Huber Capital Correlations

HUSEX Fund

USD 29.60 0.45 1.50%

The current 90-days correlation between Huber Capital Small and Chase Growth Fund is 0.34 (i.e., Weak diversification). The correlation of Huber Capital 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.

Huber Capital Correlation With Market

Poor diversification

The correlation between Huber Capital Small and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Huber Capital Small 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 Huber Capital Small. 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 services.

Moving together with Huber Mutual Fund

0.84	HUDEX	Huber Capital Diversified	Pair Corr
0.84	HUDIX	Huber Capital Diversified	Pair Corr
0.72	HULEX	Huber Capital Equity	Pair Corr
0.84	HUMDX	Huber Capital Mid	Pair Corr
1.0	HUSIX	Huber Capital Small	Pair Corr
0.87	VSIIX	Vanguard Small Cap	Pair Corr
0.87	VISVX	Vanguard Small Cap	Pair Corr
0.89	DFSVX	Us Small Cap	Pair Corr
0.92	DFFVX	Us Targeted Value	Pair Corr
0.76	VSMCX	Invesco Small Cap	Pair Corr

Moving against Huber Mutual Fund

0.52	DMBZX	Dreyfus Municipal Bond	Pair Corr
0.42	NHCCX	Nuveen High Yield	Pair Corr
0.31	JAGLX	Janus Global Life	Pair Corr
0.47	SHMMX	Western Asset Managed	Pair Corr
0.42	TWTIX	Intermediate Term Tax	Pair Corr

Related Correlations Analysis

	CHASX	TIMPX	EICVX	FMTIX	PARCX	AUXIX	TMSRX	CMACX
CHASX		0.52	0.05	0.43	0.41	-0.16	0.57	0.44	CHASX
TIMPX	0.52		-0.1	0.34	0.38	0.15	0.42	0.46	TIMPX
EICVX	0.05	-0.1		-0.48	-0.38	-0.07	-0.5	-0.33	EICVX
FMTIX	0.43	0.34	-0.48		0.84	0.35	0.77	0.82	FMTIX
PARCX	0.41	0.38	-0.38	0.84		0.62	0.77	0.99	PARCX
AUXIX	-0.16	0.15	-0.07	0.35	0.62		0.24	0.63	AUXIX
TMSRX	0.57	0.42	-0.5	0.77	0.77	0.24		0.75	TMSRX
CMACX	0.44	0.46	-0.33	0.82	0.99	0.63	0.75		CMACX
	CHASX	TIMPX	EICVX	FMTIX	PARCX	AUXIX	TMSRX	CMACX

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

CMACX	+ 0.99	PARCX
PARCX	+ 0.84	FMTIX
CMACX	+ 0.82	FMTIX
TMSRX	+ 0.77	FMTIX
TMSRX	+ 0.77	PARCX
CMACX	+ 0.75	TMSRX

High negative correlations

TMSRX	- 0.5	EICVX
FMTIX	- 0.48	EICVX
PARCX	- 0.38	EICVX
CMACX	- 0.33	EICVX
AUXIX	- 0.16	CHASX
EICVX	- 0.1	TIMPX

Risk-Adjusted Indicators

There is a big difference between Huber Mutual Fund performing well and Huber Capital 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 Huber Capital'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
CHASX	1.00	(0.13)	0.00	(0.03)	0.00	0.00	1.94	(2.72)	11.50
TIMPX	0.15	0.00	(0.38)	(0.59)	0.14	(0.20)	0.33	(0.33)	0.98
EICVX	0.65	(0.12)	0.00	(0.47)	0.00	0.00	1.32	(1.11)	9.51
FMTIX	0.34	0.05	(0.05)	2.24	0.45	(0.34)	0.72	(0.76)	2.14
PARCX	0.33	0.02	(0.10)	0.23	0.47	(0.32)	0.74	(0.70)	1.98
AUXIX	0.45	0.03	(0.05)	0.19	0.44	(0.51)	1.05	(0.89)	2.29
TMSRX	0.10	(0.01)	(0.29)	0.02	0.07	(0.16)	0.23	(0.23)	0.91
CMACX	0.36	0.01	(0.10)	0.17	0.47	(0.36)	0.80	(0.75)	1.98

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