Hood River Correlations

HRIIX Fund

10.97 0.33 2.92%

The current 90-days correlation between Hood River International and Manager Directed Portfolios is 0.99 (i.e., No risk reduction). 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

Modest diversification

The correlation between Hood River International and DJI is 0.2 (i.e., Modest 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

1.0	HRIOX	Manager Directed Por	Pair Corr
1.0	HRITX	Manager Directed Por	Pair Corr
0.76	HRSRX	Hood River Small	Pair Corr
0.76	HRSIX	Hood River Small	Pair Corr
0.76	HRSMX	Hood River Small	Pair Corr

Moving against Hood Mutual Fund

0.55	ASDCX	Aamhimco Short Duration	Pair Corr
0.5	MDEFX	Blackrock Eurofd	Pair Corr
0.5	AQMNX	Aqr Managed Futures	Pair Corr
0.47	VBITX	Vanguard Short Term	Pair Corr
0.46	FFRAX	Fidelity Advisor Floating	Pair Corr
0.46	ACVUX	International Value	Pair Corr
0.38	WILTX	Westcore Flexible Income	Pair Corr
0.36	BGORX	Blackrock Global Opp	Pair Corr
0.36	JSEAX	Jpmorgan International	Pair Corr
0.32	RITGX	American High Income	Pair Corr
0.31	RLCIX	Lazard Corporate Income	Pair Corr
0.67	PSFAX	Short Term Fund	Pair Corr
0.65	IGRSX	Lord Abbett Investment	Pair Corr
0.64	ASDAX	Aamhimco Short Duration	Pair Corr
0.56	FUEMX	Fidelity Flex Servative	Pair Corr
0.54	MXFIX	Mainstay Floating Rate	Pair Corr
0.53	NEFLX	Loomis Sayles Limited	Pair Corr
0.49	FFRIX	Fidelity Advisor Floating	Pair Corr
0.47	ITFEX	Vy Templeton Foreign	Pair Corr

Related Correlations Analysis

	HRIIX	HRIOX	HRITX	HRSRX	HRSIX	HRSMX
HRIIX		1.0	1.0	0.76	0.76	0.76	HRIIX
HRIOX	1.0		1.0	0.76	0.76	0.76	HRIOX
HRITX	1.0	1.0		0.76	0.76	0.76	HRITX
HRSRX	0.76	0.76	0.76		1.0	1.0	HRSRX
HRSIX	0.76	0.76	0.76	1.0		1.0	HRSIX
HRSMX	0.76	0.76	0.76	1.0	1.0		HRSMX
	HRIIX	HRIOX	HRITX	HRSRX	HRSIX	HRSMX

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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.

	Mean Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
HRIIX	1.03	(0.10)	(0.29)	1.67	(2.32)	7.22
HRIOX	1.05	(0.08)	(0.21)	1.66	(2.40)	7.21
HRITX	1.03	(0.10)	(0.30)	1.61	(2.31)	7.19
HRSRX	1.23	(0.24)	(0.35)	1.67	(3.34)	7.13
HRSIX	1.23	(0.24)	(0.35)	1.67	(3.33)	7.14
HRSMX	1.23	(0.24)	(0.35)	1.67	(3.34)	7.14

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