Huber Capital Correlations

HUSEX Fund

USD 29.50 0.28 0.96%

The current 90-days correlation between Huber Capital Small and Morningstar Municipal Bond is -0.18 (i.e., Good 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

Modest diversification

The correlation between Huber Capital Small and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Huber Capital Small 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 Small. 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 income.

Moving together with Huber Mutual Fund

0.89	HUDEX	Huber Capital Diversified	Pair Corr
0.89	HUDIX	Huber Capital Diversified	Pair Corr
0.82	HULEX	Huber Capital Equity	Pair Corr
0.93	HULIX	Huber Capital Equity	Pair Corr
0.94	HUMDX	Huber Capital Mid	Pair Corr
0.94	HUMEX	Huber Capital Mid	Pair Corr
1.0	HUSIX	Huber Capital Small	Pair Corr
0.9	VSIIX	Vanguard Small Cap	Pair Corr
0.9	VISVX	Vanguard Small Cap	Pair Corr
0.91	DFSVX	Us Small Cap	Pair Corr
0.94	DFFVX	Us Targeted Value	Pair Corr
0.76	UBVCX	Undiscovered Managers	Pair Corr
0.77	UBVAX	Undiscovered Managers	Pair Corr
0.78	UBVSX	Undiscovered Managers	Pair Corr
0.8	VSTSX	Vanguard Total Stock	Pair Corr
0.8	VSMPX	Vanguard Total Stock	Pair Corr
0.8	VITSX	Vanguard Total Stock	Pair Corr
0.75	VFFSX	Vanguard 500 Index	Pair Corr
0.75	VFIAX	Vanguard 500 Index	Pair Corr
0.76	VINIX	Vanguard Institutional	Pair Corr
0.8	VTSAX	Vanguard Total Stock	Pair Corr
0.87	FSMDX	Fidelity Mid Cap	Pair Corr
0.82	CAAYX	Invesco Conservative	Pair Corr
0.62	VMLTX	Vanguard Limited Term	Pair Corr
0.79	HBAAX	Hartford Moderate	Pair Corr
0.62	UINQX	Usaa Nasdaq 100	Pair Corr
0.91	VSEMX	Vanguard Extended Market	Pair Corr

Related Correlations Analysis

	MSTPX	ATOAX	PCMNX	SMAAX	TWTIX	AUNTX	OWMBX	SNCAX
MSTPX		0.0	0.99	0.99	0.99	0.79	0.98	0.98	MSTPX
ATOAX	0.0		0.0	0.03	0.03	0.12	0.11	-0.11	ATOAX
PCMNX	0.99	0.0		0.99	0.99	0.77	0.98	0.98	PCMNX
SMAAX	0.99	0.03	0.99		0.99	0.8	0.99	0.96	SMAAX
TWTIX	0.99	0.03	0.99	0.99		0.81	0.98	0.97	TWTIX
AUNTX	0.79	0.12	0.77	0.8	0.81		0.83	0.72	AUNTX
OWMBX	0.98	0.11	0.98	0.99	0.98	0.83		0.95	OWMBX
SNCAX	0.98	-0.11	0.98	0.96	0.97	0.72	0.95		SNCAX
	MSTPX	ATOAX	PCMNX	SMAAX	TWTIX	AUNTX	OWMBX	SNCAX

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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

PCMNX	+ 0.99	MSTPX
SMAAX	+ 0.99	MSTPX
TWTIX	+ 0.99	MSTPX
SMAAX	+ 0.99	PCMNX
TWTIX	+ 0.99	PCMNX
TWTIX	+ 0.99	SMAAX

High negative correlations

SNCAX	- 0.11	ATOAX
PCMNX	- 0.0	ATOAX
ATOAX	- 0.0	MSTPX

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
MSTPX	0.14	0.00	(0.27)	0.06	0.18	(0.19)	0.30	(0.30)	1.31
ATOAX	0.03	0.00	0.00	(0.24)	0.00	0.00	0.10	0.00	0.40
PCMNX	0.15	0.00	(0.25)	0.05	0.22	(0.17)	0.25	(0.33)	1.32
SMAAX	0.15	0.00	(0.26)	0.16	0.20	(0.18)	0.30	(0.30)	1.40
TWTIX	0.15	0.00	(0.25)	0.12	0.19	(0.20)	0.37	(0.37)	1.31
AUNTX	0.12	0.00	(0.35)	0.26	0.09	(0.17)	0.28	(0.19)	1.32
OWMBX	0.12	0.00	(0.28)	0.25	0.15	(0.16)	0.26	(0.35)	1.05
SNCAX	0.13	(0.01)	(0.35)	(0.10)	0.19	(0.14)	0.29	(0.29)	0.94

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