Hodges Small Correlations

Mutual Funds . USA . 
Fund . Hodges Small Intrinsic
HDSVX Fund  USD 21.09  0.41  1.98%   
The current 90-days correlation between Hodges Small Intrinsic and Hodges Small Cap is 0.97 (i.e., Almost no 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

Very poor diversification

The correlation between Hodges Small Intrinsic and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hodges Small Intrinsic 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 Intrinsic. 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 real.

Moving together with Hodges Mutual Fund

  0.86HDPSX Hodges Small CapPairCorr
  0.69HDPBX Hodges Blue ChipPairCorr
  0.75HDPMX Hodges Fund RetailPairCorr
  0.86HDSIX Hodges Small CapPairCorr
  0.88VSIIX Vanguard Small CapPairCorr
  0.88VISVX Vanguard Small CapPairCorr
  0.92DFSVX Us Small CapPairCorr
  0.9DFFVX Us Targeted ValuePairCorr
  0.9UBVCX Undiscovered ManagersPairCorr
  0.9UBVAX Undiscovered ManagersPairCorr
  0.9UBVSX Undiscovered ManagersPairCorr
  0.9AVFIX American Beacon SmallPairCorr
  0.67LSHCX Horizon Spin Off Downward RallyPairCorr
  0.66KMKCX Kinetics Market Oppo Downward RallyPairCorr
  0.67LSHUX Horizon Spin Off Downward RallyPairCorr
  0.67KNPAX Kinetics Paradigm Downward RallyPairCorr
  0.67KNPCX Kinetics Paradigm Downward RallyPairCorr
  0.67KNPYX Kinetics Paradigm Downward RallyPairCorr
  0.67KSCOX Kinetics Small Cap Steady GrowthPairCorr
  0.67WWNPX Kinetics Paradigm Downward RallyPairCorr
  0.74GSFTX Columbia Dividend IncomePairCorr
  0.83AAMCX Absolute Capital AssetPairCorr
  0.83SSIAX 1919 Socially ResponsivePairCorr
  0.93PSTWX Smallcap ValuePairCorr
  0.8WWLAX Westwood Largecap ValuePairCorr
  0.76VFINX Vanguard 500 IndexPairCorr
  0.77VMCIX Vanguard Mid CapPairCorr
  0.76BSPIX Blackrock Sp 500PairCorr
  0.69VLCGX Large Capital GrowthPairCorr
  0.72RFNBX American Funds FundaPairCorr
  0.78DOXGX Dodge Cox StockPairCorr
  0.85TMFCX Touchstone Mid CapPairCorr

Related Correlations Analysis

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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.

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