Hcm Dynamic Correlations

Mutual Funds . USA . 
Fund . Hcm Dynamic Income
HCMBX Fund  USD 10.27  0.04  0.39%   
The current 90-days correlation between Hcm Dynamic Income and Hcm Dividend Sector is 0.43 (i.e., Very weak diversification). The correlation of Hcm Dynamic 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.

Hcm Dynamic Correlation With Market

Significant diversification

The correlation between Hcm Dynamic Income and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hcm Dynamic Income 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 Hcm Dynamic Income. 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 bureau of labor statistics.

Moving together with Hcm Mutual Fund

  1.0HCMUX Hcm Dynamic IncomePairCorr
  1.0HCMFX Hcm Dynamic IncomePairCorr
  0.62CGSAX Columbia Growth 529PairCorr
  0.61BSDAX Blackrock Smid CapPairCorr
  0.64MEGIX Msvif Growth PortPairCorr
  0.67HIX Western Asset HighPairCorr
  0.71AHYDX High Yield FundPairCorr
  0.74FGB First Trust SpecialtyPairCorr

Moving against Hcm Mutual Fund

  0.75BIGBX Blackrock Government BondPairCorr
  0.36PDI Pimco Dynamic IncomePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Hcm Mutual Fund performing well and Hcm Dynamic 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 Hcm Dynamic'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
HCMPX  0.77  0.20  0.10  2.32  0.77 
(0.85)
 1.64 
(1.46)
 6.27 
HCMQX  0.77  0.20  0.11  2.39  0.77 
(0.86)
 1.59 
(1.46)
 6.33 
HCMBX  0.36  0.01 (0.18) 0.85  0.42 
(0.38)
 0.68 
(0.79)
 1.83 
HCMDX  1.14  0.32  0.12 (79.65) 1.27 
(1.18)
 2.71 
(2.40)
 8.69 
HCMEX  0.71  0.19  0.09  9.18  0.77 
(0.77)
 1.70 
(1.41)
 5.36 
HCMFX  0.36  0.01 (0.19) 0.38  0.41 
(0.39)
 0.68 
(0.79)
 1.84 
HCMIX  1.16  0.16  0.11  0.22  1.28 
(1.19)
 2.71 
(2.40)
 8.70 
HCMKX  0.71  0.19  0.09  11.67  0.77 
(0.77)
 1.70 
(1.46)
 5.42 
HCMLX  0.70  0.08  0.07  0.20  0.79 
(0.76)
 1.69 
(1.46)
 5.34 
HCMNX  0.79  0.07  0.09  0.16  0.80 
(0.88)
 1.61 
(1.46)
 6.31 

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