Highland Global Correlations

Funds . USA . 
Fund . Highland Global Allocation
HGLB Fund  USD 8.28  0.09  1.08%   
The current 90-days correlation between Highland Global Allo and Clough Global Allocation is 0.4 (i.e., Very weak 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

Modest diversification

The correlation between Highland Global Allocation and DJI is 0.21 (i.e., Modest 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 bureau of economic analysis.

Moving together with Highland Fund

  0.87RIRAX Capital Income BuilderPairCorr
  0.87RIREX Capital Income BuilderPairCorr
  0.87RIRCX Capital Income BuilderPairCorr
  0.87RIRFX Capital Income BuilderPairCorr
  0.87CIRCX Capital Income BuilderPairCorr
  0.87CIREX Capital Income BuilderPairCorr
  0.87RIRBX Capital Income BuilderPairCorr
  0.87CAIFX Capital Income BuilderPairCorr
  0.87CIRFX Capital Income BuilderPairCorr
  0.87CIRAX Capital Income BuilderPairCorr
  0.76NHS Neuberger Berman HighPairCorr
  0.78CHY Calamos Convertible AndPairCorr
  0.85ETIMX Eventide Multi AssetPairCorr
  0.84FAHYX Fidelity Advisor HighPairCorr
  0.74PEO Adams Natural ResourcesPairCorr
  0.85BLARX Lord Abbett BalancedPairCorr
  0.79GPPSX Goldman Sachs ShortPairCorr
  0.88TNBIX 1290 Smartbeta EquityPairCorr
  0.83MISMX Matthews Asia SmallPairCorr
  0.78STMUX Invesco Short TermPairCorr
  0.84JGMCX Janus TritonPairCorr
  0.85TRROX T Rowe PricePairCorr
  0.8BUBSX Baird Ultra ShortPairCorr
  0.79NBPIX Neuberger Berman LargePairCorr
  0.82GLEAX Goldman Sachs MlpPairCorr
  0.8IORLX Aim Taxexempt FundsPairCorr
  0.85BGHSX Brandywineglobal HighPairCorr
  0.75RYCVX Dow 2x StrategyPairCorr
  0.86QIBGX Federated Mdt BalancedPairCorr
  0.87FLCNX Fidelity ContrafundPairCorr
  0.92DPRRX Delaware ReitPairCorr
  0.87ETJ Eaton Vance RiskPairCorr
  0.87AAIYX Alger Mid Cap Steady GrowthPairCorr
  0.76VEVFX Vanguard Explorer ValuePairCorr
  0.75KAMCX Kensington Managed IncomePairCorr
  0.85BEQAX Equity GrowthPairCorr

Related Correlations Analysis

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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.

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