Hodges Blue Correlations

Mutual Funds . USA . 
Fund . Hodges Blue Chip
HDPBX Fund  USD 27.43  0.05  0.18%   
The current 90-days correlation between Hodges Blue Chip and Hodges Small Cap is 0.78 (i.e., Poor diversification). The correlation of Hodges Blue 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.

Hodges Blue Correlation With Market

Very poor diversification

The correlation between Hodges Blue Chip and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hodges Blue Chip 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 Hodges Blue Chip. 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 bureau of labor statistics.

Moving together with Hodges Mutual Fund

  0.94HDPSX Hodges Small CapPairCorr
  0.98HDPMX Hodges Fund RetailPairCorr
  0.94HDSIX Hodges Small CapPairCorr
  0.69HDSVX Hodges Small IntrinsicPairCorr
  0.99VTSAX Vanguard Total StockPairCorr
  0.99VFIAX Vanguard 500 IndexPairCorr
  0.99VTSMX Vanguard Total StockPairCorr
  0.99VITSX Vanguard Total StockPairCorr
  0.99VSMPX Vanguard Total StockPairCorr
  0.99VSTSX Vanguard Total StockPairCorr
  0.99VFINX Vanguard 500 IndexPairCorr
  0.99VFFSX Vanguard 500 IndexPairCorr
  0.99VINIX Vanguard InstitutionalPairCorr
  0.99VIIIX Vanguard InstitutionalPairCorr
  0.95SPGSX State Street PremierPairCorr
  0.75DPG Duff And PhelpsPairCorr
  0.88FEMDX Franklin Emerging MarketPairCorr
  0.95GRSPX Greenspring Fund RetailPairCorr
  0.82PAHHX T Rowe PricePairCorr
  0.94RQECX Resq Dynamic AllocationPairCorr
  0.96VTMFX Vanguard Tax ManagedPairCorr
  0.71RIV Rivernorth OpportunitiesPairCorr
  0.97FPURX Fidelity PuritanPairCorr
  0.87SCRYX Small Cap CorePairCorr
  0.98VIGAX Vanguard Growth IndexPairCorr
  0.79GAB Gabelli Equity TrustPairCorr
  0.84RCILX Alternative Credit IncomePairCorr
  0.9SMERX Invesco Small CapPairCorr
  0.96FBALX Fidelity BalancedPairCorr
  0.93WBCIX William Blair SmallPairCorr
  0.99INDEX Sp 500 EqualPairCorr
  0.94LLPFX Longleaf PartnersPairCorr
  0.93RWSIX Redwood Systematic MacroPairCorr

Moving against Hodges Mutual Fund

  0.87KF Korea ClosedPairCorr
  0.43BRUFX Bruce Fund BrucePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Hodges Mutual Fund performing well and Hodges Blue 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 Hodges Blue'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.

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