Highland Merger Correlations

Mutual Funds . USA . 
Fund . Highland Merger Arbitrage
HMEAX Fund  USD 19.61  0.02  0.10%   
The current 90-days correlation between Highland Merger Arbitrage and Commonwealth Global Fund is 0.02 (i.e., Significant diversification). The correlation of Highland Merger 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 Merger Correlation With Market

Weak diversification

The correlation between Highland Merger Arbitrage and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Highland Merger Arbitrage 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 Merger Arbitrage. 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

  0.73HHCZX Highland Long/shortPairCorr
  0.7HHCAX Highland Long/shortPairCorr
  0.61HHCCX Highland Long/shortPairCorr
  1.0HMEZX Highland Merger ArbitragePairCorr
  0.9BCLPX Blckrk Lc CrPairCorr
  0.91BALPX Blckrk Lc CrPairCorr
  0.91BILPX Blkrk Lc CrPairCorr
  0.81MERFX Merger FundPairCorr
  0.82MERIX Merger FundPairCorr
  0.97VARAX Vivaldi Merger ArbitragePairCorr
  0.97VARBX Vivaldi Merger ArbitragePairCorr
  0.97VARCX First Trust MergerPairCorr
  0.86ARBNX Arbitrage FundPairCorr
  0.83ARBCX Arbitrage FundPairCorr
  0.95ERH Allspring Utilities AndPairCorr
  0.88WHIYX Ivy High IncomePairCorr
  0.91IVHIX Ivy High IncomePairCorr
  0.9IHIFX Ivy High IncomePairCorr
  0.9WRHIX Ivy High IncomePairCorr
  0.91WHIAX Ivy High IncomePairCorr
  0.95CSJZX Cohen Steers RealtyPairCorr
  0.93CSRSX Cohen Steers RealtyPairCorr
  0.95DPG Duff And PhelpsPairCorr
  0.74OAKLX Oakmark SelectPairCorr
  0.87MMM 3M Company Fiscal Year End 28th of January 2025 PairCorr
  0.69PG Procter GamblePairCorr
  0.88T ATT Inc Fiscal Year End 22nd of January 2025 PairCorr
  0.73CSCO Cisco Systems Aggressive PushPairCorr

Moving against Highland Mutual Fund

  0.49HSZCX Highland Small CapPairCorr
  0.47HSZAX Highland Small CapPairCorr
  0.46HSZYX Highland Small CapPairCorr
  0.73MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.7CVX Chevron Corp Fiscal Year End 7th of February 2025 PairCorr
  0.64BA Boeing Sell-off TrendPairCorr
  0.63AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.56MSFT Microsoft Aggressive PushPairCorr
  0.38HPQ HP Inc Fiscal Year End 19th of November 2024 PairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Highland Mutual Fund performing well and Highland Merger 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 Merger'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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