Hotchkis Wiley Correlations

HWLIX Fund

USD 42.23 0.27 0.64%

The current 90-days correlation between Hotchkis Wiley Large and Hotchkis Wiley Value is 0.9 (i.e., Almost no diversification). The correlation of Hotchkis Wiley 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.

Hotchkis Wiley Correlation With Market

Poor diversification

The correlation between Hotchkis Wiley Large and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hotchkis Wiley Large 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 Hotchkis Wiley Large. 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 Hotchkis Mutual Fund

0.85	HOMPX	Hw Opportunities	Pair Corr
0.91	HWAAX	Hotchkis Wiley Value	Pair Corr
0.91	HWACX	Hotchkis Wiley Value	Pair Corr
0.91	HWAIX	Hotchkis Wiley Value	Pair Corr
0.91	HWAZX	Hotchkis Wiley Value	Pair Corr
0.99	HWCAX	Hotchkis Wiley Diver	Pair Corr
0.99	HWCIX	Hotchkis Wiley Diver	Pair Corr
0.61	HWGIX	Hotchkis Wiley Global	Pair Corr
0.7	HWHAX	Hotchkis Wiley High	Pair Corr
0.61	HWGAX	Hotchkis Wiley Global	Pair Corr
0.68	HWHIX	Hotchkis Wiley High	Pair Corr
0.69	HWHZX	Hotchkis Wiley High	Pair Corr
1.0	HWLAX	Hotchkis Wiley Large	Pair Corr
1.0	HWLZX	Hotchkis Wiley Large	Pair Corr
0.96	VVIAX	Vanguard Value Index	Pair Corr
0.92	DOXGX	Dodge Cox Stock	Pair Corr
0.82	AFMFX	American Mutual	Pair Corr
0.82	FFMMX	American Funds American	Pair Corr
0.82	FFFMX	American Funds American	Pair Corr
0.82	AMRMX	American Mutual	Pair Corr
0.82	AMFFX	American Mutual	Pair Corr
0.82	AMFCX	American Mutual	Pair Corr
0.87	DODGX	Dodge Stock Fund	Pair Corr
0.96	VIVAX	Vanguard Value Index	Pair Corr

Moving against Hotchkis Mutual Fund

0.59	TDKTX	Cleartrack 2015 Class	Pair Corr
0.58	TCTGX	Transamerica Cleartrack	Pair Corr
0.58	TCTJX	Transamerica Cleartrack	Pair Corr
0.51	TCSUX	Cleartrack 2020 Class	Pair Corr
0.4	USPSX	Profunds Ultrashort	Pair Corr
0.39	USPIX	Profunds Ultrashort	Pair Corr

Related Correlations Analysis

	HWAAX	HWACX	HWAIX	HWAZX	HWCAX	HWCIX	HWGIX	HWHAX	HWGAX
HWAAX		1.0	1.0	1.0	0.91	0.91	0.8	0.82	0.8	HWAAX
HWACX	1.0		1.0	1.0	0.91	0.91	0.79	0.81	0.79	HWACX
HWAIX	1.0	1.0		1.0	0.9	0.91	0.8	0.82	0.8	HWAIX
HWAZX	1.0	1.0	1.0		0.9	0.91	0.81	0.82	0.81	HWAZX
HWCAX	0.91	0.91	0.9	0.9		1.0	0.56	0.7	0.56	HWCAX
HWCIX	0.91	0.91	0.91	0.91	1.0		0.57	0.7	0.57	HWCIX
HWGIX	0.8	0.79	0.8	0.81	0.56	0.57		0.81	1.0	HWGIX
HWHAX	0.82	0.81	0.82	0.82	0.7	0.7	0.81		0.82	HWHAX
HWGAX	0.8	0.79	0.8	0.81	0.56	0.57	1.0	0.82		HWGAX
	HWAAX	HWACX	HWAIX	HWAZX	HWCAX	HWCIX	HWGIX	HWHAX	HWGAX

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Risk-Adjusted Indicators

There is a big difference between Hotchkis Mutual Fund performing well and Hotchkis Wiley 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 Hotchkis Wiley'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
HWAAX	0.74	0.05	0.06	(0.01)	0.98	(0.74)	1.42	(1.61)	4.49
HWACX	0.74	0.05	0.06	(0.01)	0.98	(0.74)	1.43	(1.65)	4.53
HWAIX	0.74	0.05	0.06	0.00	0.98	(0.75)	1.45	(1.64)	4.49
HWAZX	0.74	0.05	0.06	0.00	0.97	(0.75)	1.45	(1.61)	4.54
HWCAX	0.72	0.04	0.00	(0.02)	0.00	0.00	1.28	(1.63)	3.77
HWCIX	0.71	0.04	0.00	(0.02)	0.00	0.00	1.28	(1.60)	3.72
HWGIX	0.68	0.10	0.12	0.07	0.89	(0.67)	1.36	(1.40)	4.23
HWHAX	0.14	0.00	0.29	(0.06)	0.16	(0.18)	0.38	(0.28)	1.06
HWGAX	0.69	0.10	0.12	0.07	0.91	(0.67)	1.34	(1.40)	4.28

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