Horizon Kinetics Correlations

INFL Etf

USD 42.99 1.24 2.97%

The current 90-days correlation between Horizon Kinetics Inf and Quadratic Interest Rate is 0.02 (i.e., Significant 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

Very weak diversification

The correlation between Horizon Kinetics Inflation and DJI is 0.55 (i.e., Very weak 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

0.87	PSP	Invesco Global Listed	Pair Corr
0.77	GXTG	Global X Thematic	Pair Corr
0.93	TMAT	Main Thematic Innovation Low Volatility	Pair Corr
0.77	SAGP	Advisorsa Inner	Pair Corr
0.93	UPRO	ProShares UltraPro SP500	Pair Corr
0.95	QTJA	Innovator ETFs Trust	Pair Corr
0.83	QTOC	Innovator ETFs Trust	Pair Corr
0.82	XTOC	Innovator ETFs Trust	Pair Corr
0.95	QTAP	Innovator Growth 100	Pair Corr
0.95	TSJA	TSJA	Pair Corr
0.96	XTJA	Innovator ETFs Trust	Pair Corr
0.95	DSJA	DSJA	Pair Corr
0.96	XDJA	Innovator ETFs Trust	Pair Corr
0.95	XTAP	Innovator Equity Acc	Pair Corr
0.88	WMT	Walmart Aggressive Push	Pair Corr
0.96	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.76	T	ATT Inc Aggressive Push	Pair Corr
0.84	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.93	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.77	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.88	HPQ	HP Inc	Pair Corr
0.73	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr
0.8	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr

Moving against Horizon Etf

0.58	CTEC	Global X CleanTech	Pair Corr
0.51	PBD	Invesco Global Clean	Pair Corr
0.89	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.76	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.63	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.51	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	IVOL	PFIX	SVAL	FRDM	PDBC
IVOL		-0.92	-0.77	0.34	-0.34	IVOL
PFIX	-0.92		0.67	-0.11	0.44	PFIX
SVAL	-0.77	0.67		-0.32	0.16	SVAL
FRDM	0.34	-0.11	-0.32		0.53	FRDM
PDBC	-0.34	0.44	0.16	0.53		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

SVAL	+ 0.67	PFIX
PDBC	+ 0.53	FRDM
PDBC	+ 0.44	PFIX
FRDM	+ 0.34	IVOL
PDBC	+ 0.16	SVAL

High negative correlations

PFIX	- 0.92	IVOL
SVAL	- 0.77	IVOL
PDBC	- 0.34	IVOL
FRDM	- 0.32	SVAL
FRDM	- 0.11	PFIX

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	0.42	(0.10)	0.00	2.59	0.00	0.00	0.67	(0.97)	3.45
PFIX	1.61	0.22	0.11	0.39	1.53	(1.87)	3.72	(2.90)	11.64
SVAL	1.11	(0.01)	0.08	0.11	0.93	(1.43)	2.52	(1.94)	11.42
FRDM	0.88	(0.11)	0.00	(0.16)	0.00	0.00	1.93	(1.80)	6.15
PDBC	0.88	0.04	(0.06)	1.71	1.10	(0.91)	1.75	(1.95)	4.26

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