Hotchkis Correlations

HWSAX Fund

USD 69.17 0.59 0.85%

The current 90-days correlation between Hotchkis And Wiley and Hotchkis Wiley Mid Cap is 0.93 (i.e., Almost no diversification). The correlation of Hotchkis 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 Correlation With Market

Poor diversification

The correlation between Hotchkis And Wiley and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hotchkis And Wiley 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 And Wiley. 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 nation.

Moving together with Hotchkis Mutual Fund

0.65	HWCAX	Hotchkis Wiley Diver	Pair Corr
0.64	HWCIX	Hotchkis Wiley Diver	Pair Corr
0.96	HWMZX	Hotchkis Wiley Mid	Pair Corr
0.96	HWMAX	Hotchkis Wiley Mid	Pair Corr
0.96	HWMIX	Hotchkis Wiley Mid	Pair Corr
1.0	HWSCX	Hotchkis Wiley Small	Pair Corr
1.0	HWSIX	Hotchkis Wiley Small	Pair Corr
1.0	HWSZX	Hotchkis Wiley Small	Pair Corr
0.96	HWVIX	Hotchkis Wiley Small	Pair Corr
0.96	HWVZX	Hotchkis Wiley Small	Pair Corr
0.96	HWVAX	Hotchkis Wiley Small	Pair Corr
0.98	VSIIX	Vanguard Small Cap	Pair Corr
0.98	VISVX	Vanguard Small Cap	Pair Corr
0.97	DFSVX	Us Small Cap	Pair Corr
0.98	DFFVX	Us Targeted Value	Pair Corr
0.97	UBVCX	Undiscovered Managers	Pair Corr
0.97	UBVAX	Undiscovered Managers	Pair Corr
0.97	UBVSX	Undiscovered Managers	Pair Corr
0.85	AVFIX	American Beacon Small	Pair Corr
0.63	SMPIX	Semiconductor Ultrasector	Pair Corr

Moving against Hotchkis Mutual Fund

0.54	HWNIX	Hotchkis And Wiley	Pair Corr
0.41	HWTIX	Hotchkis Wiley Inter	Pair Corr
0.5	ABNOX	Ab Bond Inflation	Pair Corr
0.42	TREMX	T Rowe Price	Pair Corr

Related Correlations Analysis

	HWMAX	HWSIX	HWSCX	HWAAX	UMPSX
HWMAX		0.96	0.96	0.29	0.95	HWMAX
HWSIX	0.96		1.0	0.4	0.96	HWSIX
HWSCX	0.96	1.0		0.39	0.96	HWSCX
HWAAX	0.29	0.4	0.39		0.19	HWAAX
UMPSX	0.95	0.96	0.96	0.19		UMPSX
	HWMAX	HWSIX	HWSCX	HWAAX	UMPSX

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Risk-Adjusted Indicators

There is a big difference between Hotchkis Mutual Fund performing well and Hotchkis 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' 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
HWMAX	0.84	(0.07)	0.00	(0.15)	0.00	0.00	1.31	(2.22)	4.66
HWSIX	0.91	(0.10)	0.00	(0.18)	0.00	0.00	1.63	(2.12)	4.53
HWSCX	0.91	(0.11)	0.00	(0.18)	0.00	0.00	1.62	(2.11)	4.55
HWAAX	0.74	0.05	0.06	(0.01)	0.98	(0.74)	1.42	(1.61)	4.49
UMPSX	1.68	(0.21)	0.00	(0.18)	0.00	0.00	2.58	(4.39)	8.04

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