Hcm Income Correlations

HCMEX Fund

USD 18.35 0.13 0.70%

The current 90-days correlation between Hcm Income Plus and Hcm Dividend Sector is 0.93 (i.e., Almost no diversification). The correlation of Hcm Income 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.

Hcm Income Correlation With Market

Poor diversification

The correlation between Hcm Income Plus and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hcm Income Plus 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 Hcm Income Plus. 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 income.

Moving together with Hcm Mutual Fund

0.99	HCMPX	Hcm Dividend Sector	Pair Corr
0.99	HCMQX	Hcm Dividend Sector	Pair Corr
1.0	HCMSX	Hcm Tactical Growth	Pair Corr
0.99	HCMWX	Hcm Dividend Sector	Pair Corr
0.99	HCMZX	Hcm Dividend Sector	Pair Corr
1.0	HCMDX	Hcm Tactical Growth	Pair Corr
1.0	HCMGX	Hcm Tactical Growth	Pair Corr
1.0	HCMIX	Hcm Tactical Growth	Pair Corr
1.0	HCMKX	Hcm Income Plus	Pair Corr
1.0	HCMLX	Hcm Income Plus	Pair Corr
0.99	HCMNX	Hcm Dividend Sector	Pair Corr
0.89	FBONX	American Funds American	Pair Corr
0.93	FBAFX	American Funds American	Pair Corr
0.93	ABALX	American Balanced	Pair Corr
0.88	BALCX	American Balanced	Pair Corr
0.93	BALFX	American Balanced	Pair Corr
0.93	RLBCX	American Balanced	Pair Corr
0.92	RLBBX	American Balanced	Pair Corr
0.93	CLBAX	American Balanced	Pair Corr
0.93	CLBEX	American Balanced	Pair Corr
0.89	RLBFX	American Balanced	Pair Corr
0.86	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.86	LSHEX	Kinetics Spin Off Steady Growth	Pair Corr
0.86	LSHCX	Horizon Spin Off Steady Growth	Pair Corr
0.86	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.86	KNPCX	Kinetics Paradigm Steady Growth	Pair Corr
0.8	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.8	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.86	LSHAX	Horizon Spin Off Steady Growth	Pair Corr
0.79	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.86	KNPYX	Kinetics Paradigm Steady Growth	Pair Corr
0.96	ASTZX	Astor Long/short	Pair Corr
0.82	BGRFX	Baron Growth	Pair Corr
0.98	MIGYX	Oppenheimer Main Street	Pair Corr
0.82	BKPSX	Banks Ultrasector Profund Steady Growth	Pair Corr
0.97	FGLGX	Fidelity Series Growth	Pair Corr

Related Correlations Analysis

	HCMPX	HCMQX	HCMSX	HCMUX	HCMWX	HCMZX	HCMBX	HCMDX	HCMEX	HCMFX
HCMPX		1.0	0.98	0.28	1.0	1.0	0.26	0.98	0.99	0.06	HCMPX
HCMQX	1.0		0.98	0.27	1.0	1.0	0.26	0.98	0.99	0.06	HCMQX
HCMSX	0.98	0.98		0.19	0.98	0.98	0.17	1.0	1.0	-0.03	HCMSX
HCMUX	0.28	0.27	0.19		0.27	0.27	1.0	0.19	0.23	0.74	HCMUX
HCMWX	1.0	1.0	0.98	0.27		1.0	0.26	0.98	0.99	0.06	HCMWX
HCMZX	1.0	1.0	0.98	0.27	1.0		0.26	0.98	0.99	0.06	HCMZX
HCMBX	0.26	0.26	0.17	1.0	0.26	0.26		0.17	0.22	0.74	HCMBX
HCMDX	0.98	0.98	1.0	0.19	0.98	0.98	0.17		1.0	-0.03	HCMDX
HCMEX	0.99	0.99	1.0	0.23	0.99	0.99	0.22	1.0		0.01	HCMEX
HCMFX	0.06	0.06	-0.03	0.74	0.06	0.06	0.74	-0.03	0.01		HCMFX
	HCMPX	HCMQX	HCMSX	HCMUX	HCMWX	HCMZX	HCMBX	HCMDX	HCMEX	HCMFX

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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

HCMQX	+ 1.0	HCMPX
HCMWX	+ 1.0	HCMPX
HCMZX	+ 1.0	HCMPX
HCMWX	+ 1.0	HCMQX
HCMZX	+ 1.0	HCMQX
HCMDX	+ 1.0	HCMSX

High negative correlations

HCMFX	- 0.03	HCMDX
HCMFX	- 0.03	HCMSX

Risk-Adjusted Indicators

There is a big difference between Hcm Mutual Fund performing well and Hcm Income 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 Hcm Income'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
HCMPX	0.78	0.01	0.03	0.12	0.82	(0.85)	1.64	(1.50)	6.27
HCMQX	0.79	0.02	0.04	0.13	0.81	(0.86)	1.59	(1.50)	6.33
HCMSX	1.06	0.01	0.02	0.12	1.42	(1.03)	2.55	(2.40)	8.67
HCMUX	0.32	0.00	(0.23)	0.11	0.32	(0.36)	0.59	(0.60)	1.66
HCMWX	0.78	0.01	0.04	0.13	0.81	(0.85)	1.60	(1.47)	6.34
HCMZX	0.78	0.01	0.04	0.13	0.82	(0.85)	1.61	(1.47)	6.32
HCMBX	0.32	0.00	(0.22)	0.10	0.33	(0.36)	0.59	(0.60)	1.66
HCMDX	1.05	0.01	0.02	0.12	1.46	(1.02)	2.56	(2.40)	8.69
HCMEX	0.68	0.00	(0.02)	0.11	0.85	(0.69)	1.61	(1.41)	5.36
HCMFX	0.33	0.01	(0.24)	0.18	0.34	(0.37)	0.51	(0.60)	1.70

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