Hennessy Gas Correlations

GASFX Fund

USD 29.86 0.37 1.22%

The current 90-days correlation between Hennessy Gas Utility and Ultra Short Fixed Income is 0.01 (i.e., Significant diversification). The correlation of Hennessy Gas 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.

Hennessy Gas Correlation With Market

Weak diversification

The correlation between Hennessy Gas Utility and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hennessy Gas Utility 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 Hennessy Gas Utility. 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 price.

Moving together with Hennessy Mutual Fund

0.65	HBFBX	Hennessy Balanced	Pair Corr
1.0	HGASX	Hennessy Gas Utility	Pair Corr
0.82	FKUTX	Franklin Utilities	Pair Corr
0.77	FRUSX	Franklin Utilities	Pair Corr
0.77	FKUQX	Franklin Utilities	Pair Corr
0.82	FRUAX	Franklin Utilities	Pair Corr
0.81	FRURX	Franklin Utilities	Pair Corr
0.82	FUFRX	Franklin Utilities	Pair Corr
0.74	VUIAX	Vanguard Utilities Index	Pair Corr
0.79	MMUGX	Mfs Utilities	Pair Corr
0.79	MURRX	Mfs Utilities	Pair Corr
0.74	MMUJX	Mfs Utilities	Pair Corr

Moving against Hennessy Mutual Fund

0.33	HISFX	Hennessy Small Cap	Pair Corr
0.33	HSFNX	Hennessy Small Cap	Pair Corr

Related Correlations Analysis

	SWSFX	TSDCX	DIAYX	CDICX	FOSIX	ATOAX	TASTX
SWSFX		0.87	0.79	0.77	0.8	0.9	0.8	SWSFX
TSDCX	0.87		0.83	0.9	0.94	0.96	0.95	TSDCX
DIAYX	0.79	0.83		0.79	0.8	0.81	0.81	DIAYX
CDICX	0.77	0.9	0.79		0.99	0.88	0.98	CDICX
FOSIX	0.8	0.94	0.8	0.99		0.91	0.98	FOSIX
ATOAX	0.9	0.96	0.81	0.88	0.91		0.92	ATOAX
TASTX	0.8	0.95	0.81	0.98	0.98	0.92		TASTX
	SWSFX	TSDCX	DIAYX	CDICX	FOSIX	ATOAX	TASTX

Risk-Adjusted Indicators

There is a big difference between Hennessy Mutual Fund performing well and Hennessy Gas 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 Hennessy Gas' 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
SWSFX	0.04	0.00	(0.43)	0.21	0.00	(0.18)	0.10	(0.10)	0.49
TSDCX	0.04	0.00	0.00	0.00	0.00	0.00	0.11	(0.11)	0.44
DIAYX	0.30	0.06	0.03	1.30	0.19	(0.31)	0.65	(0.48)	1.85
CDICX	0.08	0.00	(0.44)	0.19	0.00	(0.12)	0.19	(0.13)	0.51
FOSIX	0.08	0.01	(0.32)	0.33	0.00	(0.14)	0.11	(0.11)	0.55
ATOAX	0.03	0.01	0.00	(1.58)	0.00	0.00	0.20	0.00	0.30
TASTX	0.07	0.01	(0.32)	0.99	0.00	(0.15)	0.10	(0.10)	0.61

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC