Heartland Mid Correlations

HNMDX Fund

USD 15.42 0.12 0.78%

The current 90-days correlation between Heartland Mid Cap and Ab Relative Value is 0.86 (i.e., Very poor diversification). The correlation of Heartland Mid 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.

Heartland Mid Correlation With Market

Poor diversification

The correlation between Heartland Mid Cap and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Heartland Mid 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 Heartland Mid 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 unemployment.

Moving together with Heartland Mutual Fund

0.75	HNTVX	Heartland Value	Pair Corr
0.8	HNVIX	Heartland Value Plus	Pair Corr
1.0	HRMDX	Heartland Mid Cap	Pair Corr
0.68	HRVIX	Heartland Value Plus	Pair Corr
0.75	HRTVX	Heartland Value	Pair Corr
0.86	FLPKX	Fidelity Low Priced	Pair Corr
0.65	FLPSX	Fidelity Low Priced	Pair Corr
0.66	VMVAX	Vanguard Mid Cap	Pair Corr
0.76	JVMAX	John Hancock Disciplined	Pair Corr
0.75	JVMIX	John Hancock Disciplined	Pair Corr
0.67	VMVIX	Vanguard Mid Cap	Pair Corr
0.69	JMVZX	Jpmorgan Mid Cap	Pair Corr
0.68	JMVYX	Jpmorgan Mid Cap	Pair Corr
0.71	TIGGX	Goldman Sachs Tax	Pair Corr
0.73	RRTMX	T Rowe Price	Pair Corr
0.83	MSVVX	Mesirow Financial Small	Pair Corr
0.68	MVTRX	Transamerica Mid Cap	Pair Corr
0.63	QUAZX	Ab Small Cap	Pair Corr
0.81	UBVSX	Undiscovered Managers	Pair Corr
0.75	PEVAX	Pace Smallmedium Value	Pair Corr

Moving against Heartland Mutual Fund

0.6	USPIX	Profunds Ultrashort	Pair Corr
0.59	USPSX	Profunds Ultrashort	Pair Corr
0.76	UIPIX	Ultrashort Mid Cap	Pair Corr

Related Correlations Analysis

	CBBYX	DHLTX	FSEIX	WFMIX	FVLZX
CBBYX		0.82	0.97	0.82	0.94	CBBYX
DHLTX	0.82		0.8	0.87	0.78	DHLTX
FSEIX	0.97	0.8		0.85	0.98	FSEIX
WFMIX	0.82	0.87	0.85		0.84	WFMIX
FVLZX	0.94	0.78	0.98	0.84		FVLZX
	CBBYX	DHLTX	FSEIX	WFMIX	FVLZX

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Risk-Adjusted Indicators

There is a big difference between Heartland Mutual Fund performing well and Heartland Mid 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 Heartland Mid'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
CBBYX	0.49	(0.02)	(0.07)	0.10	0.45	(0.58)	1.10	(0.82)	3.62
DHLTX	0.73	0.06	(0.08)	(0.93)	0.78	(0.87)	1.59	(1.36)	5.13
FSEIX	0.68	(0.01)	0.01	0.11	0.56	(0.83)	1.60	(1.05)	5.12
WFMIX	0.54	0.05	(0.10)	0.63	0.53	(0.57)	1.22	(1.01)	3.67
FVLZX	0.72	0.00	0.02	0.12	0.64	(0.84)	1.69	(1.30)	4.93

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