Hotchkis Wiley Correlations

HWTIX Fund

USD 12.35 0.06 0.49%

The current 90-days correlation between Hotchkis Wiley Inter and Delaware Limited Term Diversified is 0.09 (i.e., Significant 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 weak diversification

The correlation between Hotchkis Wiley International and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hotchkis Wiley International 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 International. 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

0.86	HWNIX	Hotchkis And Wiley	Pair Corr
0.96	DISVX	Dfa International Small	Pair Corr
0.98	DFVQX	Dfa International Vector	Pair Corr
0.94	FMNEX	Free Market International	Pair Corr
0.92	OANEX	Oakmark International	Pair Corr
0.92	OAZEX	Oakmark International	Pair Corr
0.92	OAKEX	Oakmark International	Pair Corr
0.92	OAYEX	Oakmark International	Pair Corr
0.83	GAAVX	Gmo Alternative Allo	Pair Corr
0.77	GABFX	Gmo Asset Allocation	Pair Corr

Moving against Hotchkis Mutual Fund

0.57	HWLAX	Hotchkis Wiley Large	Pair Corr
0.57	HWLIX	Hotchkis Wiley Large	Pair Corr
0.57	HWLZX	Hotchkis Wiley Large	Pair Corr
0.56	HWCIX	Hotchkis Wiley Diver	Pair Corr
0.55	HWCAX	Hotchkis Wiley Diver	Pair Corr
0.54	HWAAX	Hotchkis Wiley Value	Pair Corr
0.54	HWAIX	Hotchkis Wiley Value	Pair Corr
0.53	HWACX	Hotchkis Wiley Value	Pair Corr
0.53	HWVIX	Hotchkis Wiley Small	Pair Corr
0.53	HWVZX	Hotchkis Wiley Small	Pair Corr
0.49	HWSIX	Hotchkis Wiley Small	Pair Corr
0.49	HWSZX	Hotchkis Wiley Small	Pair Corr
0.48	HWSAX	Hotchkis And Wiley	Pair Corr
0.48	HWSCX	Hotchkis Wiley Small	Pair Corr
0.32	HWHIX	Hotchkis Wiley High	Pair Corr
0.32	HWHZX	Hotchkis Wiley High	Pair Corr
0.66	IMOPX	Voya Midcap Opportunities	Pair Corr
0.53	HWVAX	Hotchkis Wiley Small	Pair Corr
0.52	GCAVX	Gmo Small Cap	Pair Corr
0.5	GMCQX	Gmo Equity Allocation	Pair Corr
0.46	PCF	Putnam High Income	Pair Corr
0.46	AMVYX	Mid Cap Value	Pair Corr

Related Correlations Analysis

	DTICX	ACDOX	LIGFX	SIGWX	TBDQX	FZABX	DSCPX
DTICX		0.77	0.07	-0.29	-0.3	0.4	-0.32	DTICX
ACDOX	0.77		-0.33	-0.61	-0.7	0.57	-0.64	ACDOX
LIGFX	0.07	-0.33		0.86	0.87	0.0	0.82	LIGFX
SIGWX	-0.29	-0.61	0.86		0.86	-0.35	0.99	SIGWX
TBDQX	-0.3	-0.7	0.87	0.86		-0.18	0.83	TBDQX
FZABX	0.4	0.57	0.0	-0.35	-0.18		-0.41	FZABX
DSCPX	-0.32	-0.64	0.82	0.99	0.83	-0.41		DSCPX
	DTICX	ACDOX	LIGFX	SIGWX	TBDQX	FZABX	DSCPX

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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

DSCPX	+ 0.99	SIGWX
TBDQX	+ 0.87	LIGFX
SIGWX	+ 0.86	LIGFX
TBDQX	+ 0.86	SIGWX
DSCPX	+ 0.83	TBDQX
DSCPX	+ 0.82	LIGFX

High negative correlations

TBDQX	- 0.7	ACDOX
DSCPX	- 0.64	ACDOX
SIGWX	- 0.61	ACDOX
DSCPX	- 0.41	FZABX
FZABX	- 0.35	SIGWX
LIGFX	- 0.33	ACDOX

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
DTICX	0.07	0.00	(0.74)	0.14	0.04	(0.15)	0.13	(0.13)	0.64
ACDOX	0.23	(0.01)	0.00	0.34	0.00	0.00	0.44	(0.54)	1.39
LIGFX	0.25	(0.01)	(0.30)	0.07	0.21	(0.29)	0.55	(0.50)	1.23
SIGWX	0.75	(0.02)	0.01	0.10	0.83	(0.86)	1.53	(1.38)	7.02
TBDQX	0.75	(0.02)	(0.02)	0.09	1.10	(0.68)	1.67	(2.39)	5.04
FZABX	0.68	(0.15)	0.00	(0.11)	0.00	0.00	1.13	(1.71)	4.32
DSCPX	0.82	(0.02)	0.01	0.10	0.77	(0.95)	1.74	(1.43)	6.20

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