Horizon Kinetics Correlations

SPAQ Etf

USD 100.64 0.07 0.07%

The current 90-days correlation between Horizon Kinetics SPAC and Freedom Day Dividend is -0.19 (i.e., Good diversification). The correlation of Horizon Kinetics 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.

Horizon Kinetics Correlation With Market

Good diversification

The correlation between Horizon Kinetics SPAC and DJI is -0.2 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Horizon Kinetics SPAC and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Horizon Kinetics SPAC. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Horizon Etf

0.61	VUG	Vanguard Growth Index	Pair Corr
0.61	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.65	BAC	Bank of America Aggressive Push	Pair Corr
0.64	JPM	JPMorgan Chase Sell-off Trend	Pair Corr

Moving against Horizon Etf

0.74	IHF	iShares Healthcare	Pair Corr
0.73	XLV	Health Care Select	Pair Corr
0.72	IYH	iShares Healthcare ETF	Pair Corr
0.71	VHT	Vanguard Health Care	Pair Corr
0.71	IXJ	iShares Global Healthcare	Pair Corr
0.7	FHLC	Fidelity MSCI Health	Pair Corr
0.7	BND	Vanguard Total Bond	Pair Corr
0.67	VEA	Vanguard FTSE Developed	Pair Corr
0.44	IBB	iShares Biotechnology ETF	Pair Corr
0.39	ARKG	ARK Genomic Revolution Low Volatility	Pair Corr
0.56	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.56	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr
0.36	VZ	Verizon Communications Aggressive Push	Pair Corr
0.36	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.35	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG	DIVI
MBOX		0.27	0.3	-0.56	0.64	0.81	0.06	0.81	-0.31	MBOX
DIEM	0.27		0.9	-0.34	0.03	0.37	0.48	0.2	0.31	DIEM
MCHI	0.3	0.9		-0.56	0.29	0.54	0.09	0.4	-0.06	MCHI
DIPS	-0.56	-0.34	-0.56		-0.76	-0.86	0.39	-0.8	0.68	DIPS
DISO	0.64	0.03	0.29	-0.76		0.81	-0.57	0.87	-0.79	DISO
DIVB	0.81	0.37	0.54	-0.86	0.81		-0.21	0.96	-0.62	DIVB
DIVD	0.06	0.48	0.09	0.39	-0.57	-0.21		-0.29	0.86	DIVD
DIVG	0.81	0.2	0.4	-0.8	0.87	0.96	-0.29		-0.69	DIVG
DIVI	-0.31	0.31	-0.06	0.68	-0.79	-0.62	0.86	-0.69		DIVI
	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG	DIVI

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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

DIVG	+ 0.96	DIVB
MCHI	+ 0.9	DIEM
DIVG	+ 0.87	DISO
DIVI	+ 0.86	DIVD
DIVB	+ 0.81	MBOX
DIVG	+ 0.81	MBOX

High negative correlations

DIVB	- 0.86	DIPS
DIVG	- 0.8	DIPS
DIVI	- 0.79	DISO
DISO	- 0.76	DIPS
DIVI	- 0.69	DIVG
DIVI	- 0.62	DIVB

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
MBOX	0.60	(0.05)	(0.08)	0.06	0.63	(0.71)	1.25	(1.29)	3.49
DIEM	0.84	(0.05)	(0.11)	(0.02)	1.15	(0.85)	1.97	(2.01)	7.08
MCHI	1.91	0.16	0.02	1.03	2.53	(2.15)	5.40	(3.25)	19.77
DIPS	1.55	(0.11)	0.00	0.27	0.00	0.00	2.54	(3.20)	13.88
DISO	0.81	0.18	0.11	0.59	0.73	(0.97)	1.67	(1.33)	7.68
DIVB	0.53	0.01	(0.02)	0.13	0.32	(0.67)	1.04	(0.81)	3.81
DIVD	0.49	(0.09)	0.00	(0.06)	0.00	0.00	0.91	(0.98)	2.20
DIVG	0.48	0.02	(0.04)	0.15	0.40	(0.53)	1.10	(0.86)	3.07
DIVI	0.63	(0.16)	0.00	(0.31)	0.00	0.00	1.02	(1.58)	3.95

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