Highland Longshort Correlations

Mutual Funds . USA . 
Fund . Highland Longshort Healthcare
HHCCX Fund  USD 14.62  0.02  0.14%   
The current 90-days correlation between Highland Longshort and Highland Longshort Healthcare is -0.17 (i.e., Good diversification). The correlation of Highland Longshort 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 Longshort Correlation With Market

Good diversification

The correlation between Highland Longshort Healthcare and DJI is -0.15 (i.e., Good 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 main economic indicators.

Moving together with Highland Mutual Fund

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  0.94NWJCX Nationwide Ziegler NysePairCorr
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  0.94HAVLX 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 Longshort 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 Longshort'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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