Hotchkis Wiley Correlations

HWMZX Fund

USD 58.04 1.00 1.75%

The current 90-days correlation between Hotchkis Wiley Mid and Inverse Government Long is 0.02 (i.e., Significant 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

Very poor diversification

The correlation between Hotchkis Wiley Mid Cap and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hotchkis Wiley Mid Cap 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 Mid Cap. 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

0.82	HOMPX	Hw Opportunities	Pair Corr
0.71	HWAAX	Hotchkis Wiley Value	Pair Corr
0.82	HWACX	Hotchkis Wiley Value	Pair Corr
0.71	HWAIX	Hotchkis Wiley Value	Pair Corr
0.81	HWAZX	Hotchkis Wiley Value	Pair Corr
0.86	HWCAX	Hotchkis Wiley Diver	Pair Corr
0.86	HWCIX	Hotchkis Wiley Diver	Pair Corr
0.91	HWGIX	Hotchkis Wiley Global	Pair Corr
0.91	HWGAX	Hotchkis Wiley Global	Pair Corr
0.85	HWLAX	Hotchkis Wiley Large	Pair Corr
0.85	HWLIX	Hotchkis Wiley Large	Pair Corr
1.0	HWMAX	Hotchkis Wiley Mid	Pair Corr
1.0	HWMIX	Hotchkis Wiley Mid	Pair Corr
0.86	HWSAX	Hotchkis And Wiley	Pair Corr
0.86	HWSCX	Hotchkis Wiley Small	Pair Corr
0.86	HWSIX	Hotchkis Wiley Small	Pair Corr
0.86	HWSZX	Hotchkis Wiley Small	Pair Corr
0.8	HWVIX	Hotchkis Wiley Small	Pair Corr
0.8	HWVZX	Hotchkis Wiley Small	Pair Corr
0.8	HWVAX	Hotchkis Wiley Small	Pair Corr
0.92	FLPKX	Fidelity Low Priced	Pair Corr
0.77	FLPSX	Fidelity Low Priced	Pair Corr
0.73	VMVAX	Vanguard Mid Cap	Pair Corr
0.83	JVMAX	John Hancock Disciplined	Pair Corr
0.83	JVMIX	John Hancock Disciplined	Pair Corr
0.73	VMVIX	Vanguard Mid Cap	Pair Corr
0.76	JMVZX	Jpmorgan Mid Cap	Pair Corr
0.67	JMVRX	Jpmorgan Mid Cap	Pair Corr
0.67	JMVQX	Jpmorgan Mid Cap	Pair Corr
0.66	JMVYX	Jpmorgan Mid Cap	Pair Corr
0.65	SMPSX	Semiconductor Ultrasector	Pair Corr

Related Correlations Analysis

	RYAQX	BIGLX	RGVJX	SSAGX	LCCXX	AGIVX	UIGSX
RYAQX		-0.94	-0.94	0.64	0.0	0.33	-0.94	RYAQX
BIGLX	-0.94		0.97	-0.47	0.0	-0.08	0.97	BIGLX
RGVJX	-0.94	0.97		-0.44	0.0	-0.07	1.0	RGVJX
SSAGX	0.64	-0.47	-0.44		0.0	0.86	-0.41	SSAGX
LCCXX	0.0	0.0	0.0	0.0		0.0	0.0	LCCXX
AGIVX	0.33	-0.08	-0.07	0.86	0.0		-0.05	AGIVX
UIGSX	-0.94	0.97	1.0	-0.41	0.0	-0.05		UIGSX
	RYAQX	BIGLX	RGVJX	SSAGX	LCCXX	AGIVX	UIGSX

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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

UIGSX	+ 1.0	RGVJX
RGVJX	+ 0.97	BIGLX
UIGSX	+ 0.97	BIGLX
AGIVX	+ 0.86	SSAGX
SSAGX	+ 0.64	RYAQX
AGIVX	+ 0.33	RYAQX

High negative correlations

UIGSX	- 0.94	RYAQX
RGVJX	- 0.94	RYAQX
BIGLX	- 0.94	RYAQX
SSAGX	- 0.47	BIGLX
SSAGX	- 0.44	RGVJX
UIGSX	- 0.41	SSAGX

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
RYAQX	0.59	0.15	0.06	(2.35)	0.43	(0.69)	1.52	(1.16)	4.05
BIGLX	0.22	(0.04)	0.00	0.72	0.00	0.00	0.33	(0.55)	1.44
RGVJX	0.23	(0.05)	0.00	(0.92)	0.00	0.00	0.41	(0.51)	1.32
SSAGX	0.05	0.01	(0.87)	(0.31)	0.00	(0.23)	0.10	(0.10)	0.51
LCCXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AGIVX	0.09	0.01	(0.57)	(0.45)	0.00	(0.20)	0.29	(0.14)	0.72
UIGSX	0.18	(0.04)	0.00	(0.73)	0.00	0.00	0.34	(0.45)	1.12

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