Hodges Fund Correlations

Mutual Funds . USA . 
Fund . Hodges Fund Retail
HDPMX Fund  USD 76.49  1.34  1.72%   
The current 90-days correlation between Hodges Fund Retail and Marsico 21st Century is 0.04 (i.e., Significant diversification). The correlation of Hodges Fund 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 Fund Correlation With Market

Significant diversification

The correlation between Hodges Fund Retail and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hodges Fund Retail 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 Fund Retail. 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 population.

Moving together with Hodges Mutual Fund

  0.94HDPSX Hodges Small CapPairCorr
  0.96HDPBX Hodges Blue ChipPairCorr
  0.97HDSIX Hodges Small CapPairCorr
  0.68HDSVX Hodges Small IntrinsicPairCorr
  0.96VIMAX Vanguard Mid CapPairCorr
  0.96VIMSX Vanguard Mid CapPairCorr
  0.98VMCPX Vanguard Mid CapPairCorr
  0.96VMCIX Vanguard Mid CapPairCorr
  0.98VEXAX Vanguard Extended MarketPairCorr
  0.95VEMPX Vanguard Extended MarketPairCorr
  0.98VIEIX Vanguard Extended MarketPairCorr
  0.95VSEMX Vanguard Extended MarketPairCorr
  0.95VEXMX Vanguard Extended MarketPairCorr
  0.98FSMAX Fidelity Extended MarketPairCorr
  0.64IVHIX Ivy High IncomePairCorr
  0.63IHIFX Ivy High IncomePairCorr
  0.9LLPFX Longleaf PartnersPairCorr
  0.95VIGAX Vanguard Growth IndexPairCorr
  0.72DPG Duff And PhelpsPairCorr
  0.95GRSPX Greenspring Fund RetailPairCorr
  0.9SCRYX Small Cap CorePairCorr
  0.98LTFOX Lord Abbett AffiliatedPairCorr
  0.94SMERX Invesco Small CapPairCorr
  0.98VFIAX Vanguard 500 IndexPairCorr
  0.95AGTHX Growth FundPairCorr
  0.97VFINX Vanguard 500 IndexPairCorr
  0.86FEMDX Franklin Emerging MarketPairCorr
  0.74PAHHX T Rowe PricePairCorr
  0.66RIV Rivernorth OpportunitiesPairCorr
  0.95INDEX Sp 500 EqualPairCorr
  0.96FPURX Fidelity PuritanPairCorr
  0.77GAB Gabelli Equity TrustPairCorr
  0.91WBCIX William Blair SmallPairCorr

Related Correlations Analysis

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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   
WWNPX
+ 0.95
MXXIX
RYVPX
+ 0.95
WWNPX
RYVPX
+ 0.93
MXXIX
FMIEX
+ 0.53
PGVFX
PGVFX
+ 0.11
RYVPX
PGVFX
+ 0.1
MXXIX
  
High negative correlations   
FMIEX
- 0.46
WWNPX
FMIEX
- 0.4
RYVPX
FMIEX
- 0.23
MXXIX
PGVFX
- 0.08
WWNPX

Risk-Adjusted Indicators

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