Hit rate as we all know nullifies dodge. However, Dawnseeker on behalf of Tynon has told us hit rate runes work for mages.

Now, a mages miss rate is different to a physical attack heroes accuracy. So I assume that all mages have a basic hit/miss rate. Shayd from what I've learnt has a very low hit rate and somehow a hit rate rune increases it. That's all I can tell you right now.