Hcm Dynamic Correlations

HCMFX Fund

USD 10.44 0.02 0.19%

The current 90-days correlation between Hcm Dynamic Income and Hcm Dividend Sector is -0.07 (i.e., Good diversification). The correlation of Hcm Dynamic 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 Dynamic Correlation With Market

Good diversification

The correlation between Hcm Dynamic Income and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hcm Dynamic Income 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 Dynamic Income. 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 census.

Moving together with Hcm Mutual Fund

0.63	HCMSX	Hcm Tactical Growth	Pair Corr
0.98	HCMUX	Hcm Dynamic Income	Pair Corr
0.83	HCMBX	Hcm Dynamic Income	Pair Corr
0.63	HCMLX	Hcm Income Plus	Pair Corr

Moving against Hcm Mutual Fund

0.57	FIQYX	Fidelity Global Credit	Pair Corr
0.43	DCGTX	Jackson Square Smid	Pair Corr
0.38	JSOZX	Jpmorgan Strategic Income	Pair Corr
0.36	JSORX	Jpmorgan Strategic Income	Pair Corr
0.31	JSOCX	Jpmorgan Strategic Income	Pair Corr
0.43	FBTIX	Fidelity Advisor Bio	Pair Corr
0.36	ADX	Adams Diversified Equity	Pair Corr

Related Correlations Analysis

	HCMPX	HCMQX	HCMSX	HCMUX	HCMWX	HCMZX	HCMBX	HCMDX	HCMEX	HCMFX
HCMPX		0.83	0.72	0.18	0.83	0.83	0.43	0.89	0.88	0.21	HCMPX
HCMQX	0.83		0.88	0.36	1.0	1.0	0.33	0.7	0.72	0.39	HCMQX
HCMSX	0.72	0.88		0.61	0.88	0.88	0.55	0.8	0.8	0.63	HCMSX
HCMUX	0.18	0.36	0.61		0.34	0.35	0.82	0.4	0.41	0.98	HCMUX
HCMWX	0.83	1.0	0.88	0.34		1.0	0.32	0.69	0.71	0.38	HCMWX
HCMZX	0.83	1.0	0.88	0.35	1.0		0.32	0.69	0.71	0.38	HCMZX
HCMBX	0.43	0.33	0.55	0.82	0.32	0.32		0.65	0.64	0.83	HCMBX
HCMDX	0.89	0.7	0.8	0.4	0.69	0.69	0.65		0.99	0.42	HCMDX
HCMEX	0.88	0.72	0.8	0.41	0.71	0.71	0.64	0.99		0.4	HCMEX
HCMFX	0.21	0.39	0.63	0.98	0.38	0.38	0.83	0.42	0.4		HCMFX
	HCMPX	HCMQX	HCMSX	HCMUX	HCMWX	HCMZX	HCMBX	HCMDX	HCMEX	HCMFX

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Risk-Adjusted Indicators

There is a big difference between Hcm Mutual Fund performing well and Hcm Dynamic 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 Dynamic'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	0.92	(0.03)	0.00	0.05	1.40	(0.91)	1.85	(1.97)	5.48
HCMQX	0.92	0.05	(0.01)	0.50	1.39	(0.89)	1.88	(1.99)	5.43
HCMSX	1.29	0.04	(0.02)	1.50	1.99	(1.21)	2.85	(3.03)	7.35
HCMUX	0.45	(0.03)	0.00	1.13	0.00	0.00	0.75	(1.04)	3.81
HCMWX	0.92	0.06	(0.01)	0.75	1.42	(0.85)	1.86	(1.97)	5.46
HCMZX	0.92	0.05	(0.01)	0.52	1.39	(0.89)	1.86	(1.98)	5.43
HCMBX	0.44	(0.06)	0.00	(0.05)	0.00	0.00	0.74	(0.95)	3.63
HCMDX	1.30	(0.08)	(0.01)	0.03	2.04	(1.19)	2.84	(3.01)	7.36
HCMEX	0.88	(0.07)	(0.04)	0.01	1.40	(0.83)	1.91	(2.23)	6.03
HCMFX	0.44	(0.02)	0.00	4.98	0.00	0.00	0.67	(0.96)	3.01

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