Horizon Active Correlations

AAANX Fund

USD 15.26 0.07 0.46%

The current 90-days correlation between Horizon Active Asset and Small Cap Value Profund is 0.8 (i.e., Very poor diversification). The correlation of Horizon Active 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 Active Correlation With Market

Very poor diversification

The correlation between Horizon Active Asset and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Horizon Active Asset and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Horizon Active Asset. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Horizon Mutual Fund

1.0	ARANX	Horizon Active Risk	Pair Corr
1.0	ARAAX	Horizon Active Risk	Pair Corr
0.66	HNDDX	Horizon Active Dividend	Pair Corr
0.65	HNDRX	Horizon Defined Risk	Pair Corr
0.76	ACRIX	Horizon Active Risk	Pair Corr
0.75	HASAX	Horizon Active Asset	Pair Corr
0.75	HASIX	Horizon Active Asset	Pair Corr
0.75	HTFAX	Horizon Funds	Pair Corr
0.73	AIHAX	Horizon Active Income	Pair Corr
0.79	PAALX	All Asset Fund	Pair Corr
0.79	PATRX	Pimco All Asset	Pair Corr
0.79	PAAIX	All Asset Fund	Pair Corr
0.79	PALPX	Pimco All Asset	Pair Corr
0.8	PASAX	All Asset Fund	Pair Corr
0.8	PASCX	All Asset Fund	Pair Corr
0.79	PAANX	Pimco All Asset	Pair Corr
0.76	PAUPX	Pimco All Asset	Pair Corr
0.76	PAUIX	Pimco All Asset	Pair Corr
0.85	WARRX	Wells Fargo Advantage	Pair Corr
0.86	SMPSX	Semiconductor Ultrasector	Pair Corr
0.86	SMPIX	Semiconductor Ultrasector	Pair Corr
0.69	RSNRX	Victory Global Natural	Pair Corr
0.69	RSNYX	Victory Global Natural	Pair Corr
0.68	RGNCX	Victory Global Natural	Pair Corr
0.77	NSTCX	Neuberger Berman Str	Pair Corr
0.88	FSIAX	Fidelity Advisor Str	Pair Corr
0.72	FHTFX	Federated Municipal High	Pair Corr
0.61	BEMIX	Brandes Emerging Markets	Pair Corr
0.79	LCAOX	Lazard Capital Allocator	Pair Corr
0.77	JAJBX	John Hancock Variable	Pair Corr
0.66	GAUIX	Gabelli Utilities	Pair Corr

Moving against Horizon Mutual Fund

0.4	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr
0.4	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.39	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.39	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.39	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr

Related Correlations Analysis

	SVPSX	UMPIX	UAPIX	MLPIX
SVPSX		0.82	0.76	0.79	SVPSX
UMPIX	0.82		0.56	0.97	UMPIX
UAPIX	0.76	0.56		0.49	UAPIX
MLPIX	0.79	0.97	0.49		MLPIX
	SVPSX	UMPIX	UAPIX	MLPIX

Risk-Adjusted Indicators

There is a big difference between Horizon Mutual Fund performing well and Horizon Active Mutual Fund 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 Active's 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
SVPSX	0.93	(0.05)	(0.02)	0.03	1.14	(0.98)	2.08	(2.08)	5.65
UMPIX	1.47	(0.11)	(0.02)	0.01	1.95	(1.51)	3.24	(3.18)	8.93
UAPIX	1.88	(0.03)	0.03	0.05	2.44	(1.88)	4.28	(3.95)	11.10
MLPIX	0.71	(0.06)	(0.06)	0.01	0.93	(0.75)	1.46	(1.27)	4.46

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