0.9 | HCAIX | Harbor Capital Appre | PairCorr |
0.9 | QLMAGX | Legg Mason Partners | PairCorr |
0.89 | FNITX | Fidelity Advisor New | PairCorr |
0.82 | HBIOX | Hartford International | PairCorr |
Moving against Hodges Mutual Fund
Related Correlations Analysis
0.99 | 0.9 | 0.96 | 0.99 | 1.0 | HSVIX | ||
0.99 | 0.92 | 0.97 | 1.0 | 0.99 | HDPSX | ||
0.9 | 0.92 | 0.97 | 0.92 | 0.9 | HDPBX | ||
0.96 | 0.97 | 0.97 | 0.97 | 0.96 | HDPMX | ||
0.99 | 1.0 | 0.92 | 0.97 | 0.99 | HDSIX | ||
1.0 | 0.99 | 0.9 | 0.96 | 0.99 | HDSVX | ||
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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 | ||
---|---|---|---|---|---|---|---|---|---|---|
HSVIX | 1.02 | (0.02) | 0.06 | 0.22 | 0.83 | 2.87 | 7.28 | |||
HDPSX | 1.05 | 0.01 | 0.08 | 0.24 | 0.82 | 2.18 | 7.51 | |||
HDPBX | 0.74 | 0.37 | 0.08 | (1.21) | 0.46 | 2.11 | 6.06 | |||
HDPMX | 1.14 | 0.15 | 0.24 | 0.34 | 0.47 | 3.66 | 7.69 | |||
HDSIX | 1.05 | 0.01 | 0.08 | 0.24 | 0.80 | 2.18 | 7.52 | |||
HDSVX | 1.01 | (0.01) | 0.06 | 0.22 | 0.83 | 2.84 | 7.28 |