Hennessy Large Correlations
| HLFNX Fund | USD 32.31 0.29 0.89% |
The current 90-days correlation between Hennessy Large Cap and Hennessy Small Cap is 0.91 (i.e., Almost no diversification). The correlation of Hennessy Large 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.
Hennessy Large Correlation With Market
Modest diversification
The correlation between Hennessy Large Cap and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hennessy Large Cap and DJI in the same portfolio, assuming nothing else is changed.
Hennessy |
Moving together with Hennessy Mutual Fund
| 0.8 | HNRGX | Hennessy Bp Energy | PairCorr |
| 0.74 | HTECX | Hennessy Technology | PairCorr |
| 0.97 | VFAIX | Vanguard Financials Index | PairCorr |
| 0.81 | DVFYX | Davis Financial | PairCorr |
| 0.79 | FSMMX | Fs Multi Strategy | PairCorr |
Related Correlations Analysis
| 0.15 | 0.86 | 0.78 | 0.87 | HSFNX | ||
| 0.15 | 0.34 | 0.22 | 0.18 | HILFX | ||
| 0.86 | 0.34 | 0.73 | 0.85 | BREFX | ||
| 0.78 | 0.22 | 0.73 | 0.73 | HFCSX | ||
| 0.87 | 0.18 | 0.85 | 0.73 | HJPNX | ||
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Risk-Adjusted Indicators
There is a big difference between Hennessy Mutual Fund performing well and Hennessy Large 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 Hennessy Large'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| HSFNX | 1.34 | 0.01 | (0.01) | 0.09 | 1.71 | 3.05 | 18.43 | |||
| HILFX | 1.09 | 0.19 | 0.17 | 0.20 | 0.98 | 1.82 | 15.79 | |||
| BREFX | 0.90 | (0.07) | 0.00 | (0.04) | 0.00 | 1.65 | 7.13 | |||
| HFCSX | 1.10 | (0.25) | 0.00 | (0.36) | 0.00 | 1.62 | 15.24 | |||
| HJPNX | 0.85 | (0.09) | 0.00 | (0.12) | 0.00 | 1.45 | 7.16 |