Highland Long/short Correlations

Mutual Funds . USA . 
Fund . Highland Longshort Healthcare
HHCZX Fund  USD 16.32  0.04  0.25%   
The current 90-days correlation between Highland Long/short and Blckrk Lc Cr is 0.48 (i.e., Very weak diversification). The correlation of Highland Long/short 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.

Highland Long/short Correlation With Market

Poor diversification

The correlation between Highland Longshort Healthcare and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Highland Longshort Healthcare 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 Longshort Healthcare. 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 Highland Mutual Fund

  1.0HHCAX Highland Long/shortPairCorr
  0.99HHCCX Highland Long/shortPairCorr
  0.73HMEAX Highland Merger ArbitragePairCorr
  0.72HMEZX Highland Merger ArbitragePairCorr
  0.63MERFX Merger FundPairCorr
  0.65MERIX Merger FundPairCorr
  0.61VARAX Vivaldi Merger ArbitragePairCorr
  0.62VARBX Vivaldi Merger ArbitragePairCorr
  0.62VARCX First Trust MergerPairCorr
  0.7ARBNX Arbitrage FundPairCorr
  0.69ARBCX Arbitrage FundPairCorr
  0.63WHIYX Ivy High IncomePairCorr
  0.72IVHIX Ivy High IncomePairCorr
  0.71IHIFX Ivy High IncomePairCorr
  0.72WRHIX Ivy High IncomePairCorr
  0.69WHIAX Ivy High IncomePairCorr
  0.62CSJZX Cohen Steers RealtyPairCorr
  0.65DPG Duff And PhelpsPairCorr
  0.7OAKLX Oakmark SelectPairCorr
  0.65DD Dupont De Nemours Fiscal Year End 4th of February 2025 PairCorr
  0.76CSCO Cisco Systems Aggressive PushPairCorr
  0.76CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Highland Mutual Fund performing well and Highland Long/short 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 Highland Long/short'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.

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