Hood River Correlations

Mutual Funds . USA . 
Fund . Hood River International
HRIIX Fund   11.06  0.19  1.75%   
The current 90-days correlation between Hood River International and Dreyfus Short Intermediate is -0.08 (i.e., Good diversification). The correlation of Hood River 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.

Hood River Correlation With Market

Very weak diversification

The correlation between Hood River International and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hood River International 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 Hood River International. 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 gross domestic product.

Moving together with Hood Mutual Fund

  1.0HRIOX Manager Directed PorPairCorr
  1.0HRITX Manager Directed PorPairCorr
  0.85HRNIX Hood River NewPairCorr
  0.85HRNRX Hood River NewPairCorr
  0.9HRSRX Hood River SmallPairCorr
  0.9HRSIX Hood River SmallPairCorr
  0.9HRSMX Hood River SmallPairCorr

Moving against Hood Mutual Fund

  0.73BTMKX Blackrock InternationalPairCorr
  0.7BTMPX Ishares Msci EafePairCorr
  0.7MDIIX Blackrock Intern IndexPairCorr
  0.51MIDHX Mfs International NewPairCorr
  0.51MIDRX Mfs International NewPairCorr
  0.5MIDGX Mfs International NewPairCorr
  0.48OSMYX Oppenheimer Intl SmallPairCorr
  0.48OSCIX Oppenheimer Intl SmallPairCorr
  0.48TIDDX T Rowe PricePairCorr
  0.47OSMNX Oppenheimer Intl SmallPairCorr
  0.45FSMMX Fs Multi StrategyPairCorr
  0.85MQLCX Mfs Limited MaturityPairCorr
  0.81RGEVX Us Government SecuritiesPairCorr
  0.81JBOIX John Hancock EsgPairCorr
  0.79ABNDX Bond FundPairCorr
  0.79FICMX Federated GovernmentPairCorr
  0.78FMSCX Fidelity Advisor MortgagePairCorr
  0.77PUBRX Pimco Unconstrained BondPairCorr
  0.76PYCWX Payden E BondPairCorr
  0.76FIVOX Fidelity InternationalPairCorr
  0.76NECRX Loomis Sayles EPairCorr
  0.74JHCBX John Hancock BondPairCorr
  0.71MXECX Great-west CorePairCorr
  0.68TIEUX International EquityPairCorr
  0.68MRJIX Real Assets PortfolioPairCorr
  0.59RROPX American Funds RetirementPairCorr
  0.81UIPIX Ultrashort Mid CapPairCorr
  0.8VMSSX Virtus Multi SectorPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Hood Mutual Fund performing well and Hood River 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 Hood River'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.

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