Highland Global Correlations

HGLB Fund

USD 9.21 0.06 0.66%

The current 90-days correlation between Highland Global Allo and Wells Fargo Advantage is 0.25 (i.e., Modest diversification). The correlation of Highland Global 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.

Highland Global Correlation With Market

Very weak diversification

The correlation between Highland Global Allocation and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Highland Global Allocation 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 Highland Global Allocation. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving together with Highland Fund

0.78	SMPSX	Semiconductor Ultrasector	Pair Corr
0.78	SMPIX	Semiconductor Ultrasector	Pair Corr
0.75	FELIX	Fidelity Advisor Sem	Pair Corr
0.69	RYVYX	Nasdaq 100 2x	Pair Corr
0.67	RYVLX	Nasdaq 100 2x	Pair Corr
0.75	FSELX	Fidelity Select Semi	Pair Corr
0.63	MSPYX	Blackrock Pa Muni	Pair Corr
0.7	VMICX	Invesco Municipal Income	Pair Corr
0.65	ASICX	Invesco Asia Pacific	Pair Corr
0.67	LINIX	Blackrock Lifepath Idx	Pair Corr
0.75	AEPFX	Europacific Growth	Pair Corr

Moving against Highland Fund

0.53	FIDAX	Financial Industries	Pair Corr
0.35	PCVAX	Allianzgi Nfj Small	Pair Corr

Related Correlations Analysis

	EOD	RIV	OPP	DNMDX	GLO	HSFNX	RLTY	TSI	PSF	SPE
EOD		0.39	-0.54	0.78	0.57	0.16	-0.22	-0.01	-0.1	0.19	EOD
RIV	0.39		0.42	-0.02	-0.05	0.47	0.26	0.43	0.12	0.78	RIV
OPP	-0.54	0.42		-0.83	-0.59	0.24	0.56	0.47	0.32	0.52	OPP
DNMDX	0.78	-0.02	-0.83		0.46	0.03	-0.5	-0.31	-0.5	-0.21	DNMDX
GLO	0.57	-0.05	-0.59	0.46		0.03	-0.03	-0.08	0.32	-0.01	GLO
HSFNX	0.16	0.47	0.24	0.03	0.03		0.3	0.3	0.0	0.4	HSFNX
RLTY	-0.22	0.26	0.56	-0.5	-0.03	0.3		0.24	0.47	0.55	RLTY
TSI	-0.01	0.43	0.47	-0.31	-0.08	0.3	0.24		0.41	0.42	TSI
PSF	-0.1	0.12	0.32	-0.5	0.32	0.0	0.47	0.41		0.28	PSF
SPE	0.19	0.78	0.52	-0.21	-0.01	0.4	0.55	0.42	0.28		SPE
	EOD	RIV	OPP	DNMDX	GLO	HSFNX	RLTY	TSI	PSF	SPE

Please upgrade your account to get full access to Macroaxis premium features

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

DNMDX	+ 0.78	EOD
SPE	+ 0.78	RIV
GLO	+ 0.57	EOD
RLTY	+ 0.56	OPP
SPE	+ 0.55	RLTY
SPE	+ 0.52	OPP

High negative correlations

DNMDX	- 0.83	OPP
GLO	- 0.59	OPP
OPP	- 0.54	EOD
PSF	- 0.5	DNMDX
RLTY	- 0.5	DNMDX
TSI	- 0.31	DNMDX

Risk-Adjusted Indicators

There is a big difference between Highland Fund performing well and Highland Global 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 Highland Global'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
EOD	0.60	0.03	0.00	0.12	0.58	(0.76)	1.38	(1.08)	3.59
RIV	0.51	(0.04)	(0.12)	0.00	0.58	(0.59)	1.37	(1.04)	2.56
OPP	0.52	(0.13)	0.00	(0.41)	0.00	0.00	1.02	(1.14)	2.75
DNMDX	0.06	0.02	(0.72)	0.50	0.00	(0.08)	0.17	(0.10)	0.31
GLO	0.70	(0.03)	(0.05)	0.04	0.85	(0.74)	1.26	(1.41)	5.60
HSFNX	1.26	(0.13)	0.00	(0.02)	0.00	0.00	3.36	(3.72)	12.75
RLTY	0.52	(0.13)	0.00	(0.15)	0.00	0.00	1.08	(1.13)	3.71
TSI	0.30	(0.02)	(0.21)	(0.08)	0.32	(0.43)	0.61	(0.61)	1.84
PSF	0.39	(0.02)	(0.13)	(0.01)	0.53	(0.39)	0.69	(0.78)	2.49
SPE	0.46	(0.07)	0.00	(0.06)	0.00	0.00	0.85	(0.97)	2.87

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC