Hodgson acknowledges that his remarkable achievements at Fulham may have fuelled unreasonably lofty aspirations when he succeeded Rafael Benitez at Anfield in the summer.
He said: "I know that I am capable of doing this job, but maybe the expectations and ambitions of the club were too high and weren't lessened by the fact that I came off the back of such a good season.
"People may have thought I would turn it around and unfortunately that's not been the case and we have to battle in the same way that Rafael Benitez had to in the latter part of his time at the club.
"Maybe what we have realised is that there is plenty of work to do here, but I am certainly very satisfied with the job I have done here.
"The fact that it hasn't gone as well as I'd have hoped results-wise is just the nature of football. I haven't worked any differently here than I did in the last six months at Fulham.
"Yes, it's been topsy-turvy in the sense that having defied people they have started to crucify me, but that's part of the business and the way things are.
"Pedestals are built to put people on then knock them off and I have a fairly mature attitude to that. I can't do more and the players can't do more so we hope that work will turn our fortunes around and we get some batter results."