Hotchkis Wiley Correlations

HWSZX Fund

USD 86.03 0.05 0.06%

The current 90-days correlation between Hotchkis Wiley Small and Hw Opportunities Mp is 0.84 (i.e., Very poor 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

Very poor diversification

The correlation between Hotchkis Wiley Small and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hotchkis Wiley Small 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 Small. 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

0.89	HOMPX	Hw Opportunities	Pair Corr
0.99	HWAAX	Hotchkis Wiley Value	Pair Corr
0.99	HWACX	Hotchkis Wiley Value	Pair Corr
0.99	HWAIX	Hotchkis Wiley Value	Pair Corr
0.99	HWAZX	Hotchkis Wiley Value	Pair Corr
0.97	HWCAX	Hotchkis Wiley Diver	Pair Corr
0.97	HWCIX	Hotchkis Wiley Diver	Pair Corr
0.77	HWGIX	Hotchkis Wiley Global	Pair Corr
0.74	HWHAX	Hotchkis Wiley High	Pair Corr
0.76	HWGAX	Hotchkis Wiley Global	Pair Corr
0.78	HWHIX	Hotchkis Wiley High	Pair Corr
0.76	HWHZX	Hotchkis Wiley High	Pair Corr
0.97	HWLAX	Hotchkis Wiley Large	Pair Corr
0.97	HWLIX	Hotchkis Wiley Large	Pair Corr
0.97	HWLZX	Hotchkis Wiley Large	Pair Corr
0.9	HWMAX	Hotchkis Wiley Mid	Pair Corr
0.9	HWMIX	Hotchkis Wiley Mid	Pair Corr
1.0	HWSAX	Hotchkis And Wiley	Pair Corr
1.0	HWSCX	Hotchkis Wiley Small	Pair Corr
1.0	HWSIX	Hotchkis Wiley Small	Pair Corr
0.97	HWVIX	Hotchkis Wiley Small	Pair Corr
0.97	HWVZX	Hotchkis Wiley Small	Pair Corr
0.97	HWVAX	Hotchkis Wiley Small	Pair Corr
0.98	VSIIX	Vanguard Small Cap	Pair Corr
0.98	VISVX	Vanguard Small Cap	Pair Corr
0.99	DFSVX	Us Small Cap	Pair Corr
0.99	DFFVX	Us Targeted Value	Pair Corr
0.96	UBVCX	Undiscovered Managers	Pair Corr
0.96	UBVAX	Undiscovered Managers	Pair Corr
0.96	UBVSX	Undiscovered Managers	Pair Corr
0.99	AVFIX	American Beacon Small	Pair Corr
0.63	SMPSX	Semiconductor Ultrasector	Pair Corr
0.64	SMPIX	Semiconductor Ultrasector	Pair Corr
0.9	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.9	LSHEX	Kinetics Spin Off Steady Growth	Pair Corr

Moving against Hotchkis Mutual Fund

0.5	HWNIX	Hotchkis And Wiley	Pair Corr
0.49	HWTIX	Hotchkis Wiley Inter	Pair Corr

Related Correlations Analysis

	HOMPX	HWAAX	HWACX	HWAIX	HWAZX	HWCAX	HWCIX	HWGIX	HWHAX	HWGAX
HOMPX		0.88	0.88	0.88	0.88	0.81	0.81	0.76	0.76	0.75	HOMPX
HWAAX	0.88		1.0	1.0	1.0	0.97	0.97	0.76	0.73	0.75	HWAAX
HWACX	0.88	1.0		1.0	1.0	0.97	0.97	0.77	0.73	0.76	HWACX
HWAIX	0.88	1.0	1.0		1.0	0.97	0.97	0.76	0.73	0.75	HWAIX
HWAZX	0.88	1.0	1.0	1.0		0.97	0.97	0.76	0.73	0.75	HWAZX
HWCAX	0.81	0.97	0.97	0.97	0.97		1.0	0.79	0.65	0.78	HWCAX
HWCIX	0.81	0.97	0.97	0.97	0.97	1.0		0.79	0.65	0.78	HWCIX
HWGIX	0.76	0.76	0.77	0.76	0.76	0.79	0.79		0.45	1.0	HWGIX
HWHAX	0.76	0.73	0.73	0.73	0.73	0.65	0.65	0.45		0.44	HWHAX
HWGAX	0.75	0.75	0.76	0.75	0.75	0.78	0.78	1.0	0.44		HWGAX
	HOMPX	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
HOMPX	0.64	(0.06)	(0.12)	0.05	0.70	(0.75)	1.35	(1.20)	3.36
HWAAX	0.57	(0.04)	(0.08)	0.08	0.53	(0.73)	1.07	(0.97)	4.05
HWACX	0.57	(0.04)	(0.09)	0.08	0.54	(0.73)	1.06	(0.95)	4.05
HWAIX	0.57	(0.04)	(0.08)	0.09	0.53	(0.71)	1.06	(0.97)	4.04
HWAZX	0.57	(0.04)	(0.08)	0.08	0.53	(0.68)	1.06	(0.97)	4.06
HWCAX	0.61	(0.05)	(0.08)	0.07	0.61	(0.69)	1.22	(1.14)	4.77
HWCIX	0.61	(0.05)	(0.08)	0.07	0.61	(0.67)	1.23	(1.14)	4.72
HWGIX	0.54	(0.08)	(0.15)	0.01	0.69	(0.59)	1.11	(1.28)	3.24
HWHAX	0.11	0.01	(0.72)	0.31	0.00	(0.17)	0.29	(0.19)	0.86
HWGAX	0.54	(0.09)	(0.15)	0.01	0.73	(0.54)	1.11	(1.22)	3.18

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