Hodges Small Correlations

HDPSX Fund

USD 21.84 0.06 0.27%

The current 90-days correlation between Hodges Small Cap and Hodges Fund Retail is 0.73 (i.e., Poor diversification). The correlation of Hodges Small 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 Small Correlation With Market

Weak diversification

The correlation between Hodges Small Cap and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hodges Small Cap 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 Small Cap. 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 state.

Moving together with Hodges Mutual Fund

0.74	HDPMX	Hodges Fund Retail	Pair Corr
0.97	HDSIX	Hodges Small Cap	Pair Corr
0.62	VSCIX	Vanguard Small Cap	Pair Corr
0.62	VSCPX	Vanguard Small Cap	Pair Corr
0.62	NAESX	Vanguard Small Cap	Pair Corr
0.7	FSSNX	Fidelity Small Cap	Pair Corr
0.82	DFSTX	Us Small Cap	Pair Corr
0.97	PASVX	T Rowe Price	Pair Corr
0.93	PRVIX	T Rowe Price	Pair Corr
0.91	TRZVX	T Rowe Price	Pair Corr
0.93	PRSVX	T Rowe Price	Pair Corr
0.84	WMNUX	Westwood Market Neutral	Pair Corr
0.73	MXHYX	Great West Putnam	Pair Corr

Moving against Hodges Mutual Fund

0.83	LBCQX	Lord Abbett Vertible	Pair Corr
0.6	CFRCX	Catalyst/princeton	Pair Corr
0.6	COIAX	Conservative Income	Pair Corr
0.42	QRPRX	Aqr Alternative Risk	Pair Corr
0.65	CFOAX	Calvert Floating Rate	Pair Corr
0.63	NFFCX	Nuveen Symphony Floating	Pair Corr
0.52	QMNNX	Aqr Equity Market	Pair Corr
0.5	MAHIX	Litman Gregory Masters	Pair Corr
0.46	0P0001GXZ7	Oaktree Iii	Pair Corr
0.44	ISIAX	Voya Strategic Income	Pair Corr
0.42	HOSTX	Holbrook Structured	Pair Corr
0.32	FORKX	Abraham Fortress	Pair Corr

Related Correlations Analysis

	HDPMX	SSSFX	BIAGX	ETGLX	MXXVX
HDPMX		0.62	0.57	0.73	0.7	HDPMX
SSSFX	0.62		0.92	0.19	0.87	SSSFX
BIAGX	0.57	0.92		0.09	0.77	BIAGX
ETGLX	0.73	0.19	0.09		0.45	ETGLX
MXXVX	0.7	0.87	0.77	0.45		MXXVX
	HDPMX	SSSFX	BIAGX	ETGLX	MXXVX

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 Small 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 Small'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
HDPMX	1.12	0.11	0.06	0.25	1.38	(1.18)	2.23	(1.93)	10.17
SSSFX	1.04	(0.21)	0.00	(0.36)	0.00	0.00	1.77	(1.24)	19.77
BIAGX	1.70	(0.66)	0.00	(0.79)	0.00	0.00	1.40	(1.62)	49.32
ETGLX	1.00	0.12	0.04	0.90	1.16	(1.11)	1.98	(2.07)	6.39
MXXVX	1.17	(0.05)	0.00	(0.03)	0.00	0.00	2.33	(2.57)	11.81

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC