Hussman Strategic Correlations

HSAFX Fund

USD 9.73 0.01 0.10%

The current 90-days correlation between Hussman Strategic and Gamco Global Gold is 0.17 (i.e., Average diversification). The correlation of Hussman Strategic 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.

Hussman Strategic Correlation With Market

Average diversification

The correlation between Hussman Strategic Allocation 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 Hussman Strategic Allocation 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 Hussman Strategic Allocation. 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 census.

Moving together with Hussman Mutual Fund

0.93	HSDVX	Hussman Strategic	Pair Corr
0.86	HSGFX	Hussman Strategic Growth	Pair Corr
0.94	HSTRX	Hussman Strategic Total	Pair Corr
0.76	PAALX	All Asset Fund	Pair Corr
0.75	PATRX	Pimco All Asset	Pair Corr
0.77	PAAIX	All Asset Fund	Pair Corr
0.76	PALPX	Pimco All Asset	Pair Corr
0.76	PASAX	All Asset Fund	Pair Corr
0.75	PASCX	All Asset Fund	Pair Corr
0.76	PAANX	Pimco All Asset	Pair Corr
0.81	PAUPX	Pimco All Asset	Pair Corr
0.81	PAUIX	Pimco All Asset	Pair Corr
0.88	TTEEX	T Rowe Price	Pair Corr
0.66	RYAFX	Inverse Russell 2000	Pair Corr
0.74	PFFRX	T Rowe Price	Pair Corr
0.89	GMWPX	Goldman Sachs Local	Pair Corr
0.95	APOAX	Short Duration Inflation	Pair Corr
0.68	ARCNX	Aqr Risk Balanced	Pair Corr
0.8	FXOKX	Oklahoma College Savings	Pair Corr
0.93	STBCX	Invesco Short Term	Pair Corr
0.9	CBUDX	Crossingbridge Ultra-short	Pair Corr
0.66	EUGAX	Morgan Stanley European	Pair Corr
0.87	VMSIX	Vanguard Multi Sector	Pair Corr
0.82	BUIIX	Buffalo International	Pair Corr
0.8	BCAAX	Brandywineglobal C	Pair Corr
0.93	ASGHX	Short Term Government	Pair Corr
0.8	PCF	Putnam High Income	Pair Corr
0.87	ARHBX	Artisan International	Pair Corr
0.91	BUBIX	Baird Ultra Short	Pair Corr

Moving against Hussman Mutual Fund

0.84	SMPIX	Semiconductor Ultrasector Steady Growth	Pair Corr
0.83	SMPSX	Semiconductor Ultrasector Steady Growth	Pair Corr

Related Correlations Analysis

	XGGNX	VGSBX	IIGCX	AGGWX	EPGIX	OGMCX	GCEBX
XGGNX		0.53	0.92	0.92	0.92	0.96	0.06	XGGNX
VGSBX	0.53		0.56	0.55	0.6	0.55	0.65	VGSBX
IIGCX	0.92	0.56		1.0	0.98	0.98	-0.01	IIGCX
AGGWX	0.92	0.55	1.0		0.98	0.98	-0.01	AGGWX
EPGIX	0.92	0.6	0.98	0.98		0.98	0.1	EPGIX
OGMCX	0.96	0.55	0.98	0.98	0.98		0.04	OGMCX
GCEBX	0.06	0.65	-0.01	-0.01	0.1	0.04		GCEBX
	XGGNX	VGSBX	IIGCX	AGGWX	EPGIX	OGMCX	GCEBX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

AGGWX	+ 1.0	IIGCX
EPGIX	+ 0.98	IIGCX
OGMCX	+ 0.98	IIGCX
EPGIX	+ 0.98	AGGWX
OGMCX	+ 0.98	AGGWX
OGMCX	+ 0.98	EPGIX

High negative correlations

GCEBX	- 0.01	AGGWX
GCEBX	- 0.01	IIGCX

Risk-Adjusted Indicators

There is a big difference between Hussman Mutual Fund performing well and Hussman Strategic 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 Hussman Strategic'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
XGGNX	0.69	0.10	0.16	0.20	0.84	(0.78)	1.44	(1.41)	3.99
VGSBX	0.20	(0.02)	0.00	(0.49)	0.00	0.00	0.43	(0.43)	0.98
IIGCX	1.36	0.31	0.21	0.58	1.49	(1.47)	3.26	(2.90)	7.27
AGGWX	1.36	0.34	0.22	0.62	1.53	(1.49)	2.88	(3.33)	7.23
EPGIX	1.39	0.25	0.17	0.54	1.55	(1.49)	3.24	(2.97)	7.74
OGMCX	1.37	0.24	0.16	0.31	1.64	(1.50)	2.69	(3.21)	7.69
GCEBX	0.76	(0.01)	0.00	(0.14)	0.00	0.00	1.48	(2.40)	4.21

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