Value Fund Correlations

HOVLX Fund

USD 57.87 0.02 0.03%

The current 90-days correlation between Value Fund Value and International Equity Fund is 0.52 (i.e., Very weak diversification). The correlation of Value Fund 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.

Value Fund Correlation With Market

Almost no diversification

The correlation between Value Fund Value and DJI is 0.93 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Value Fund Value 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 Value Fund Value. 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 bureau of economic analysis.

Moving together with Value Mutual Fund

0.92	HNASX	Growth Fund Growth	Pair Corr
0.92	HSCSX	Small-company Stock	Pair Corr
0.96	HSTIX	Stock Index Fund	Pair Corr
0.91	VVIAX	Vanguard Value Index	Pair Corr
0.9	DOXGX	Dodge Cox Stock	Pair Corr
0.92	AFMFX	American Mutual	Pair Corr
0.84	FFMMX	American Funds American	Pair Corr
0.84	FFFMX	American Funds American	Pair Corr
0.91	AMRMX	American Mutual	Pair Corr
0.83	AMFFX	American Mutual	Pair Corr
0.82	AMFCX	American Mutual	Pair Corr
0.96	DODGX	Dodge Stock Fund	Pair Corr
0.98	VIVAX	Vanguard Value Index	Pair Corr
0.93	DXQLX	Direxion Monthly Nasdaq	Pair Corr
0.93	RYVLX	Nasdaq 100 2x	Pair Corr
0.89	RYVYX	Nasdaq 100 2x	Pair Corr
0.93	UOPIX	Ultra Nasdaq 100	Pair Corr
0.93	RYCCX	Nasdaq 100 2x	Pair Corr
0.93	UOPSX	Ultranasdaq 100 Profund	Pair Corr
0.91	INPIX	Internet Ultrasector	Pair Corr
0.91	INPSX	Internet Ultrasector	Pair Corr
0.65	GOPIX	Aberdeen China Oppty	Pair Corr
0.72	BSCXX	Northern Institutional	Pair Corr
0.98	TAAIX	Thrivent Aggressive	Pair Corr
0.96	VWENX	Vanguard Wellington	Pair Corr
0.96	VINIX	Vanguard Institutional	Pair Corr
0.97	TIMVX	Tiaa-cref Mid-cap	Pair Corr
0.93	VCBCX	Blue Chip Growth	Pair Corr
0.97	TIGGX	Goldman Sachs Tax	Pair Corr
0.97	TRPIX	T Rowe Price	Pair Corr
0.72	VMRXX	Vanguard Money Market	Pair Corr
0.97	ASCGX	Lebenthal Lisanti Small	Pair Corr

Moving against Value Mutual Fund

0.63	HOIBX	Homestead Intermediate	Pair Corr
0.53	HOSGX	Short Term Government	Pair Corr
0.42	HOSBX	Short Term Bond	Pair Corr
0.35	HISIX	International Equity	Pair Corr

Related Correlations Analysis

	HISIX	HNASX	HOIBX	HOSBX	HOSGX	HRRLX	HSCSX	HSTIX
HISIX		-0.52	0.7	0.57	0.67	0.0	-0.53	-0.41	HISIX
HNASX	-0.52		-0.77	-0.56	-0.68	0.0	0.92	0.98	HNASX
HOIBX	0.7	-0.77		0.9	0.95	0.0	-0.76	-0.71	HOIBX
HOSBX	0.57	-0.56	0.9		0.95	0.0	-0.61	-0.5	HOSBX
HOSGX	0.67	-0.68	0.95	0.95		0.0	-0.72	-0.6	HOSGX
HRRLX	0.0	0.0	0.0	0.0	0.0		0.0	0.0	HRRLX
HSCSX	-0.53	0.92	-0.76	-0.61	-0.72	0.0		0.91	HSCSX
HSTIX	-0.41	0.98	-0.71	-0.5	-0.6	0.0	0.91		HSTIX
	HISIX	HNASX	HOIBX	HOSBX	HOSGX	HRRLX	HSCSX	HSTIX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

HSTIX	+ 0.98	HNASX
HOSGX	+ 0.95	HOIBX
HOSGX	+ 0.95	HOSBX
HSCSX	+ 0.92	HNASX
HSTIX	+ 0.91	HSCSX
HOSBX	+ 0.9	HOIBX

High negative correlations

HOIBX	- 0.77	HNASX
HSCSX	- 0.76	HOIBX
HSCSX	- 0.72	HOSGX
HSTIX	- 0.71	HOIBX
HOSGX	- 0.68	HNASX
HSCSX	- 0.61	HOSBX

Risk-Adjusted Indicators

There is a big difference between Value Mutual Fund performing well and Value Fund 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 Value Fund'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
HISIX	0.62	(0.14)	0.00	(0.19)	0.00	0.00	1.38	(1.43)	4.16
HNASX	0.67	0.00	(0.02)	0.11	0.99	(0.64)	1.47	(1.98)	4.73
HOIBX	0.22	(0.02)	0.00	0.56	0.00	0.00	0.43	(0.65)	1.29
HOSBX	0.09	0.00	(0.54)	0.21	0.10	(0.23)	0.20	(0.20)	0.61
HOSGX	0.11	(0.01)	(0.51)	0.27	0.14	(0.23)	0.20	(0.20)	1.00
HRRLX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HSCSX	0.91	(0.02)	0.03	0.10	0.93	(1.07)	2.00	(1.53)	7.23
HSTIX	0.54	(0.01)	(0.04)	0.11	0.66	(0.58)	1.17	(1.32)	3.86

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