Hotchkis Wiley Correlations

HWCAX Fund

USD 32.26 0.01 0.03%

The current 90-days correlation between Hotchkis Wiley Diver and Fidelity Real Estate is 0.56 (i.e., Very weak diversification). The correlation of Hotchkis Wiley 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.

Hotchkis Wiley Correlation With Market

Significant diversification

The correlation between Hotchkis Wiley Diversified and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hotchkis Wiley Diversified 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 Hotchkis Wiley Diversified. 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 nation.

Moving together with Hotchkis Mutual Fund

0.73	HWAAX	Hotchkis Wiley Value	Pair Corr
0.7	HWGIX	Hotchkis Wiley Global	Pair Corr
0.9	HWGAX	Hotchkis Wiley Global	Pair Corr
0.73	HWLIX	Hotchkis Wiley Large	Pair Corr
0.64	FWWMX	American Funds Washington	Pair Corr
0.64	FWMMX	American Funds Washington	Pair Corr
0.77	AWSHX	Washington Mutual	Pair Corr
0.79	WSHCX	Washington Mutual	Pair Corr
0.64	WSHFX	Washington Mutual	Pair Corr
0.79	RWMAX	Washington Mutual	Pair Corr
0.77	CWMAX	Washington Mutual	Pair Corr
0.76	RWMGX	Washington Mutual	Pair Corr
0.79	CWMCX	Washington Mutual	Pair Corr
0.65	NFJ	Virtus Dividend Interest	Pair Corr
0.71	STBJX	Sierra Tactical Bond	Pair Corr

Related Correlations Analysis

	FIKMX	FSERX	RRRZX	TIREX	PJEAX	CREMX	VRREX
FIKMX		0.58	0.59	0.72	0.88	0.48	0.85	FIKMX
FSERX	0.58		0.98	0.89	0.67	-0.07	0.72	FSERX
RRRZX	0.59	0.98		0.92	0.68	0.05	0.7	RRRZX
TIREX	0.72	0.89	0.92		0.7	0.32	0.7	TIREX
PJEAX	0.88	0.67	0.68	0.7		0.19	0.97	PJEAX
CREMX	0.48	-0.07	0.05	0.32	0.19		0.11	CREMX
VRREX	0.85	0.72	0.7	0.7	0.97	0.11		VRREX
	FIKMX	FSERX	RRRZX	TIREX	PJEAX	CREMX	VRREX

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

RRRZX	+ 0.98	FSERX
VRREX	+ 0.97	PJEAX
TIREX	+ 0.92	RRRZX
TIREX	+ 0.89	FSERX
PJEAX	+ 0.88	FIKMX
VRREX	+ 0.85	FIKMX

High negative correlations

CREMX

- 0.07

FSERX

Risk-Adjusted Indicators

There is a big difference between Hotchkis Mutual Fund performing well and Hotchkis Wiley 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 Hotchkis Wiley'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
FIKMX	0.17	0.01	(0.17)	0.17	0.13	(0.23)	0.41	(0.41)	1.23
FSERX	0.58	(0.03)	(0.07)	0.01	0.75	(0.65)	1.29	(1.20)	3.78
RRRZX	0.58	(0.02)	(0.06)	0.02	0.74	(0.64)	1.23	(1.15)	3.67
TIREX	0.57	0.00	(0.04)	0.06	0.77	(0.56)	1.12	(1.32)	3.98
PJEAX	0.65	0.03	(0.02)	0.22	0.80	(0.66)	1.36	(1.42)	3.75
CREMX	0.03	0.01	0.00	(1.71)	0.00	0.00	0.08	0.00	0.72
VRREX	0.61	0.02	(0.04)	0.16	0.81	(0.63)	1.34	(1.29)	3.92

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