Highland Merger Correlations

Mutual Funds . USA . 
Fund . Highland Merger Arbitrage
HMEZX Fund  USD 19.86  0.01  0.05%   
The current 90-days correlation between Highland Merger Arbitrage and Fidelity Sai Inflationfocused is -0.18 (i.e., Good 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

Very good diversification

The correlation between Highland Merger Arbitrage and DJI is -0.29 (i.e., Very good 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

  0.78HHCZX Highland LongshortPairCorr
  0.98HHCAX Highland LongshortPairCorr
  0.79HHCCX Highland LongshortPairCorr
  0.97HSZYX Highland Small CapPairCorr
  0.82HSZAX Highland Small CapPairCorr
  0.82HSZCX Highland Small CapPairCorr
  0.97BCLPX Blckrk Lc CrPairCorr
  0.75BALPX Blckrk Lc CrPairCorr
  0.75BILPX Blkrk Lc CrPairCorr
  0.98MERIX Merger FundPairCorr
  0.98MERFX Merger FundPairCorr
  0.96VARAX Vivaldi Merger ArbitragePairCorr
  0.96VARBX Vivaldi Merger ArbitragePairCorr
  0.98ARBCX Arbitrage FundPairCorr
  0.98ARBNX Arbitrage FundPairCorr
  0.82VSTSX Vanguard Total StockPairCorr
  0.82VSMPX Vanguard Total StockPairCorr
  0.82VITSX Vanguard Total StockPairCorr
  0.82VFFSX Vanguard 500 IndexPairCorr
  0.82VFIAX Vanguard 500 IndexPairCorr
  0.79VTISX Vanguard Total InterPairCorr
  0.79VTSNX Vanguard Total InterPairCorr
  0.79VTPSX Vanguard Total InterPairCorr
  0.82VINIX Vanguard InstitutionalPairCorr
  0.82VTSAX Vanguard Total StockPairCorr
  0.83VWEAX Vanguard High YieldPairCorr
  0.97TRTIX T Rowe PricePairCorr
  0.84PRRTX Putnman Retirement ReadyPairCorr
  0.95WWSCX Teton Westwood SmallPairCorr
  0.95EOD Allspring Global DividendPairCorr
  0.98FXAIX Fidelity 500 IndexPairCorr
  0.79FNCMX Fidelity Nasdaq PositePairCorr
  0.81TEOJX Transamerica EmergingPairCorr
  0.8TREPX Tiaa Cref InternationalPairCorr
  0.76FILRX Franklin InternationalPairCorr
  0.76WCMIX Wcm Focused InternationalPairCorr
  0.92EPDIX Europac InternationalPairCorr
  0.78TROIX T Rowe PricePairCorr

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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