Henderson International Correlations

Summary

HFOAXDelisted Fund

USD 19.57 0.00 0.00%

The current 90-days correlation between Henderson International and Henderson European Focus is -0.01 (i.e., Good diversification). The correlation of Henderson International 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.

Henderson International Correlation With Market

Modest diversification

The correlation between Henderson International Opport and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Henderson International Opport 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. 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 Henderson Mutual Fund

0.63	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr
0.7	T	ATT Inc Aggressive Push	Pair Corr

Moving against Henderson Mutual Fund

0.54	GAAKX	Gmo Alternative Allo	Pair Corr
0.54	GAAGX	Gmo Alternative Allo	Pair Corr
0.34	FSPSX	Fidelity International	Pair Corr
0.63	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.37	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.35	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Related Correlations Analysis

	HFEAX	NEFZX	TGVAX	GFAFX	IGNAX
HFEAX		0.11	0.86	-0.61	-0.07	HFEAX
NEFZX	0.11		0.3	0.38	0.49	NEFZX
TGVAX	0.86	0.3		-0.37	0.09	TGVAX
GFAFX	-0.61	0.38	-0.37		0.74	GFAFX
IGNAX	-0.07	0.49	0.09	0.74		IGNAX
	HFEAX	NEFZX	TGVAX	GFAFX	IGNAX

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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

TGVAX	+ 0.86	HFEAX
IGNAX	+ 0.74	GFAFX
IGNAX	+ 0.49	NEFZX
GFAFX	+ 0.38	NEFZX
TGVAX	+ 0.3	NEFZX
NEFZX	+ 0.11	HFEAX

High negative correlations

GFAFX	- 0.61	HFEAX
GFAFX	- 0.37	TGVAX
IGNAX	- 0.07	HFEAX

Risk-Adjusted Indicators

There is a big difference between Henderson Mutual Fund performing well and Henderson International 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 Henderson International'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
HFEAX	0.72	(0.18)	0.00	(0.27)	0.00	0.00	1.03	(1.98)	4.46
NEFZX	0.17	0.00	(0.44)	0.19	0.14	(0.20)	0.40	(0.41)	1.14
TGVAX	0.63	(0.16)	0.00	(1.51)	0.00	0.00	1.41	(1.33)	7.23
GFAFX	0.65	0.02	0.01	0.14	0.86	(0.66)	1.34	(1.64)	4.42
IGNAX	0.77	(0.07)	(0.09)	0.02	1.13	(0.75)	1.71	(1.62)	4.43

Henderson International Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Henderson International mutual fund to make a market-neutral strategy. Peer analysis of Henderson International could also be used in its relative valuation, which is a method of valuing Henderson International by comparing valuation metrics with similar companies.

Henderson European Focus Loomis Sayles Strategic Thornburg International Value Growth Fund Of Ivy Natural Resources American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp Home Depot International Business Machines

Risk & Return

Correlation

Still Interested in Henderson International Opportunities?

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