Hodges Small Correlations
HDSIX Fund | USD 21.95 0.35 1.62% |
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
Modest diversification
The correlation between Hodges Small Cap and DJI is 0.24 (i.e., Modest 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.
Hodges |
Moving together with Hodges Mutual Fund
Moving against Hodges Mutual Fund
0.52 | CSAIX | Credit Suisse Managed | PairCorr |
0.43 | SECYX | Sdit Ultra Short | PairCorr |
0.31 | EIFHX | Eaton Vance Floating | PairCorr |
0.58 | SRDBX | Stone Ridge Diversified | PairCorr |
0.41 | OIBNX | Oppenheimer International | PairCorr |
Related Correlations Analysis
0.33 | 0.56 | 0.46 | 0.54 | 0.56 | 0.53 | QMHRX | ||
0.33 | 0.96 | 0.98 | 0.96 | 0.96 | 0.96 | FIPRX | ||
0.56 | 0.96 | 0.99 | 1.0 | 1.0 | 1.0 | ANBIX | ||
0.46 | 0.98 | 0.99 | 0.99 | 0.98 | 0.99 | HIPAX | ||
0.54 | 0.96 | 1.0 | 0.99 | 1.0 | 1.0 | QCILIX | ||
0.56 | 0.96 | 1.0 | 0.98 | 1.0 | 1.0 | ABNOX | ||
0.53 | 0.96 | 1.0 | 0.99 | 1.0 | 1.0 | TIILX | ||
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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 | ||
---|---|---|---|---|---|---|---|---|---|---|
QMHRX | 0.75 | 0.12 | 0.14 | (0.46) | 0.83 | 1.68 | 3.95 | |||
FIPRX | 0.20 | 0.04 | 0.19 | 0.30 | 0.09 | 0.51 | 1.34 | |||
ANBIX | 0.15 | 0.03 | 0.24 | 0.45 | 0.00 | 0.38 | 0.98 | |||
HIPAX | 0.14 | 0.03 | 0.23 | 0.30 | 0.00 | 0.30 | 0.80 | |||
QCILIX | 0.14 | 0.03 | 0.29 | 0.44 | 0.00 | 0.32 | 0.91 | |||
ABNOX | 0.15 | 0.03 | 0.24 | 0.43 | 0.00 | 0.30 | 0.89 | |||
TIILX | 0.15 | 0.03 | 0.27 | 0.45 | 0.00 | 0.29 | 0.95 |