Alphacentric Hedged Correlations
HMXAX Fund | USD 28.01 0.36 1.30% |
The current 90-days correlation between Alphacentric Hedged and Alphacentric Hedged Market is 1.0 (i.e., No risk reduction). The correlation of Alphacentric Hedged 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.
Alphacentric Hedged Correlation With Market
Very weak diversification
The correlation between Alphacentric Hedged Market and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alphacentric Hedged Market and DJI in the same portfolio, assuming nothing else is changed.
Alphacentric |
Moving together with Alphacentric Mutual Fund
1.0 | HMXCX | Alphacentric Hedged | PairCorr |
1.0 | HMXIX | Alphacentric Hedged | PairCorr |
0.67 | SYMAX | Alphacentric Symmetry | PairCorr |
0.65 | SYMCX | Alphacentric Symmetry | PairCorr |
0.67 | SYMIX | Alphacentric Symmetry | PairCorr |
0.78 | SIICX | Alphacentric Strategic | PairCorr |
0.77 | SIIIX | Alphacentric Strategic | PairCorr |
0.91 | JHQCX | Jpmorgan Hedged Equity | PairCorr |
0.92 | JHEQX | Jpmorgan Hedged Equity | PairCorr |
0.92 | JHQAX | Jpmorgan Hedged Equity | PairCorr |
0.98 | GTENX | Gateway Fund Class | PairCorr |
0.99 | GTECX | Gateway Fund Class | PairCorr |
0.98 | GTEYX | Gateway Fund Class | PairCorr |
0.98 | GATEX | Gateway Fund Class | PairCorr |
0.79 | JHDCX | Jpmorgan Hedged Equity | PairCorr |
0.76 | JHDRX | Jpmorgan Hedged Equity | PairCorr |
0.79 | JHDAX | Jpmorgan Hedged Equity | PairCorr |
0.89 | VTRSX | Voya Target Retirement | PairCorr |
Related Correlations Analysis
0.19 | 1.0 | 0.51 | 0.46 | HMXIX | ||
0.19 | 0.2 | 0.01 | 0.13 | MBXAX | ||
1.0 | 0.2 | 0.53 | 0.46 | HMXCX | ||
0.51 | 0.01 | 0.53 | 0.79 | HFSAX | ||
0.46 | 0.13 | 0.46 | 0.79 | HRSAX | ||
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Risk-Adjusted Indicators
There is a big difference between Alphacentric Mutual Fund performing well and Alphacentric Hedged 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 Alphacentric Hedged'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 | ||
---|---|---|---|---|---|---|---|---|---|---|
HMXIX | 0.52 | 0.00 | 0.00 | (0.03) | 0.00 | 0.88 | 3.18 | |||
MBXAX | 0.38 | (0.04) | 0.00 | (0.49) | 0.00 | 0.79 | 2.63 | |||
HMXCX | 0.52 | (0.01) | 0.00 | (0.04) | 0.00 | 0.90 | 3.20 | |||
HFSAX | 0.21 | 0.01 | 0.07 | 0.01 | 0.30 | 0.38 | 1.43 | |||
HRSAX | 0.05 | (0.01) | 0.04 | (0.10) | 0.12 | 0.12 | 0.77 |