Highland Merger Correlations

Mutual Funds . USA . 
Fund . Highland Merger Arbitrage
HMEZX Fund  USD 19.92  0.04  0.20%   
The current 90-days correlation between Highland Merger Arbitrage and Pimco Energy Tactical is 0.1 (i.e., Average 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

Poor diversification

The correlation between Highland Merger Arbitrage 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 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

  0.98HHCZX Highland Long/shortPairCorr
  0.97HHCAX Highland LongshortPairCorr
  0.97HHCCX Highland LongshortPairCorr
  0.98HSZYX Highland Small CapPairCorr
  0.97HSZAX Highland Small CapPairCorr
  0.98HSZCX Highland Small CapPairCorr
  0.88BCLPX Blckrk Lc CrPairCorr
  0.9BALPX Blckrk Lc CrPairCorr
  0.9BILPX Blkrk Lc CrPairCorr
  0.99MERIX Merger FundPairCorr
  0.99MERFX Merger FundPairCorr
  0.93VARAX Vivaldi Merger ArbitragePairCorr
  0.94VARBX Vivaldi Merger ArbitragePairCorr
  0.93VARCX First Trust MergerPairCorr
  0.98ARBCX Arbitrage FundPairCorr
  0.99ARBNX Arbitrage FundPairCorr
  0.95CPAYX Columbia Pacific/asiaPairCorr
  0.97CASAX Columbia Pacific/asiaPairCorr
  0.68CCCZX Center St BrookfieldPairCorr
  0.97CASCX Columbia PacificasiaPairCorr
  0.97MSKLX Mid Cap GrowthPairCorr
  0.96CISGX Touchstone Sands CapitalPairCorr
  0.97MPEGX Mid Cap GrowthPairCorr
  0.98TLYRX Tiaa Cref LifecyclePairCorr
  0.98FEYIX Fidelity Asset ManagerPairCorr
  0.9AUNTX Ab Municipal BondPairCorr
  0.85RPNIX Riverpark/next CenturyPairCorr
  0.98PTOAX Stocksplus Total ReturnPairCorr
  0.98RAMTX American Funds 2055PairCorr
  0.94PCBAX Blackrock TacticalPairCorr
  0.98TPILX Tiaa Cref LifecyclePairCorr
  0.98VFIFX Vanguard Target RetiPairCorr
  0.63FREAX Nuveen Real EstatePairCorr
  0.96NWJCX Nationwide Ziegler NysePairCorr
  0.98HBATX Hartford ModeratePairCorr
  0.95CRLSX Calamos LongshortPairCorr
  0.96HAVLX Harbor Large CapPairCorr

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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