Hodges Small Correlations

HSVIX Fund   18.03  0.27  1.48%   
The current 90-days correlation between Hodges Small Intrinsic and Deutsche Multi Asset Moderate is -0.05 (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

  0.98VSIIX Vanguard Small CapPairCorr
  0.98DFSVX Us Small CapPairCorr
  0.98DFFVX Us Targeted ValuePairCorr
  0.99UBVCX Undiscovered ManagersPairCorr
  0.83UBVAX Undiscovered ManagersPairCorr
  0.84UBVSX Undiscovered ManagersPairCorr
  0.84AVFIX American Beacon SmallPairCorr
  0.76MAUKX Pioneer Multi AssetPairCorr
  0.62CVX Chevron Corp Earnings Call This WeekPairCorr
  0.67INTC IntelPairCorr

Moving against Hodges Mutual Fund

  0.5TRV The Travelers CompaniesPairCorr
  0.45MCD McDonaldsPairCorr
  0.38PG Procter Gamble Earnings Call This WeekPairCorr

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.