Huber Capital Correlations

HUDIX Fund

USD 24.59 0.29 1.19%

The current 90-days correlation between Huber Capital Diversified and Teton Vertible Securities is 0.82 (i.e., Very poor diversification). The correlation of Huber Capital 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.

Huber Capital Correlation With Market

Almost no diversification

The correlation between Huber Capital Diversified and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Huber Capital Diversified 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 Huber Capital Diversified. 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 gross domestic product.

Moving together with Huber Mutual Fund

1.0	HUDEX	Huber Capital Diversified	Pair Corr
0.95	HULEX	Huber Capital Equity	Pair Corr
0.95	HULIX	Huber Capital Equity	Pair Corr
0.94	HUMDX	Huber Capital Mid	Pair Corr
0.94	HUMEX	Huber Capital Mid	Pair Corr
0.94	HUSEX	Huber Capital Small	Pair Corr
0.94	HUSIX	Huber Capital Small	Pair Corr
0.82	VVIAX	Vanguard Value Index	Pair Corr
0.85	DOXGX	Dodge Cox Stock	Pair Corr
0.85	AFMFX	American Mutual	Pair Corr
0.79	FFMMX	American Funds American	Pair Corr
0.8	FFFMX	American Funds American	Pair Corr
0.85	AMRMX	American Mutual	Pair Corr
0.79	AMFFX	American Mutual	Pair Corr
0.79	AMFCX	American Mutual	Pair Corr
0.92	DODGX	Dodge Stock Fund	Pair Corr
0.89	VIVAX	Vanguard Value Index	Pair Corr
0.89	VTSAX	Vanguard Total Stock	Pair Corr
0.85	VFIAX	Vanguard 500 Index	Pair Corr
0.89	VTSMX	Vanguard Total Stock	Pair Corr
0.89	VSMPX	Vanguard Total Stock	Pair Corr
0.89	VSTSX	Vanguard Total Stock	Pair Corr
0.85	VITSX	Vanguard Total Stock	Pair Corr
0.85	VFINX	Vanguard 500 Index	Pair Corr
0.89	VFFSX	Vanguard 500 Index	Pair Corr
0.86	PAHHX	T Rowe Price	Pair Corr
0.89	WBCIX	William Blair Small	Pair Corr
0.85	LLPFX	Longleaf Partners	Pair Corr
0.78	RQECX	Resq Dynamic Allocation	Pair Corr
0.74	GAB	Gabelli Equity Trust	Pair Corr
0.86	VWELX	Vanguard Wellington	Pair Corr
0.87	RWSIX	Redwood Systematic Macro	Pair Corr
0.87	SCRYX	Small Cap Core	Pair Corr
0.84	FBALX	Fidelity Balanced	Pair Corr
0.85	LTFOX	Lord Abbett Affiliated	Pair Corr

Related Correlations Analysis

	WEICX	LCFSX	GCV	CCD	ARBOX	CNSIX	MCSVX
WEICX		0.98	-0.02	0.41	0.85	0.98	0.84	WEICX
LCFSX	0.98		0.02	0.46	0.86	0.98	0.84	LCFSX
GCV	-0.02	0.02		-0.32	-0.09	-0.05	-0.27	GCV
CCD	0.41	0.46	-0.32		0.64	0.54	0.73	CCD
ARBOX	0.85	0.86	-0.09	0.64		0.9	0.8	ARBOX
CNSIX	0.98	0.98	-0.05	0.54	0.9		0.9	CNSIX
MCSVX	0.84	0.84	-0.27	0.73	0.8	0.9		MCSVX
	WEICX	LCFSX	GCV	CCD	ARBOX	CNSIX	MCSVX

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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

LCFSX	+ 0.98	WEICX
CNSIX	+ 0.98	WEICX
CNSIX	+ 0.98	LCFSX
CNSIX	+ 0.9	ARBOX
MCSVX	+ 0.9	CNSIX
ARBOX	+ 0.86	LCFSX

High negative correlations

CCD	- 0.32	GCV
MCSVX	- 0.27	GCV
ARBOX	- 0.09	GCV
CNSIX	- 0.05	GCV
GCV	- 0.02	WEICX

Risk-Adjusted Indicators

There is a big difference between Huber Mutual Fund performing well and Huber Capital 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 Huber Capital'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
WEICX	0.45	0.09	0.09	0.24	0.14	(0.54)	1.09	(0.72)	2.96
LCFSX	0.38	0.08	0.07	0.27	0.03	(0.47)	0.97	(0.68)	2.24
GCV	0.90	0.10	0.02	0.45	1.23	(0.94)	1.87	(1.80)	7.45
CCD	0.71	0.03	(0.02)	0.16	0.73	(0.83)	1.88	(1.56)	4.27
ARBOX	0.04	0.02	0.00	17.26	0.00	0.00	0.09	0.00	0.26
CNSIX	0.39	0.05	0.01	0.21	0.21	(0.47)	0.93	(0.73)	1.99
MCSVX	0.34	0.00	(0.11)	0.11	0.33	(0.39)	0.85	(0.63)	2.26

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