Heartland Mid Correlations

HNMDX Fund

USD 13.45 0.09 0.66%

The current 90-days correlation between Heartland Mid Cap and Ab Relative Value is 0.8 (i.e., Very poor diversification). The correlation of Heartland Mid 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.

Heartland Mid Correlation With Market

Poor diversification

The correlation between Heartland Mid Cap and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Heartland Mid Cap 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 Heartland Mid Cap. 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 unemployment.

Moving together with Heartland Mutual Fund

0.75	FLPKX	Fidelity Low Priced	Pair Corr
0.75	FLPSX	Fidelity Low Priced	Pair Corr
0.67	VMVAX	Vanguard Mid Cap	Pair Corr
0.82	VMVIX	Vanguard Mid Cap	Pair Corr
0.71	JMVZX	Jpmorgan Mid Cap	Pair Corr
0.72	JMVRX	Jpmorgan Mid Cap	Pair Corr
0.72	JMVQX	Jpmorgan Mid Cap	Pair Corr
0.72	JMVYX	Jpmorgan Mid Cap	Pair Corr
0.61	AABJX	American Century One	Pair Corr

Moving against Heartland Mutual Fund

0.44	USPSX	Profunds Ultrashort	Pair Corr
0.41	TDKTX	Cleartrack 2015 Class	Pair Corr
0.4	TCTGX	Transamerica Cleartrack	Pair Corr
0.53	UIPIX	Ultrashort Mid Cap	Pair Corr
0.43	USPIX	Profunds Ultrashort	Pair Corr
0.4	TCTJX	Transamerica Cleartrack	Pair Corr
0.33	TCSUX	Cleartrack 2020 Class	Pair Corr

Related Correlations Analysis

	CBBYX	DHLTX	FSEIX	WFMIX	FVLZX
CBBYX		0.62	0.72	0.63	0.54	CBBYX
DHLTX	0.62		0.95	0.95	0.98	DHLTX
FSEIX	0.72	0.95		0.94	0.94	FSEIX
WFMIX	0.63	0.95	0.94		0.94	WFMIX
FVLZX	0.54	0.98	0.94	0.94		FVLZX
	CBBYX	DHLTX	FSEIX	WFMIX	FVLZX

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Risk-Adjusted Indicators

There is a big difference between Heartland Mutual Fund performing well and Heartland Mid 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 Heartland Mid'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
CBBYX	0.65	0.01	(0.06)	0.96	(1.26)	3.07
DHLTX	0.83	(0.07)	(0.14)	1.47	(2.13)	3.94
FSEIX	0.85	(0.11)	(0.19)	1.33	(1.85)	4.22
WFMIX	0.68	(0.05)	(0.14)	1.18	(1.27)	3.07
FVLZX	0.82	(0.08)	(0.15)	1.45	(2.02)	3.89

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