Hcm Income Correlations

HCMLX Fund

USD 18.87 0.20 1.05%

The current 90-days correlation between Hcm Income Plus and Multisector Bond Sma is 0.1 (i.e., Average 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 0.78 (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

0.91	HCMPX	Hcm Dividend Sector	Pair Corr
0.93	HCMQX	Hcm Dividend Sector	Pair Corr
0.96	HCMSX	Hcm Tactical Growth	Pair Corr
0.93	HCMWX	Hcm Dividend Sector	Pair Corr
0.94	HCMZX	Hcm Dividend Sector	Pair Corr
0.87	HCMBX	Hcm Dynamic Income	Pair Corr
0.71	HCMDX	Hcm Tactical Growth	Pair Corr
1.0	HCMEX	Hcm Income Plus	Pair Corr
0.96	HCMGX	Hcm Tactical Growth	Pair Corr
0.73	HCMIX	Hcm Tactical Growth	Pair Corr
0.78	HCMKX	Hcm Income Plus	Pair Corr
0.93	HCMNX	Hcm Dividend Sector	Pair Corr
0.81	ABALX	American Balanced	Pair Corr
0.75	BALCX	American Balanced	Pair Corr
0.81	BALFX	American Balanced	Pair Corr
0.73	FBONX	American Funds American	Pair Corr
0.74	FBAFX	American Funds American	Pair Corr
0.74	RLBCX	American Balanced	Pair Corr
0.74	RLBBX	American Balanced	Pair Corr
0.82	CLBAX	American Balanced	Pair Corr
0.74	CLBEX	American Balanced	Pair Corr
0.73	RLBFX	American Balanced	Pair Corr
0.82	NHS	Neuberger Berman High	Pair Corr
0.81	JPVRX	Jpmorgan International	Pair Corr
0.76	JABCX	Janus Balanced	Pair Corr
0.77	DDLDX	Doubleline Low Duration	Pair Corr
0.8	PPQZX	Pimco Realpath Blend	Pair Corr
0.79	ZEMIX	Investec Emerging Markets	Pair Corr
0.91	VNSAX	Vaughan Nelson Select	Pair Corr
0.76	NBFAX	Neuberger Berman Focus	Pair Corr
0.85	FYMRX	Fidelity Sustainable	Pair Corr
0.85	VTSAX	Vanguard Total Stock	Pair Corr
0.63	PRISX	T Rowe Price	Pair Corr
0.82	UUSIX	Ultra Short Term	Pair Corr
0.61	EICVX	Eic Value Fund	Pair Corr
0.8	QISOX	Pear Tree Polaris	Pair Corr
0.91	FRHMX	Fidelity Managed Ret	Pair Corr

Related Correlations Analysis

	ABNTX	PRFHX	ARTFX	GHVIX	BBINX	PATFX	GUIRX	MBSAX
ABNTX		0.66	0.57	0.67	0.69	0.65	0.65	0.55	ABNTX
PRFHX	0.66		0.82	0.73	0.95	0.98	0.97	0.7	PRFHX
ARTFX	0.57	0.82		0.92	0.92	0.77	0.89	0.86	ARTFX
GHVIX	0.67	0.73	0.92		0.87	0.65	0.79	0.93	GHVIX
BBINX	0.69	0.95	0.92	0.87		0.92	0.98	0.81	BBINX
PATFX	0.65	0.98	0.77	0.65	0.92		0.96	0.62	PATFX
GUIRX	0.65	0.97	0.89	0.79	0.98	0.96		0.75	GUIRX
MBSAX	0.55	0.7	0.86	0.93	0.81	0.62	0.75		MBSAX
	ABNTX	PRFHX	ARTFX	GHVIX	BBINX	PATFX	GUIRX	MBSAX

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
ABNTX	0.07	0.00	(0.29)	(0.18)	0.03	(0.11)	0.10	(0.10)	0.39
PRFHX	0.09	0.01	(0.18)	0.16	0.00	(0.15)	0.27	(0.18)	0.81
ARTFX	0.09	0.00	(0.23)	0.07	0.00	(0.19)	0.22	(0.11)	0.66
GHVIX	0.10	0.01	(0.16)	0.09	0.00	(0.13)	0.23	(0.23)	0.70
BBINX	0.06	0.01	(0.18)	0.51	0.00	(0.14)	0.19	(0.10)	0.48
PATFX	0.09	0.00	(0.17)	0.23	0.00	(0.14)	0.27	(0.18)	0.90
GUIRX	0.06	0.00	(0.24)	0.60	0.00	(0.11)	0.20	(0.07)	0.66
MBSAX	0.21	0.02	(0.05)	0.15	0.14	(0.26)	0.37	(0.44)	2.24

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Hcm Income Correlations

Hcm Income Correlation With Market

Poor diversification

Moving together with Hcm Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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