Horizon Kinetics Correlations

INFL Etf

USD 39.41 0.40 1.00%

The current 90-days correlation between Horizon Kinetics Inf and Quadratic Interest Rate is 0.14 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Horizon Kinetics moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Horizon Kinetics Inflation moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Horizon Kinetics Correlation With Market

Modest diversification

The correlation between Horizon Kinetics Inflation and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Horizon Kinetics Inflation 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 Horizon Kinetics Inflation. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with Horizon Etf

0.68	PSP	Invesco Global Listed	Pair Corr
0.92	VRAI	Virtus Real Asset	Pair Corr
0.72	GXTG	Global X Thematic	Pair Corr
0.61	FORH	Formidable ETF	Pair Corr
0.72	SAGP	Advisorsa Inner	Pair Corr
0.76	CVX	Chevron Corp	Pair Corr
0.68	BAC	Bank of America	Pair Corr

Related Correlations Analysis

	IVOL	PFIX	SVAL	FRDM	PDBC
IVOL		-0.01	0.01	0.38	0.41	IVOL
PFIX	-0.01		-0.63	-0.12	0.57	PFIX
SVAL	0.01	-0.63		0.01	-0.33	SVAL
FRDM	0.38	-0.12	0.01		0.48	FRDM
PDBC	0.41	0.57	-0.33	0.48		PDBC
	IVOL	PFIX	SVAL	FRDM	PDBC

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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

PDBC	+ 0.57	PFIX
PDBC	+ 0.48	FRDM
PDBC	+ 0.41	IVOL
FRDM	+ 0.38	IVOL
SVAL	+ 0.01	IVOL
FRDM	+ 0.01	SVAL

High negative correlations

SVAL	- 0.63	PFIX
PDBC	- 0.33	SVAL
FRDM	- 0.12	PFIX
PFIX	- 0.01	IVOL

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
IVOL	0.33	(0.01)	(0.02)	(0.04)	0.48	(0.35)	0.68	(0.79)	2.30
PFIX	1.83	(0.09)	0.00	1.85	0.00	0.00	4.03	(4.18)	9.66
SVAL	0.82	(0.20)	0.00	(0.27)	0.00	0.00	1.82	(2.02)	5.15
FRDM	0.85	0.10	0.08	0.24	0.95	(0.91)	1.88	(1.84)	4.82
PDBC	0.57	0.07	0.08	(10.73)	0.64	(0.60)	1.32	(1.24)	4.29

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