| HCVIU Stock | | | USD 10.57 0.00 0.00% |
The current 90-days correlation between Hennessy Capital Inv and Home Plate Acquisition is -0.01 (i.e., Good diversification). The correlation of Hennessy Capital 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.
Hennessy Capital Correlation With Market
Good diversification
The correlation between Hennessy Capital Investment and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hennessy Capital Investment 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 Hennessy Capital Investment. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as
signals in gross domestic product.
Moving against Hennessy Stock
Related Correlations Analysis
Risk-Adjusted IndicatorsThere is a big difference between Hennessy Stock performing well and Hennessy Capital Company 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 Hennessy Capital'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.
Hennessy Capital Corporate Executives
Elected by the shareholders, the Hennessy Capital's board of directors comprises two types of representatives: Hennessy Capital inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Hennessy. The board's role is to monitor Hennessy Capital's management team and ensure that shareholders' interests are well served. Hennessy Capital's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Hennessy Capital's outside directors are responsible for providing unbiased perspectives on the board's policies.