Alphacentric Hedged Correlations

HMXAX Fund

USD 27.30 0.04 0.15%

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

Poor diversification

The correlation between Alphacentric Hedged Market and DJI is 0.78 (i.e., Poor 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.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Alphacentric Hedged Market. 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 nation.

Moving together with Alphacentric Mutual Fund

1.0	HMXCX	Alphacentric Hedged	Pair Corr
1.0	HMXIX	Alphacentric Hedged	Pair Corr
0.93	SYMAX	Alphacentric Symmetry	Pair Corr
0.93	SYMCX	Alphacentric Symmetry	Pair Corr
0.93	SYMIX	Alphacentric Symmetry	Pair Corr
0.94	GNXAX	Alphacentric Global	Pair Corr
0.98	JHQCX	Jpmorgan Hedged Equity	Pair Corr
0.98	JHEQX	Jpmorgan Hedged Equity	Pair Corr
0.98	JHQAX	Jpmorgan Hedged Equity	Pair Corr
0.99	GTENX	Gateway Fund Class	Pair Corr
0.99	GTECX	Gateway Fund Class	Pair Corr
0.99	GTEYX	Gateway Fund Class	Pair Corr
0.99	GATEX	Gateway Fund Class	Pair Corr
0.94	JHDCX	Jpmorgan Hedged Equity	Pair Corr
0.92	JHDRX	Jpmorgan Hedged Equity	Pair Corr
0.93	JHDAX	Jpmorgan Hedged Equity	Pair Corr
0.71	SMPIX	Semiconductor Ultrasector	Pair Corr
0.67	SMPSX	Semiconductor Ultrasector	Pair Corr

Moving against Alphacentric Mutual Fund

0.61	USGDX	Morgan Stanley Government	Pair Corr
0.56	HRBDX	Harbor Bond Fund	Pair Corr
0.55	ABNOX	Ab Bond Inflation	Pair Corr
0.51	VICSX	Vanguard Intermediate-ter	Pair Corr
0.43	GIOIX	Guggenheim Macro Opp	Pair Corr
0.38	UTF	Cohen And Steers	Pair Corr
0.35	SGDLX	Sprott Gold Equity	Pair Corr

Related Correlations Analysis

	HMXIX	MBXAX	HMXCX	HFSAX	HRSAX
HMXIX		0.77	1.0	0.03	-0.53	HMXIX
MBXAX	0.77		0.78	-0.31	-0.58	MBXAX
HMXCX	1.0	0.78		0.01	-0.54	HMXCX
HFSAX	0.03	-0.31	0.01		0.64	HFSAX
HRSAX	-0.53	-0.58	-0.54	0.64		HRSAX
	HMXIX	MBXAX	HMXCX	HFSAX	HRSAX

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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

HMXCX	+ 1.0	HMXIX
HMXCX	+ 0.78	MBXAX
MBXAX	+ 0.77	HMXIX
HRSAX	+ 0.64	HFSAX
HFSAX	+ 0.03	HMXIX
HFSAX	+ 0.01	HMXCX

High negative correlations

HRSAX	- 0.58	MBXAX
HRSAX	- 0.54	HMXCX
HRSAX	- 0.53	HMXIX
HFSAX	- 0.31	MBXAX

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	0.66	(0.08)	0.00	(0.10)	0.00	0.00	1.25	(1.56)	3.13
MBXAX	0.50	(0.03)	0.00	(0.09)	0.00	0.00	1.03	(1.11)	3.36
HMXCX	0.67	(0.08)	0.00	(0.10)	0.00	0.00	1.27	(1.57)	3.18
HFSAX	0.20	(0.01)	(0.03)	(0.06)	0.33	(0.17)	0.34	(0.46)	1.01
HRSAX	0.06	(0.01)	(0.03)	0.69	0.13	(0.10)	0.12	(0.18)	0.71

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