Hotchkis Wiley Correlations

HWTIX Fund

USD 10.08 0.07 0.69%

The current 90-days correlation between Hotchkis Wiley Inter and Fidelity Advisor Diversified is 0.83 (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 weak diversification

The correlation between Hotchkis Wiley International and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hotchkis Wiley International 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 International. 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

0.61	HWAAX	Hotchkis Wiley Value	Pair Corr
0.62	HWAIX	Hotchkis Wiley Value	Pair Corr
0.62	HWAZX	Hotchkis Wiley Value	Pair Corr
0.94	HWGIX	Hotchkis Wiley Global	Pair Corr
0.66	HWHAX	Hotchkis Wiley High	Pair Corr
0.94	HWGAX	Hotchkis Wiley Global	Pair Corr
0.66	HWHIX	Hotchkis Wiley High	Pair Corr
0.69	HWHZX	Hotchkis Wiley High	Pair Corr
0.97	HWNIX	Hotchkis And Wiley	Pair Corr
0.98	DISVX	Dfa International Small	Pair Corr
0.99	DFVQX	Dfa International Vector	Pair Corr
0.99	FMNEX	Free Market International	Pair Corr
0.98	OANEX	Oakmark International	Pair Corr
0.92	KGGIX	Kopernik Global All	Pair Corr
0.92	KGGAX	Kopernik Global All	Pair Corr
0.98	OAZEX	Oakmark International	Pair Corr
0.98	OAYEX	Oakmark International	Pair Corr
0.98	OAKEX	Oakmark International	Pair Corr
0.64	FSMMX	Fs Multi Strategy	Pair Corr
0.97	BTMPX	Ishares Msci Eafe	Pair Corr
0.97	BTMKX	Blackrock International	Pair Corr
0.97	MDIIX	Blackrock Intern Index	Pair Corr

Moving against Hotchkis Mutual Fund

0.53	HWMZX	Hotchkis Wiley Mid	Pair Corr
0.52	HWMAX	Hotchkis Wiley Mid	Pair Corr
0.52	HWMIX	Hotchkis Wiley Mid	Pair Corr
0.46	HWSCX	Hotchkis Wiley Small	Pair Corr
0.45	HWSAX	Hotchkis And Wiley	Pair Corr
0.45	HWSIX	Hotchkis Wiley Small	Pair Corr
0.45	HWSZX	Hotchkis Wiley Small	Pair Corr
0.61	HWVZX	Hotchkis Wiley Small	Pair Corr
0.6	HWVIX	Hotchkis Wiley Small	Pair Corr
0.6	HWVAX	Hotchkis Wiley Small	Pair Corr

Related Correlations Analysis

	FZABX	LIGFX	CDBCX	MDVSX	DIFIX	PGBAX	DDFIX	JDJRX
FZABX		0.75	0.8	0.6	0.91	0.88	0.49	0.49	FZABX
LIGFX	0.75		0.5	0.93	0.7	0.63	0.91	0.8	LIGFX
CDBCX	0.8	0.5		0.29	0.95	0.94	0.15	0.25	CDBCX
MDVSX	0.6	0.93	0.29		0.53	0.45	0.98	0.83	MDVSX
DIFIX	0.91	0.7	0.95	0.53		0.95	0.41	0.45	DIFIX
PGBAX	0.88	0.63	0.94	0.45	0.95		0.32	0.41	PGBAX
DDFIX	0.49	0.91	0.15	0.98	0.41	0.32		0.84	DDFIX
JDJRX	0.49	0.8	0.25	0.83	0.45	0.41	0.84		JDJRX
	FZABX	LIGFX	CDBCX	MDVSX	DIFIX	PGBAX	DDFIX	JDJRX

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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
FZABX	0.72	0.10	0.10	0.14	0.94	(0.72)	1.45	(1.37)	6.16
LIGFX	0.31	0.01	0.04	0.04	0.33	(0.33)	0.55	(0.55)	1.75
CDBCX	0.24	0.01	0.05	0.42	0.20	(0.29)	0.56	(0.44)	1.34
MDVSX	0.61	0.07	0.08	0.08	0.74	(0.67)	1.34	(1.41)	3.79
DIFIX	0.27	0.02	0.07	0.10	0.24	(0.33)	0.58	(0.49)	1.51
PGBAX	0.14	0.01	0.06	(0.17)	0.07	(0.18)	0.34	(0.25)	0.85
DDFIX	0.61	0.04	0.05	0.05	0.72	(0.68)	1.19	(1.22)	3.44
JDJRX	0.32	0.01	0.03	1.13	0.37	(0.39)	0.66	(0.75)	2.62

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