Hood River Correlations

Mutual Funds . USA . 
Fund . Hood River Small Cap
HRSIX Fund  USD 66.75  0.17  0.25%   
The current 90-days correlation between Hood River Small and Calvert Developed Market is 0.68 (i.e., Poor 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 Small Cap and DJI is 0.55 (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 Small 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 Hood River Small 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 gross domestic product.

Moving together with Hood Mutual Fund

  0.9HRIIX Hood River InternationalPairCorr
  0.9HRIOX Manager Directed PorPairCorr
  0.9HRITX Manager Directed PorPairCorr
  0.98HRNIX Hood River NewPairCorr
  0.98HRNRX Hood River NewPairCorr
  1.0HRSRX Hood River SmallPairCorr
  1.0HRSMX Hood River SmallPairCorr
  0.95VSGAX Vanguard Small CapPairCorr
  0.95VSGIX Vanguard Small CapPairCorr
  0.95VISGX Vanguard Small CapPairCorr
  0.92VEXPX Vanguard ExplorerPairCorr
  0.92VEXRX Vanguard ExplorerPairCorr
  0.89JGMIX Janus TritonPairCorr
  0.89JGMRX Janus TritonPairCorr
  0.89JGMAX Janus TritonPairCorr
  0.89JGMCX Janus TritonPairCorr
  0.89JGMNX Janus TritonPairCorr
  0.83VSTSX Vanguard Total StockPairCorr
  0.83VSMPX Vanguard Total StockPairCorr
  0.83VITSX Vanguard Total StockPairCorr
  0.8VFFSX Vanguard 500 IndexPairCorr
  0.8VFIAX Vanguard 500 IndexPairCorr
  0.82VINIX Vanguard InstitutionalPairCorr
  0.83VTSAX Vanguard Total StockPairCorr

Moving against Hood Mutual Fund

  0.85RGEVX Us Government SecuritiesPairCorr
  0.82JSNCX Jhancock Short DurationPairCorr
  0.8AVBNX American Century EtfPairCorr
  0.78PDINX Putnam Diversified IncomePairCorr
  0.7VTISX Vanguard Total InterPairCorr
  0.7VTSNX Vanguard Total InterPairCorr
  0.7VTPSX Vanguard Total InterPairCorr
  0.67MRJIX Real Assets PortfolioPairCorr
  0.59HSXCX Hartford SchrodersPairCorr
  0.53CCWIX Chautauqua InternationalPairCorr
  0.41PAOPX T Rowe PricePairCorr
  0.4MGBMX Mfs Global BondPairCorr
  0.38APHWX Artisan Value IncomePairCorr
  0.34BULIX Utilities Fund InvestorPairCorr

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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