Horizon Kinetics Correlations

SPAQ Etf

USD 104.43 0.09 0.09%

The current 90-days correlation between Horizon Kinetics SPAC and Franklin Templeton ETF is -0.16 (i.e., Good diversification). The correlation of Horizon Kinetics 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.

Horizon Kinetics Correlation With Market

Good diversification

The correlation between Horizon Kinetics SPAC and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Horizon Kinetics SPAC and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Horizon Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Horizon Kinetics SPAC. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Horizon Etf

0.72	IBB	iShares Biotechnology ETF	Pair Corr
0.73	XBI	SPDR SP Biotech	Pair Corr
0.65	IHI	iShares Medical Devices	Pair Corr
0.77	ARKG	ARK Genomic Revolution	Pair Corr
0.67	PMBS	PIMCO Mortgage Backed	Pair Corr
0.92	ITDD	iShares Trust	Pair Corr
0.72	EUSB	iShares Trust	Pair Corr
0.83	VBF	Invesco Van Kampen	Pair Corr
0.91	SRLN	SPDR Blackstone Senior	Pair Corr
0.91	BUFD	FT Cboe Vest	Pair Corr
0.88	SPIB	SPDR Barclays Interm	Pair Corr
0.77	HIDE	Alpha Architect High	Pair Corr
0.88	NFLX	Netflix Downward Rally	Pair Corr
0.91	VABS	Virtus Newfleet ABSMBS	Pair Corr
0.86	PFUT	Putnam Sustainable Future	Pair Corr
0.92	CGGO	Capital Group Global	Pair Corr
0.92	QTOC	Innovator ETFs Trust	Pair Corr

Moving against Horizon Etf

0.67

IHF

iShares Healthcare

Pair Corr

Related Correlations Analysis

	DIEM	DIPS	DISO	DIVB	DIVD	DIVG	DIVI	DIVL	DIVO
DIEM		-0.95	0.95	0.98	0.97	0.95	0.96	0.97	0.98	DIEM
DIPS	-0.95		-0.95	-0.95	-0.93	-0.9	-0.91	-0.95	-0.96	DIPS
DISO	0.95	-0.95		0.96	0.94	0.89	0.95	0.93	0.94	DISO
DIVB	0.98	-0.95	0.96		0.98	0.98	0.96	0.97	0.99	DIVB
DIVD	0.97	-0.93	0.94	0.98		0.95	0.98	0.96	0.97	DIVD
DIVG	0.95	-0.9	0.89	0.98	0.95		0.9	0.94	0.97	DIVG
DIVI	0.96	-0.91	0.95	0.96	0.98	0.9		0.94	0.94	DIVI
DIVL	0.97	-0.95	0.93	0.97	0.96	0.94	0.94		0.97	DIVL
DIVO	0.98	-0.96	0.94	0.99	0.97	0.97	0.94	0.97		DIVO
	DIEM	DIPS	DISO	DIVB	DIVD	DIVG	DIVI	DIVL	DIVO

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

DIVO	+ 0.99	DIVB
DIVB	+ 0.98	DIEM
DIVO	+ 0.98	DIEM
DIVD	+ 0.98	DIVB
DIVG	+ 0.98	DIVB
DIVI	+ 0.98	DIVD

High negative correlations

DIVO	- 0.96	DIPS
DIVL	- 0.95	DIPS
DIVB	- 0.95	DIPS
DISO	- 0.95	DIPS
DIPS	- 0.95	DIEM
DIVD	- 0.93	DIPS

Horizon Kinetics Constituents Risk-Adjusted Indicators

There is a big difference between Horizon Etf performing well and Horizon Kinetics ETF 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 Horizon Kinetics' 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DIEM	0.55	0.18	0.18	0.53	0.11	(0.68)	1.52	(1.02)	4.00
DIPS	1.51	(0.56)	0.00	2.79	0.00	0.00	2.74	(4.05)	13.70
DISO	0.83	0.30	0.29	0.61	0.35	(1.10)	1.85	(1.28)	8.62
DIVB	0.62	0.08	0.06	0.23	0.49	(0.71)	1.64	(1.21)	4.54
DIVD	0.54	0.07	0.03	0.26	0.45	(0.61)	1.31	(1.13)	3.11
DIVG	0.63	0.03	0.00	0.17	0.72	(0.65)	1.45	(1.19)	4.55
DIVI	0.57	0.12	0.07	0.39	0.41	(0.64)	1.37	(1.07)	3.32
DIVL	0.63	0.15	0.01	(2.48)	0.65	(0.72)	1.46	(1.33)	5.05
DIVO	0.48	0.03	(0.02)	0.17	0.50	(0.55)	1.31	(1.10)	3.08

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