Hcm Income Correlations

Mutual Funds . USA . 
Fund . Hcm Income Plus
HCMLX Fund  USD 18.73  0.18  0.95%   
The current 90-days correlation between Hcm Income Plus and Hcm Dividend Sector is 0.9 (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 0.69 (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 board of governors.

Moving together with Hcm Mutual Fund

  0.84HCMPX Hcm Dividend SectorPairCorr
  0.85HCMQX Hcm Dividend SectorPairCorr
  0.8HCMSX Hcm Tactical GrowthPairCorr
  0.65HCMUX Hcm Dynamic IncomePairCorr
  0.83HCMWX Hcm Dividend SectorPairCorr
  0.84HCMZX Hcm Dividend SectorPairCorr
  0.76HCMDX Hcm Tactical GrowthPairCorr
  1.0HCMEX Hcm Income PlusPairCorr
  0.63HCMFX Hcm Dynamic IncomePairCorr
  0.98HCMGX Hcm Tactical GrowthPairCorr
  0.77HCMIX Hcm Tactical GrowthPairCorr
  0.79HCMKX Hcm Income PlusPairCorr
  0.84HCMNX Hcm Dividend SectorPairCorr
  0.67MSDUX Morgan Stanley Insti Steady GrowthPairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
HCMPX  0.91 (0.03) 0.00  0.04  1.39 
(0.91)
 1.85 
(1.97)
 5.46 
HCMSX  1.31  0.01 (0.02) 0.37  1.98 
(1.22)
 2.85 
(3.03)
 7.35 
HCMUX  0.45 (0.06) 0.00 (0.06) 0.00 
 0.00 
 0.75 
(1.04)
 3.81 
HCMWX  0.92 (0.03) 0.00  0.04  1.42 
(0.85)
 1.86 
(1.97)
 5.46 
HCMZX  0.92 (0.03) 0.00  0.04  1.39 
(0.89)
 1.86 
(1.98)
 5.43 
HCMBX  0.44 (0.03) 0.00 (0.17) 0.00 
 0.00 
 0.74 
(0.95)
 3.63 
HCMDX  1.30  0.03  0.00  0.18  2.04 
(1.19)
 2.84 
(3.01)
 7.36 
HCMEX  0.87 (0.07)(0.04) 0.00  1.38 
(0.84)
 1.91 
(2.23)
 6.03 
HCMFX  0.44 (0.05) 0.00 (0.04) 0.00 
 0.00 
 0.67 
(0.96)
 3.01 
HCMGX  1.29 (0.06)(0.01) 0.02  2.00 
(1.21)
 2.85 
(3.03)
 7.35 

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