Hennessy Capital Correlations

HCVI Stock  USD 10.76  0.01  0.09%   
The correlation of Hennessy 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.

Hennessy Capital Correlation With Market

Good diversification

The correlation between Hennessy Capital Investment and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hennessy Capital Investment 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 Capital Investment. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with Hennessy Stock

  0.7V Visa Class APairCorr
  0.67MA MastercardPairCorr
  0.66FDUS Fidus Investment CorpPairCorr
  0.72COF Capital One FinancialPairCorr
  0.68DFS Discover FinancialPairCorr
  0.61NMFC New Mountain FinancePairCorr
  0.69NTRS Northern TrustPairCorr
  0.61C CitigroupPairCorr
  0.64AC Associated CapitalPairCorr
  0.72BK Bank of New YorkPairCorr

Moving against Hennessy Stock

  0.61PYPL PayPal HoldingsPairCorr
  0.48AMG Affiliated ManagersPairCorr
  0.44FHI Federated InvestorsPairCorr
  0.33DHIL Diamond Hill InvestmentPairCorr
  0.31AMTD AMTD IDEA GroupPairCorr
  0.59LC LendingClub CorpPairCorr
  0.48IX Orix Corp AdsPairCorr
  0.44CM Canadian Imperial BankPairCorr
  0.38EG Everest GroupPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
CPAASGII
JGGCSGII
ADOCSGII
GPACSGII
GENQSGII
OPASGII
  
High negative correlations   
LGVCITAQ
LGVCDTOC
ITAQDTOC
LGVCOPA
ITAQOPA
DTOCOPA

Risk-Adjusted Indicators

There is a big difference between Hennessy Stock performing well and Hennessy Capital Company 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 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SGII  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
CPAA  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
JGGC  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
ADOC  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
GPAC  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
GENQ  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
OPA  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
DTOC  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
ITAQ  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
LGVC  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 

Hennessy Capital Corporate Executives

Elected by the shareholders, the Hennessy Capital's board of directors comprises two types of representatives: Hennessy Capital inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Hennessy. The board's role is to monitor Hennessy Capital's management team and ensure that shareholders' interests are well served. Hennessy Capital's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Hennessy Capital's outside directors are responsible for providing unbiased perspectives on the board's policies.