Hcm Dynamic Correlations

HCMBX Fund

USD 10.77 0.07 0.65%

The current 90-days correlation between Hcm Dynamic Income and Hcm Income Plus is 0.69 (i.e., Poor 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 poor diversification

The correlation between Hcm Dynamic Income and DJI is 0.82 (i.e., Very poor 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 bureau of labor statistics.

Moving together with Hcm Mutual Fund

0.64	HCMPX	Hcm Dividend Sector	Pair Corr
0.73	HCMQX	Hcm Dividend Sector	Pair Corr
0.94	HCMUX	Hcm Dynamic Income	Pair Corr
0.72	HCMWX	Hcm Dividend Sector	Pair Corr
0.74	HCMZX	Hcm Dividend Sector	Pair Corr
1.0	HCMFX	Hcm Dynamic Income	Pair Corr
0.63	HCMNX	Hcm Dividend Sector	Pair Corr
0.92	BSICX	Blackrock Strategic Opps	Pair Corr
0.91	BASIX	Blackrock Strategic Opps	Pair Corr
0.91	BSIIX	Blackrock Strategic	Pair Corr
0.9	BSIKX	Blackrock Strategic	Pair Corr
0.8	PMZNX	Pimco Mortgage Oppor	Pair Corr
0.8	PMZCX	Pimco Mortgage Oppor	Pair Corr
0.8	PMZAX	Pimco Mortgage Oppor	Pair Corr
0.89	JSORX	Jpmorgan Strategic Income	Pair Corr
0.89	JSOZX	Jpmorgan Strategic Income	Pair Corr
0.9	JSOCX	Jpmorgan Strategic Income	Pair Corr
0.61	VTSAX	Vanguard Total Stock	Pair Corr
0.62	VFIAX	Vanguard 500 Index	Pair Corr
0.7	VTSMX	Vanguard Total Stock	Pair Corr
0.61	VSTSX	Vanguard Total Stock	Pair Corr
0.7	VSMPX	Vanguard Total Stock	Pair Corr
0.7	VITSX	Vanguard Total Stock	Pair Corr
0.94	VTIAX	Vanguard Total Inter	Pair Corr
0.62	VFINX	Vanguard 500 Index	Pair Corr
0.71	VBTLX	Vanguard Total Bond	Pair Corr
0.92	SEMVX	Hartford Schroders	Pair Corr
0.86	TGREX	Tcw Global Real	Pair Corr
0.88	MVSSX	Victory Integrity Small	Pair Corr
0.95	AMIDX	Amana Developing World	Pair Corr
0.75	ARTNX	Artisan Select Equity	Pair Corr

Moving against Hcm Mutual Fund

0.37	HCMDX	Hcm Tactical Growth	Pair Corr
0.35	HCMIX	Hcm Tactical Growth	Pair Corr

Related Correlations Analysis

	HCMPX	HCMQX	HCMSX	HCMWX	HCMZX	HCMDX	HCMEX
HCMPX		0.99	0.65	0.99	0.98	0.38	0.8	HCMPX
HCMQX	0.99		0.6	1.0	1.0	0.26	0.83	HCMQX
HCMSX	0.65	0.6		0.61	0.59	0.87	0.83	HCMSX
HCMWX	0.99	1.0	0.61		1.0	0.27	0.84	HCMWX
HCMZX	0.98	1.0	0.59	1.0		0.23	0.84	HCMZX
HCMDX	0.38	0.26	0.87	0.27	0.23		0.45	HCMDX
HCMEX	0.8	0.83	0.83	0.84	0.84	0.45		HCMEX
	HCMPX	HCMQX	HCMSX	HCMWX	HCMZX	HCMDX	HCMEX

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	0.80	(0.03)	(0.02)	0.01	1.09	(0.85)	1.28	(1.95)	5.76
HCMQX	0.81	(0.02)	(0.01)	0.02	1.10	(0.84)	1.27	(1.93)	5.73
HCMSX	1.14	(0.06)	0.00	(0.01)	0.00	0.00	2.10	(2.82)	6.73
HCMWX	0.82	(0.02)	(0.01)	0.02	1.12	(0.82)	1.29	(1.95)	5.76
HCMZX	0.81	(0.02)	(0.01)	0.02	1.12	(0.82)	1.29	(1.92)	5.73
HCMDX	1.10	(0.10)	0.00	(0.04)	0.00	0.00	2.06	(2.82)	6.72
HCMEX	0.77	(0.01)	(0.01)	0.03	1.05	(0.76)	1.37	(1.84)	6.10

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