Horizon Kinetics Correlations

INFL Etf

USD 45.10 0.35 0.78%

The current 90-days correlation between Horizon Kinetics Inf and Goldman Sachs Equal is 0.66 (i.e., Poor 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

Poor diversification

The correlation between Horizon Kinetics Inflation and DJI is 0.62 (i.e., Poor 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.

Build AI portfolio with Horizon Etf

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

0.65	SAGP	Advisorsa Inner	Pair Corr
0.64	JPM	JPMorgan Chase	Pair Corr

Moving against Horizon Etf

0.45	GXTG	Global X Thematic Symbol Change	Pair Corr
0.35	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	GSEW	EPS	FTGS	EQTY	RSSL	JEMA	NTSX	VTWG	DFAR	SPGM
GSEW		0.64	0.76	0.87	0.91	0.51	0.72	0.87	0.2	0.75	GSEW
EPS	0.64		0.08	0.83	0.68	0.87	0.89	0.53	-0.22	0.96	EPS
FTGS	0.76	0.08		0.4	0.61	0.08	0.38	0.75	0.43	0.27	FTGS
EQTY	0.87	0.83	0.4		0.88	0.67	0.78	0.73	-0.06	0.88	EQTY
RSSL	0.91	0.68	0.61	0.88		0.54	0.75	0.95	0.02	0.77	RSSL
JEMA	0.51	0.87	0.08	0.67	0.54		0.85	0.46	-0.16	0.91	JEMA
NTSX	0.72	0.89	0.38	0.78	0.75	0.85		0.71	0.04	0.93	NTSX
VTWG	0.87	0.53	0.75	0.73	0.95	0.46	0.71		0.12	0.66	VTWG
DFAR	0.2	-0.22	0.43	-0.06	0.02	-0.16	0.04	0.12		-0.17	DFAR
SPGM	0.75	0.96	0.27	0.88	0.77	0.91	0.93	0.66	-0.17		SPGM
	GSEW	EPS	FTGS	EQTY	RSSL	JEMA	NTSX	VTWG	DFAR	SPGM

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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

SPGM	+ 0.96	EPS
VTWG	+ 0.95	RSSL
SPGM	+ 0.93	NTSX
RSSL	+ 0.91	GSEW
SPGM	+ 0.91	JEMA
NTSX	+ 0.89	EPS

High negative correlations

DFAR	- 0.22	EPS
SPGM	- 0.17	DFAR
DFAR	- 0.16	JEMA
DFAR	- 0.06	EQTY

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
GSEW	0.62	(0.04)	(0.05)	0.01	0.82	(0.63)	1.15	(1.41)	2.91
EPS	0.53	(0.01)	(0.02)	0.05	0.74	(0.51)	1.14	(0.98)	2.73
FTGS	0.61	(0.08)	0.00	(0.04)	0.00	0.00	1.09	(1.38)	3.26
EQTY	0.65	0.01	0.01	0.07	0.81	(0.66)	1.25	(1.62)	3.51
RSSL	1.00	(0.03)	(0.01)	0.03	1.25	(1.00)	1.91	(1.93)	5.47
JEMA	0.76	0.07	0.06	0.13	0.94	(0.83)	1.67	(1.27)	4.92
NTSX	0.56	(0.03)	(0.04)	0.03	0.72	(0.58)	1.13	(1.10)	3.10
VTWG	1.15	(0.05)	(0.01)	0.02	1.47	(1.10)	1.93	(2.29)	7.00
DFAR	0.56	(0.07)	0.00	(0.09)	0.00	0.00	1.08	(1.18)	3.75
SPGM	0.57	0.01	0.00	0.07	0.81	(0.55)	1.08	(1.26)	3.18

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