Hcm Dynamic Correlations

HCMUX Fund

10.28 0.03 0.29%

The current 90-days correlation between Hcm Dynamic Income and Hcm Dividend Sector is 0.42 (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

Very weak diversification

The correlation between Hcm Dynamic Income and DJI is 0.47 (i.e., Very weak 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 employment.

Moving together with Hcm Mutual Fund

0.94	HCMBX	Hcm Dynamic Income	Pair Corr
0.94	HCMFX	Hcm Dynamic Income	Pair Corr
0.63	BSDAX	Blackrock Smid Cap	Pair Corr
0.67	MEGIX	Msvif Growth Port	Pair Corr
0.65	HIX	Western Asset High	Pair Corr
0.71	FGB	First Trust Specialty	Pair Corr

Moving against Hcm Mutual Fund

0.75	BIGBX	Blackrock Government Bond	Pair Corr
0.39	PDI	Pimco Dynamic Income	Pair Corr

Related Correlations Analysis

	HCMPX	HCMQX	HCMBX	HCMDX	HCMEX	HCMFX	HCMIX	HCMKX	HCMLX	HCMNX
HCMPX		1.0	0.52	0.97	0.98	0.49	0.97	0.98	0.98	1.0	HCMPX
HCMQX	1.0		0.52	0.97	0.98	0.49	0.97	0.98	0.98	1.0	HCMQX
HCMBX	0.52	0.52		0.5	0.54	1.0	0.5	0.54	0.54	0.52	HCMBX
HCMDX	0.97	0.97	0.5		1.0	0.46	1.0	1.0	1.0	0.97	HCMDX
HCMEX	0.98	0.98	0.54	1.0		0.51	1.0	1.0	1.0	0.98	HCMEX
HCMFX	0.49	0.49	1.0	0.46	0.51		0.47	0.51	0.51	0.49	HCMFX
HCMIX	0.97	0.97	0.5	1.0	1.0	0.47		1.0	1.0	0.97	HCMIX
HCMKX	0.98	0.98	0.54	1.0	1.0	0.51	1.0		1.0	0.98	HCMKX
HCMLX	0.98	0.98	0.54	1.0	1.0	0.51	1.0	1.0		0.98	HCMLX
HCMNX	1.0	1.0	0.52	0.97	0.98	0.49	0.97	0.98	0.98		HCMNX
	HCMPX	HCMQX	HCMBX	HCMDX	HCMEX	HCMFX	HCMIX	HCMKX	HCMLX	HCMNX

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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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
HCMPX	0.77	0.06	0.09	0.17	0.77	(0.85)	1.64	(1.46)	6.27
HCMQX	0.77	0.07	0.10	0.17	0.77	(0.86)	1.59	(1.46)	6.33
HCMBX	0.36	0.03	(0.18)	2.59	0.40	(0.38)	0.68	(0.79)	1.83
HCMDX	1.14	0.17	0.12	0.24	1.27	(1.18)	2.71	(2.40)	8.69
HCMEX	0.71	0.10	0.08	0.23	0.77	(0.77)	1.70	(1.41)	5.36
HCMFX	0.36	0.02	(0.19)	0.82	0.40	(0.39)	0.68	(0.79)	1.84
HCMIX	1.15	0.17	0.12	0.25	1.27	(1.19)	2.71	(2.40)	8.70
HCMKX	0.71	0.09	0.07	0.22	0.77	(0.77)	1.70	(1.46)	5.42
HCMLX	0.70	0.10	0.08	0.23	0.78	(0.77)	1.69	(1.46)	5.34
HCMNX	0.77	0.07	0.09	0.17	0.77	(0.86)	1.61	(1.46)	6.31

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