Hotchkis Wiley Correlations

HWGAX Fund

USD 16.55 0.13 0.79%

The current 90-days correlation between Hotchkis Wiley Global and Hw Opportunities Mp is 0.88 (i.e., Very poor diversification). The correlation of Hotchkis Wiley 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.

Hotchkis Wiley Correlation With Market

Poor diversification

The correlation between Hotchkis Wiley Global 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 Hotchkis Wiley Global 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 Hotchkis Wiley Global. 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 nation.

Moving together with Hotchkis Mutual Fund

0.74	HOMPX	Hw Opportunities	Pair Corr
0.74	HWAAX	Hotchkis Wiley Value	Pair Corr
0.74	HWACX	Hotchkis Wiley Value	Pair Corr
0.74	HWAIX	Hotchkis Wiley Value	Pair Corr
0.74	HWAZX	Hotchkis Wiley Value	Pair Corr
0.78	HWCAX	Hotchkis Wiley Diver	Pair Corr
0.78	HWCIX	Hotchkis Wiley Diver	Pair Corr
1.0	HWGIX	Hotchkis Wiley Global	Pair Corr
0.77	HWLAX	Hotchkis Wiley Large	Pair Corr
0.77	HWLIX	Hotchkis Wiley Large	Pair Corr
0.89	HWMZX	Hotchkis Wiley Mid	Pair Corr
0.76	HWLZX	Hotchkis Wiley Large	Pair Corr
0.89	HWMAX	Hotchkis Wiley Mid	Pair Corr
0.89	HWMIX	Hotchkis Wiley Mid	Pair Corr
0.76	HWSAX	Hotchkis And Wiley	Pair Corr
0.76	HWSCX	Hotchkis Wiley Small	Pair Corr
0.75	HWSIX	Hotchkis Wiley Small	Pair Corr
0.75	HWSZX	Hotchkis Wiley Small	Pair Corr
0.66	HWVIX	Hotchkis Wiley Small	Pair Corr
0.66	HWVZX	Hotchkis Wiley Small	Pair Corr
0.66	HWVAX	Hotchkis Wiley Small	Pair Corr
0.64	TEDRX	Franklin Mutual Global	Pair Corr
0.67	FMDRX	Franklin Mutual Global	Pair Corr
0.73	DOXWX	Dodge Cox Global	Pair Corr
0.73	DODWX	Dodge Global Stock	Pair Corr
0.62	TRZRX	T Rowe Price	Pair Corr
0.65	TEDIX	Franklin Mutual Global	Pair Corr
0.66	MDISX	Franklin Mutual Global	Pair Corr
0.61	TEDSX	Franklin Mutual Global	Pair Corr
0.61	PRAFX	T Rowe Price	Pair Corr
0.78	BEGRX	Franklin Mutual Beacon	Pair Corr

Moving against Hotchkis Mutual Fund

0.36	CIOCX	Columbia Porate Income	Pair Corr
0.35	LIIAX	Columbia Porate Income	Pair Corr
0.34	SRINX	Columbia Porate Income	Pair Corr
0.33	CIFRX	Columbia Porate Income	Pair Corr

Related Correlations Analysis

	HOMPX	HWAAX	HWACX	HWAIX	HWAZX	HWCAX	HWCIX	HWHAX
HOMPX		0.86	0.87	0.86	0.86	0.78	0.78	0.64	HOMPX
HWAAX	0.86		1.0	1.0	1.0	0.97	0.97	0.65	HWAAX
HWACX	0.87	1.0		1.0	1.0	0.97	0.97	0.64	HWACX
HWAIX	0.86	1.0	1.0		1.0	0.97	0.97	0.65	HWAIX
HWAZX	0.86	1.0	1.0	1.0		0.97	0.97	0.65	HWAZX
HWCAX	0.78	0.97	0.97	0.97	0.97		1.0	0.54	HWCAX
HWCIX	0.78	0.97	0.97	0.97	0.97	1.0		0.55	HWCIX
HWHAX	0.64	0.65	0.64	0.65	0.65	0.54	0.55		HWHAX
	HOMPX	HWAAX	HWACX	HWAIX	HWAZX	HWCAX	HWCIX	HWHAX

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Risk-Adjusted Indicators

There is a big difference between Hotchkis Mutual Fund performing well and Hotchkis Wiley 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 Hotchkis Wiley'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
HOMPX	0.66	(0.03)	(0.07)	0.08	0.67	(0.81)	1.59	(1.20)	4.30
HWAAX	0.59	0.00	(0.02)	0.12	0.49	(0.79)	1.26	(0.97)	4.26
HWACX	0.59	0.00	(0.03)	0.12	0.50	(0.79)	1.28	(0.95)	4.28
HWAIX	0.59	0.00	(0.02)	0.12	0.49	(0.76)	1.28	(0.97)	4.27
HWAZX	0.59	0.00	(0.02)	0.12	0.49	(0.74)	1.26	(0.97)	4.27
HWCAX	0.63	(0.03)	(0.04)	0.10	0.55	(0.75)	1.33	(1.14)	4.77
HWCIX	0.63	(0.02)	(0.03)	0.10	0.55	(0.73)	1.33	(1.14)	4.72
HWHAX	0.11	0.01	(0.69)	0.27	0.00	(0.17)	0.29	(0.19)	0.86

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