Hcm Income Correlations

HCMKX Fund

USD 18.21 0.14 0.77%

The current 90-days correlation between Hcm Income Plus and Transamerica Strategic High is 0.77 (i.e., Poor 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 0.69 (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 state.

Moving together with Hcm Mutual Fund

0.7	HCMPX	Hcm Dividend Sector	Pair Corr
0.72	HCMQX	Hcm Dividend Sector	Pair Corr
0.97	HCMSX	Hcm Tactical Growth	Pair Corr
0.71	HCMUX	Hcm Dynamic Income	Pair Corr
0.7	HCMZX	Hcm Dividend Sector	Pair Corr
0.7	HCMBX	Hcm Dynamic Income	Pair Corr
0.75	HCMDX	Hcm Tactical Growth	Pair Corr
0.8	HCMEX	Hcm Income Plus	Pair Corr
0.67	HCMFX	Hcm Dynamic Income	Pair Corr
0.74	HCMGX	Hcm Tactical Growth	Pair Corr
0.85	HCMIX	Hcm Tactical Growth	Pair Corr
1.0	HCMLX	Hcm Income Plus	Pair Corr

Related Correlations Analysis

	TSHIX	PRPIX	CAHEX	GGN	FFC	ASDVX	NWQAX	NWQIX	NWQCX	STAYX
TSHIX		0.29	0.8	0.52	0.55	0.84	0.88	0.94	0.87	0.2	TSHIX
PRPIX	0.29		0.31	0.09	0.15	0.05	0.17	0.2	0.19	0.29	PRPIX
CAHEX	0.8	0.31		0.22	0.65	0.62	0.83	0.77	0.83	0.3	CAHEX
GGN	0.52	0.09	0.22		0.14	0.53	0.6	0.61	0.59	-0.44	GGN
FFC	0.55	0.15	0.65	0.14		0.37	0.56	0.59	0.58	0.22	FFC
ASDVX	0.84	0.05	0.62	0.53	0.37		0.84	0.89	0.82	0.21	ASDVX
NWQAX	0.88	0.17	0.83	0.6	0.56	0.84		0.95	1.0	0.03	NWQAX
NWQIX	0.94	0.2	0.77	0.61	0.59	0.89	0.95		0.95	0.1	NWQIX
NWQCX	0.87	0.19	0.83	0.59	0.58	0.82	1.0	0.95		0.02	NWQCX
STAYX	0.2	0.29	0.3	-0.44	0.22	0.21	0.03	0.1	0.02		STAYX
	TSHIX	PRPIX	CAHEX	GGN	FFC	ASDVX	NWQAX	NWQIX	NWQCX	STAYX

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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

NWQCX	+ 1.0	NWQAX
NWQIX	+ 0.95	NWQAX
NWQCX	+ 0.95	NWQIX
NWQIX	+ 0.94	TSHIX
NWQIX	+ 0.89	ASDVX
NWQAX	+ 0.88	TSHIX

High negative correlations

STAYX

- 0.44

GGN

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
TSHIX	0.34	0.00	(0.09)	0.09	0.38	(0.38)	0.70	(0.63)	1.90
PRPIX	0.17	(0.01)	(0.40)	(0.18)	0.20	(0.19)	0.25	(0.37)	0.86
CAHEX	0.30	0.01	(0.12)	0.26	0.44	(0.29)	0.63	(0.73)	1.85
GGN	1.18	0.00	(0.01)	0.09	1.68	(1.22)	2.18	(2.35)	8.22
FFC	0.36	(0.03)	(0.16)	0.00	0.48	(0.39)	0.74	(0.78)	3.21
ASDVX	0.06	0.00	(0.71)	0.17	0.00	(0.15)	0.11	(0.11)	0.56
NWQAX	0.17	0.01	(0.28)	0.26	0.16	(0.20)	0.41	(0.31)	1.12
NWQIX	0.17	0.00	(0.29)	0.08	0.09	(0.21)	0.36	(0.30)	1.03
NWQCX	0.17	0.01	(0.28)	0.19	0.17	(0.21)	0.41	(0.31)	1.07
STAYX	0.10	0.00	(0.46)	(0.04)	0.06	(0.17)	0.22	(0.22)	0.88

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