Hussman Strategic Correlations

HSAFX Fund

USD 9.44 0.04 0.42%

The current 90-days correlation between Hussman Strategic and Hussman Strategic Dividend is -0.03 (i.e., Good diversification). The correlation of Hussman Strategic 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.

Hussman Strategic Correlation With Market

Modest diversification

The correlation between Hussman Strategic Allocation and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hussman Strategic Allocation 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 Hussman Strategic Allocation. 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 census.

Moving together with Hussman Mutual Fund

0.77	VSTSX	Vanguard Total Stock	Pair Corr
0.77	VSMPX	Vanguard Total Stock	Pair Corr
0.77	VITSX	Vanguard Total Stock	Pair Corr
0.76	VFFSX	Vanguard 500 Index	Pair Corr
0.74	VFIAX	Vanguard 500 Index	Pair Corr
0.76	VINIX	Vanguard Institutional	Pair Corr
0.77	VTSAX	Vanguard Total Stock	Pair Corr
0.67	AMECX	Income Fund	Pair Corr
0.76	FZROX	Fidelity Zero Total	Pair Corr
0.69	BTCVX	Cboe Vest Bitcoin	Pair Corr
0.71	CLM	Cornerstone Strategic	Pair Corr
0.8	GVCAX	Gabelli Value	Pair Corr
0.67	RA	Brookfield Real Assets	Pair Corr
0.81	FGB	First Trust Specialty	Pair Corr
0.74	FIVUX	First Investors Oppo	Pair Corr
0.74	VFINX	Vanguard 500 Index	Pair Corr
0.78	AMGOX	Alger Mid Cap	Pair Corr
0.78	HIX	Western Asset High	Pair Corr
0.7	RGGEX	American Funds Global	Pair Corr

Moving against Hussman Mutual Fund

0.32	VTSNX	Vanguard Total Inter	Pair Corr
0.32	VTPSX	Vanguard Total Inter	Pair Corr
0.31	VTISX	Vanguard Total Inter	Pair Corr

Related Correlations Analysis

	HSAFX	HSDVX	HSGFX	HSTRX	DFSVX	WCPSX	CRF	PLFIX	GAB	HYMAX
HSAFX		0.51	-0.05	-0.03	0.71	0.76	0.75	0.76	0.83	0.42	HSAFX
HSDVX	0.51		-0.1	0.03	0.37	0.41	0.27	0.34	0.6	0.77	HSDVX
HSGFX	-0.05	-0.1		0.46	-0.57	-0.55	-0.52	-0.6	-0.45	-0.02	HSGFX
HSTRX	-0.03	0.03	0.46		-0.45	-0.45	-0.44	-0.35	-0.22	-0.02	HSTRX
DFSVX	0.71	0.37	-0.57	-0.45		0.9	0.88	0.92	0.9	0.2	DFSVX
WCPSX	0.76	0.41	-0.55	-0.45	0.9		0.91	0.95	0.88	0.24	WCPSX
CRF	0.75	0.27	-0.52	-0.44	0.88	0.91		0.92	0.84	0.22	CRF
PLFIX	0.76	0.34	-0.6	-0.35	0.92	0.95	0.92		0.89	0.22	PLFIX
GAB	0.83	0.6	-0.45	-0.22	0.9	0.88	0.84	0.89		0.46	GAB
HYMAX	0.42	0.77	-0.02	-0.02	0.2	0.24	0.22	0.22	0.46		HYMAX
	HSAFX	HSDVX	HSGFX	HSTRX	DFSVX	WCPSX	CRF	PLFIX	GAB	HYMAX

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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

PLFIX	+ 0.95	WCPSX
PLFIX	+ 0.92	DFSVX
PLFIX	+ 0.92	CRF
CRF	+ 0.91	WCPSX
WCPSX	+ 0.9	DFSVX
GAB	+ 0.9	DFSVX

High negative correlations

PLFIX	- 0.6	HSGFX
DFSVX	- 0.57	HSGFX
WCPSX	- 0.55	HSGFX
CRF	- 0.52	HSGFX
WCPSX	- 0.45	HSTRX
DFSVX	- 0.45	HSTRX

Risk-Adjusted Indicators

There is a big difference between Hussman Mutual Fund performing well and Hussman Strategic 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 Hussman Strategic'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
HSAFX	0.25	0.01	(0.21)	0.21	0.22	(0.32)	0.65	(0.43)	1.71
HSDVX	0.07	(0.01)	(0.70)	0.54	0.06	(0.14)	0.10	(0.10)	0.63
HSGFX	0.47	(0.05)	0.00	(0.43)	0.00	0.00	0.72	(0.90)	5.51
HSTRX	0.30	(0.02)	0.00	8.62	0.00	0.00	0.62	(0.48)	1.91
DFSVX	0.86	0.01	0.07	0.10	0.68	(1.10)	1.93	(1.36)	8.30
WCPSX	0.89	0.27	0.19	0.41	0.87	(1.02)	2.02	(1.77)	7.05
CRF	0.88	0.17	0.05	0.36	1.76	(0.97)	1.94	(1.32)	10.78
PLFIX	0.47	0.05	0.04	0.16	0.44	(0.52)	0.96	(0.92)	3.82
GAB	0.63	(0.01)	(0.03)	0.08	0.88	(0.62)	1.12	(1.26)	3.28
HYMAX	0.15	0.00	(0.25)	0.10	0.26	(0.19)	0.37	(0.36)	1.54

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