Hussman Strategic Correlations

HSAFX Fund

USD 9.53 0.01 0.10%

The current 90-days correlation between Hussman Strategic and Transamerica Intermediate Muni is 0.4 (i.e., Very weak diversification). The correlation of Hussman Strategic 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.

Hussman Strategic Correlation With Market

Significant diversification

The correlation between Hussman Strategic Allocation and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hussman Strategic Allocation 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 Hussman Strategic Allocation. 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 census.

Moving together with Hussman Mutual Fund

0.75	FTCAX	Templeton Strained Bond	Pair Corr
0.66	PYARX	Payden Absolute Return	Pair Corr
0.73	BCAAX	Brandywineglobal C	Pair Corr
0.77	TRLCX	Tiaa-cref Large-cap	Pair Corr
0.74	WWLAX	Westwood Largecap Value	Pair Corr
0.63	FSBCX	Federated Global All	Pair Corr
0.74	NBGIX	Neuberger Berman Genesis	Pair Corr
0.74	MUTHX	Franklin Mutual Shares	Pair Corr
0.74	PRMTX	T Rowe Price	Pair Corr
0.75	VTSAX	Vanguard Total Stock	Pair Corr
0.72	WCPSX	Mobile Telecommunicatio	Pair Corr
0.73	VWENX	Vanguard Wellington	Pair Corr
0.8	PRCCX	Putnam Convertible Incm	Pair Corr
0.75	VBIAX	Vanguard Balanced Index	Pair Corr
0.73	BFTHX	Baron Fifth Avenue	Pair Corr
0.71	SMAPX	Salient Mlp Energy	Pair Corr
0.74	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.74	PREIX	T Rowe Price	Pair Corr

Moving against Hussman Mutual Fund

0.78	UIPIX	Ultrashort Mid Cap	Pair Corr
0.69	USPIX	Profunds Ultrashort	Pair Corr
0.68	USPSX	Profunds Ultrashort	Pair Corr

Related Correlations Analysis

	TIMTX	MDMTX	CSTIX	ABNTX	USCBX	ARTFX	PATIX
TIMTX		0.83	0.8	0.69	0.88	0.06	0.82	TIMTX
MDMTX	0.83		0.61	0.64	0.86	-0.33	0.8	MDMTX
CSTIX	0.8	0.61		0.75	0.61	0.05	0.72	CSTIX
ABNTX	0.69	0.64	0.75		0.57	-0.13	0.76	ABNTX
USCBX	0.88	0.86	0.61	0.57		0.13	0.87	USCBX
ARTFX	0.06	-0.33	0.05	-0.13	0.13		0.06	ARTFX
PATIX	0.82	0.8	0.72	0.76	0.87	0.06		PATIX
	TIMTX	MDMTX	CSTIX	ABNTX	USCBX	ARTFX	PATIX

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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

USCBX	+ 0.88	TIMTX
PATIX	+ 0.87	USCBX
USCBX	+ 0.86	MDMTX
MDMTX	+ 0.83	TIMTX
PATIX	+ 0.82	TIMTX
CSTIX	+ 0.8	TIMTX

High negative correlations

ARTFX	- 0.33	MDMTX
ARTFX	- 0.13	ABNTX

Risk-Adjusted Indicators

There is a big difference between Hussman Mutual Fund performing well and Hussman Strategic 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 Hussman Strategic'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
TIMTX	0.15	0.02	(0.31)	(0.12)	0.19	(0.21)	0.37	(0.28)	1.40
MDMTX	0.17	(0.01)	(0.31)	(0.03)	0.24	(0.23)	0.38	(0.56)	1.33
CSTIX	0.09	0.00	(0.95)	(0.05)	0.00	(0.15)	0.21	(0.11)	0.74
ABNTX	0.14	(0.01)	(0.52)	(0.47)	0.18	(0.17)	0.29	(0.30)	0.88
USCBX	0.16	0.00	(0.27)	0.18	0.22	(0.23)	0.39	(0.29)	1.74
ARTFX	0.12	0.04	(0.64)	(1.05)	0.00	(0.21)	0.33	(0.22)	1.01
PATIX	0.06	(0.01)	(0.36)	(0.11)	0.08	(0.20)	0.18	(0.18)	0.73

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