Locorr Hedged Correlations

LHEIX Fund

9.60 0.04 0.41%

The current 90-days correlation between Locorr Hedged Core and Midcap Value Fund is 0.33 (i.e., Weak diversification). The correlation of Locorr Hedged 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.

Locorr Hedged Correlation With Market

Weak diversification

The correlation between Locorr Hedged Core and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Locorr Hedged Core and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Locorr Hedged Core. 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 Locorr Mutual Fund

0.62	BTMPX	Ishares Msci Eafe	Pair Corr
0.62	BTMKX	Blackrock International	Pair Corr
0.62	MDIIX	Blackrock Intern Index	Pair Corr

Moving against Locorr Mutual Fund

0.47	KMKNX	Kinetics Market Oppo Steady Growth	Pair Corr
0.39	WCEYX	Ivy E Equity	Pair Corr
0.38	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.37	COGVX	Cognios Large Cap	Pair Corr
0.37	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.37	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.37	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.36	TRLCX	Tiaa-cref Large-cap	Pair Corr
0.35	PWTAX	Ubs Allocation	Pair Corr
0.33	MUSDX	Us Real Estate	Pair Corr
0.56	GUMPX	Guggenheim Market Neutral	Pair Corr
0.51	CPLIX	Calamos Phineus Longshort	Pair Corr
0.48	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.45	FSRBX	Banking Portfolio Banking	Pair Corr
0.41	TEGYX	Mid Cap Growth	Pair Corr
0.4	AMEIX	Equity Growth	Pair Corr
0.39	WCPSX	Mobile Telecommunicatio	Pair Corr
0.38	LGPIX	Large Cap Growth	Pair Corr
0.38	SDGTX	Deutsche Capital Growth	Pair Corr
0.36	THLCX	Thrivent Large Cap	Pair Corr
0.34	VFMFX	Vanguard Multifactor	Pair Corr
0.33	VSEQX	Vanguard Strategic Equity	Pair Corr
0.32	NAESX	Vanguard Small Cap	Pair Corr

Related Correlations Analysis

	LHEIX	PABVX	TRLCX	SSMOX	KMKNX	GAB	STENX	NAESX
LHEIX		-0.23	-0.36	-0.27	-0.47	-0.14	-0.17	-0.32	LHEIX
PABVX	-0.23		0.97	0.97	0.84	0.9	0.98	0.97	PABVX
TRLCX	-0.36	0.97		0.95	0.88	0.86	0.95	0.96	TRLCX
SSMOX	-0.27	0.97	0.95		0.9	0.9	0.96	0.99	SSMOX
KMKNX	-0.47	0.84	0.88	0.9		0.82	0.8	0.94	KMKNX
GAB	-0.14	0.9	0.86	0.9	0.82		0.88	0.9	GAB
STENX	-0.17	0.98	0.95	0.96	0.8	0.88		0.94	STENX
NAESX	-0.32	0.97	0.96	0.99	0.94	0.9	0.94		NAESX
	LHEIX	PABVX	TRLCX	SSMOX	KMKNX	GAB	STENX	NAESX

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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

NAESX	+ 0.99	SSMOX
STENX	+ 0.98	PABVX
TRLCX	+ 0.97	PABVX
SSMOX	+ 0.97	PABVX
NAESX	+ 0.97	PABVX
NAESX	+ 0.96	TRLCX

High negative correlations

KMKNX	- 0.47	LHEIX
TRLCX	- 0.36	LHEIX
NAESX	- 0.32	LHEIX
SSMOX	- 0.27	LHEIX
PABVX	- 0.23	LHEIX
STENX	- 0.17	LHEIX

Risk-Adjusted Indicators

There is a big difference between Locorr Mutual Fund performing well and Locorr Hedged 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 Locorr Hedged'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
LHEIX	0.24	(0.05)	0.00	(0.21)	0.00	0.00	0.42	(0.62)	1.24
PABVX	0.56	(0.01)	(0.05)	0.10	0.52	(0.64)	1.11	(1.00)	3.59
TRLCX	0.51	(0.01)	(0.06)	0.10	0.41	(0.60)	1.09	(0.88)	3.68
SSMOX	0.77	(0.02)	0.01	0.11	0.70	(0.94)	1.88	(1.35)	5.85
KMKNX	1.37	0.54	0.32	0.57	1.18	(1.67)	3.56	(2.21)	14.12
GAB	0.64	0.00	(0.02)	0.13	0.79	(0.66)	1.25	(1.29)	3.28
STENX	0.42	(0.02)	(0.10)	0.09	0.39	(0.52)	1.19	(0.71)	2.65
NAESX	0.75	0.02	0.05	0.14	0.69	(0.84)	1.62	(1.25)	5.35

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