Highland Floating Rate Fund Market Value
| HFRO Fund | USD 5.60 0.03 0.53% |
| Symbol | Highland |
Highland Floating 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Highland Floating's fund what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Highland Floating.
| 12/19/2024 |
| 01/18/2025 |
If you would invest 0.00 in Highland Floating on December 19, 2024 and sell it all today you would earn a total of 0.00 from holding Highland Floating Rate or generate 0.0% return on investment in Highland Floating over 30 days. Highland Floating is related to or competes with Neuberger Berman, SRH Total, Nuveen Municipal, Doubleline Income, Blackrock Innovation, BlackRock Health, and Virtus Allianzgi. Highland Funds I - Highland Opportunities and Income Fund is a close-ended fixed income mutual fund launched by Highland... More
Highland Floating Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Highland Floating's fund current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Highland Floating Rate upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.04) | |||
| Maximum Drawdown | 11.52 | |||
| Value At Risk | (2.14) | |||
| Potential Upside | 1.88 |
Highland Floating Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Highland Floating's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Highland Floating's standard deviation. In reality, there are many statistical measures that can use Highland Floating historical prices to predict the future Highland Floating's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.05) | |||
| Total Risk Alpha | (0.09) | |||
| Treynor Ratio | (0.30) |
Highland Floating Rate Backtested Returns
Highland Floating Rate holds Efficiency (Sharpe) Ratio of -0.0061, which attests that the entity had a -0.0061% return per unit of risk over the last 3 months. Highland Floating Rate exposes twenty-three different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check out Highland Floating's Standard Deviation of 1.61, market risk adjusted performance of (0.29), and Risk Adjusted Performance of (0.02) to validate the risk estimate we provide. The fund retains a Market Volatility (i.e., Beta) of 0.17, which attests to not very significant fluctuations relative to the market. As returns on the market increase, Highland Floating's returns are expected to increase less than the market. However, during the bear market, the loss of holding Highland Floating is expected to be smaller as well.
Auto-correlation | 0.40 |
Average predictability
Highland Floating Rate has average predictability. Overlapping area represents the amount of predictability between Highland Floating time series from 19th of December 2024 to 3rd of January 2025 and 3rd of January 2025 to 18th of January 2025. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Highland Floating Rate price movement. The serial correlation of 0.4 indicates that just about 40.0% of current Highland Floating price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.4 | |
| Spearman Rank Test | -0.01 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Highland Floating Rate lagged returns against current returns
Autocorrelation, which is Highland Floating fund's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Highland Floating's fund expected returns. We can calculate the autocorrelation of Highland Floating returns to help us make a trade decision. For example, suppose you find that Highland Floating has exhibited high autocorrelation historically, and you observe that the fund is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Highland Floating regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Highland Floating fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Highland Floating fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Highland Floating fund over time.
Current vs Lagged Prices |
| Timeline |
Highland Floating Lagged Returns
When evaluating Highland Floating's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Highland Floating fund have on its future price. Highland Floating autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Highland Floating autocorrelation shows the relationship between Highland Floating fund current value and its past values and can show if there is a momentum factor associated with investing in Highland Floating Rate.
Regressed Prices |
| Timeline |
Pair Trading with Highland Floating
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Highland Floating position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Highland Floating will appreciate offsetting losses from the drop in the long position's value.Moving against Highland Fund
| 0.61 | MURSX | Msif Real Estate | PairCorr |
| 0.34 | MWCBX | Metropolitan West Porate | PairCorr |
| 0.32 | AQMIX | Aqr Managed Futures | PairCorr |
The ability to find closely correlated positions to Highland Floating could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Highland Floating when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Highland Floating - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Highland Floating Rate to buy it.
The correlation of Highland Floating 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Highland Floating moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Highland Floating Rate moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Highland Floating can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Other Information on Investing in Highland Fund
Highland Floating financial ratios help investors to determine whether Highland Fund is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Highland with respect to the benefits of owning Highland Floating security.
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