Hotchkis Wiley Correlations

HWCIX Fund

USD 34.22 0.03 0.09%

The current 90-days correlation between Hotchkis Wiley Diver and Dodge Cox Stock is 0.94 (i.e., Almost no 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 Diversified and DJI is 0.89 (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 Diversified 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 Diversified. 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 Hotchkis Mutual Fund

0.97	HWAAX	Hotchkis Wiley Value	Pair Corr
0.97	HWACX	Hotchkis Wiley Value	Pair Corr
0.97	HWAIX	Hotchkis Wiley Value	Pair Corr
1.0	HWCAX	Hotchkis Wiley Diver	Pair Corr
0.62	HWHAX	Hotchkis Wiley High	Pair Corr
0.77	HWGAX	Hotchkis Wiley Global	Pair Corr
0.65	HWHIX	Hotchkis Wiley High	Pair Corr
0.64	HWHZX	Hotchkis Wiley High	Pair Corr
1.0	HWLAX	Hotchkis Wiley Large	Pair Corr
1.0	HWLIX	Hotchkis Wiley Large	Pair Corr
1.0	HWLZX	Hotchkis Wiley Large	Pair Corr
0.9	HWMIX	Hotchkis Wiley Mid	Pair Corr
0.97	HWSAX	Hotchkis And Wiley	Pair Corr
0.97	HWSCX	Hotchkis Wiley Small	Pair Corr
0.97	HWSIX	Hotchkis Wiley Small	Pair Corr
0.97	HWSZX	Hotchkis Wiley Small	Pair Corr
0.94	HWVIX	Hotchkis Wiley Small	Pair Corr
0.95	HWVZX	Hotchkis Wiley Small	Pair Corr
0.94	HWVAX	Hotchkis Wiley Small	Pair Corr
0.92	VVIAX	Vanguard Value Index	Pair Corr
0.98	DOXGX	Dodge Cox Stock	Pair Corr
0.82	AFMFX	American Mutual	Pair Corr
0.82	FFMMX	American Funds American	Pair Corr
0.82	FFFMX	American Funds American	Pair Corr
0.82	AMRMX	American Mutual	Pair Corr
0.81	AMFFX	American Mutual	Pair Corr
0.81	AMFCX	American Mutual	Pair Corr
0.98	DODGX	Dodge Stock Fund	Pair Corr
0.92	VIVAX	Vanguard Value Index	Pair Corr
0.93	VSTSX	Vanguard Total Stock	Pair Corr
0.93	VSMPX	Vanguard Total Stock	Pair Corr
0.93	VITSX	Vanguard Total Stock	Pair Corr
0.91	VFFSX	Vanguard 500 Index	Pair Corr
0.91	VFIAX	Vanguard 500 Index	Pair Corr

Moving against Hotchkis Mutual Fund

0.56	HWTIX	Hotchkis Wiley Inter	Pair Corr
0.49	HWNIX	Hotchkis And Wiley	Pair Corr
0.31	VTISX	Vanguard Total Inter	Pair Corr
0.31	VTSNX	Vanguard Total Inter	Pair Corr
0.31	VTPSX	Vanguard Total Inter	Pair Corr

Related Correlations Analysis

	DOXGX	AFMFX	FFMMX	FFFMX	AMRMX	AMFFX	AMFCX	DODGX	VIVAX
DOXGX		0.87	0.87	0.87	0.87	0.87	0.86	1.0	0.95	DOXGX
AFMFX	0.87		1.0	1.0	1.0	1.0	1.0	0.87	0.96	AFMFX
FFMMX	0.87	1.0		1.0	1.0	1.0	1.0	0.87	0.96	FFMMX
FFFMX	0.87	1.0	1.0		1.0	1.0	1.0	0.87	0.96	FFFMX
AMRMX	0.87	1.0	1.0	1.0		1.0	1.0	0.87	0.96	AMRMX
AMFFX	0.87	1.0	1.0	1.0	1.0		1.0	0.87	0.95	AMFFX
AMFCX	0.86	1.0	1.0	1.0	1.0	1.0		0.86	0.95	AMFCX
DODGX	1.0	0.87	0.87	0.87	0.87	0.87	0.86		0.95	DODGX
VIVAX	0.95	0.96	0.96	0.96	0.96	0.95	0.95	0.95		VIVAX
	DOXGX	AFMFX	FFMMX	FFFMX	AMRMX	AMFFX	AMFCX	DODGX	VIVAX

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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
DOXGX	0.52	(0.01)	(0.05)	0.10	0.44	(0.59)	0.94	(0.93)	4.22
AFMFX	0.46	(0.02)	(0.11)	0.09	0.43	(0.52)	0.90	(0.86)	2.68
FFMMX	0.46	(0.02)	(0.11)	0.09	0.43	(0.52)	0.90	(0.86)	2.66
FFFMX	0.45	(0.02)	(0.11)	0.09	0.42	(0.52)	0.90	(0.86)	2.68
AMRMX	0.46	(0.02)	(0.12)	0.08	0.43	(0.52)	0.91	(0.86)	2.66
AMFFX	0.46	(0.02)	(0.12)	0.08	0.43	(0.52)	0.90	(0.86)	2.68
AMFCX	0.46	(0.02)	(0.12)	0.08	0.43	(0.52)	0.90	(0.88)	2.68
DODGX	0.52	(0.01)	(0.05)	0.10	0.44	(0.59)	0.94	(0.94)	4.22
VIVAX	0.51	0.00	(0.05)	0.11	0.39	(0.62)	1.05	(0.83)	3.45

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