Horizon Kinetics Correlations

INFL Etf

USD 48.55 0.39 0.80%

The current 90-days correlation between Horizon Kinetics Inf and Johnson Johnson is 0.07 (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

Poor diversification

The correlation between Horizon Kinetics Inflation and DJI is 0.72 (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

0.88	PBD	Invesco Global Clean	Pair Corr
0.89	VRAI	Virtus Real Asset	Pair Corr
0.67	CTEC	Global X CleanTech	Pair Corr
0.7	FORH	Formidable ETF	Pair Corr
0.89	SAGP	Advisorsa Inner	Pair Corr
0.84	CBSE	Elevation Series Trust	Pair Corr
0.85	PCLN	2023 ETF	Pair Corr
0.65	JOYY	JOYY Inc Symbol Change	Pair Corr
0.67	IYR	iShares Real Estate Sell-off Trend	Pair Corr
0.84	DUKH	Ocean Park High	Pair Corr
0.89	CVX	Chevron Corp	Pair Corr
0.77	INTC	Intel Aggressive Push	Pair Corr
0.73	AA	Alcoa Corp	Pair Corr
0.77	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.82	BA	Boeing	Pair Corr
0.78	JNJ	Johnson Johnson	Pair Corr
0.62	HD	Home Depot	Pair Corr

Moving against Horizon Etf

0.36	TMAT	Main Thematic Innovation	Pair Corr
0.33	GXTG	Global X Thematic Symbol Change	Pair Corr
0.56	MMM	3M Company	Pair Corr

Related Correlations Analysis

	PFE	PG	CVX	MRK	MCD	MMM	BA	CAT	JNJ
PFE		0.2	0.56	0.66	0.66	-0.2	0.44	0.67	0.81	PFE
PG	0.2		0.44	-0.05	0.09	-0.25	0.01	0.18	0.22	PG
CVX	0.56	0.44		0.58	0.19	-0.49	0.78	0.86	0.68	CVX
MRK	0.66	-0.05	0.58		0.57	-0.28	0.71	0.7	0.88	MRK
MCD	0.66	0.09	0.19	0.57		-0.28	0.28	0.43	0.7	MCD
MMM	-0.2	-0.25	-0.49	-0.28	-0.28		-0.5	-0.43	-0.41	MMM
BA	0.44	0.01	0.78	0.71	0.28	-0.5		0.82	0.67	BA
CAT	0.67	0.18	0.86	0.7	0.43	-0.43	0.82		0.79	CAT
JNJ	0.81	0.22	0.68	0.88	0.7	-0.41	0.67	0.79		JNJ
	PFE	PG	CVX	MRK	MCD	MMM	BA	CAT	JNJ

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

JNJ	+ 0.88	MRK
CAT	+ 0.86	CVX
CAT	+ 0.82	BA
JNJ	+ 0.81	PFE
JNJ	+ 0.79	CAT
BA	+ 0.78	CVX

High negative correlations

BA	- 0.5	MMM
MMM	- 0.49	CVX
CAT	- 0.43	MMM
JNJ	- 0.41	MMM
MMM	- 0.28	MCD
MMM	- 0.28	MRK

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
PFE	1.08	0.10	0.06	0.16	1.28	(1.09)	2.24	(2.42)	7.97
PG	0.94	0.07	0.03	1.25	1.07	(1.05)	1.84	(1.55)	5.66
CVX	1.09	0.22	0.13	2.13	1.14	(1.18)	2.61	(1.86)	9.56
MRK	1.30	0.43	0.30	0.61	1.09	(1.61)	3.59	(1.98)	8.09
MCD	0.82	0.07	0.05	0.19	0.88	(0.89)	2.16	(1.49)	4.64
MMM	1.12	(0.13)	0.00	(0.07)	0.00	0.00	1.77	(2.10)	9.29
BA	1.31	0.11	0.05	0.20	1.66	(1.38)	2.79	(3.13)	13.27
CAT	1.51	0.21	0.11	0.16	1.91	(1.56)	3.53	(4.03)	8.72
JNJ	0.79	0.34	0.37	2.22	0.34	(0.98)	2.29	(1.39)	5.56

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