Homestead Intermediate Correlations

HOIBX Fund

USD 4.56 0.01 0.22%

The current 90-days correlation between Homestead Intermediate and Us Government Securities is 0.06 (i.e., Significant diversification). The correlation of Homestead Intermediate 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.

Homestead Intermediate Correlation With Market

Average diversification

The correlation between Homestead Intermediate Bond and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Homestead Intermediate Bond 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 Homestead Intermediate Bond. 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 bureau of labor statistics.

Moving together with Homestead Mutual Fund

0.75	HISIX	International Equity	Pair Corr
0.71	HOSBX	Short Term Bond	Pair Corr
0.8	HOSGX	Short Term Government	Pair Corr
0.84	VBTLX	Vanguard Total Bond	Pair Corr
0.84	VBMFX	Vanguard Total Bond	Pair Corr
0.86	VBTIX	Vanguard Total Bond	Pair Corr
0.86	VTBSX	Vanguard Total Bond	Pair Corr
0.86	VTBIX	Vanguard Total Bond	Pair Corr
0.86	VTBNX	Vanguard Total Bond	Pair Corr
0.85	FBOFX	American Funds	Pair Corr
0.85	FFBOX	American Funds	Pair Corr
0.85	BFAFX	Bond Fund	Pair Corr
0.85	ABNDX	Bond Fund	Pair Corr
0.88	PDSQX	Prudential Short Duration	Pair Corr
0.83	RGVCX	Us Government Securities	Pair Corr
0.85	FAEDX	Faedx	Pair Corr
0.82	SWRSX	Schwab Treasury Inflation	Pair Corr
0.65	MQY	Blackrock Muniyield	Pair Corr
0.9	PCCRX	Pimco Credit Absolute	Pair Corr
0.87	SSTHX	Wells Fargo Short	Pair Corr
0.84	CRANX	Community Reinvestment	Pair Corr
1.0	DPRFX	Delaware Diversified	Pair Corr
0.92	LASNX	Loomis Sayles Strategic	Pair Corr
0.82	IOEBX	Ioebx	Pair Corr

Moving against Homestead Mutual Fund

0.71	HSCSX	Small-company Stock	Pair Corr
0.51	HNASX	Growth Fund Growth	Pair Corr
0.4	HSTIX	Stock Index Fund	Pair Corr

Related Correlations Analysis

	RGVCX	GANPX	HCSBX	LCPMX	BMBSX	GABTX
RGVCX		0.89	0.69	0.65	0.83	0.46	RGVCX
GANPX	0.89		0.8	0.86	0.9	0.6	GANPX
HCSBX	0.69	0.8		0.8	0.85	0.74	HCSBX
LCPMX	0.65	0.86	0.8		0.87	0.5	LCPMX
BMBSX	0.83	0.9	0.85	0.87		0.65	BMBSX
GABTX	0.46	0.6	0.74	0.5	0.65		GABTX
	RGVCX	GANPX	HCSBX	LCPMX	BMBSX	GABTX

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Risk-Adjusted Indicators

There is a big difference between Homestead Mutual Fund performing well and Homestead Intermediate 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 Homestead Intermediate'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
RGVCX	0.24	0.03	0.11	1.99	0.15	(0.29)	0.51	(0.42)	1.38
GANPX	0.06	0.00	0.02	(0.02)	0.00	(0.12)	0.10	(0.10)	0.48
HCSBX	0.05	(0.01)	0.00	0.89	0.00	0.00	0.10	(0.21)	0.42
LCPMX	0.17	(0.02)	0.00	0.57	0.00	0.00	0.34	(0.45)	1.14
BMBSX	0.11	(0.01)	0.00	(0.53)	0.00	0.00	0.18	(0.27)	0.71
GABTX	0.62	0.01	0.01	0.01	1.02	(0.59)	1.34	(1.63)	4.09

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