Horizon Active Correlations

Mutual Funds . USA . 
Fund . Horizon Active Risk
ARAAX Fund  USD 26.08  0.06  0.23%   
The current 90-days correlation between Horizon Active Risk and Federated International Leaders is 0.11 (i.e., Average 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

Almost no diversification

The correlation between Horizon Active Risk and DJI is 0.95 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Horizon Active Risk 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 Risk. 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 nation.

Moving together with Horizon Mutual Fund

  1.0ARANX Horizon Active RiskPairCorr
  0.97AAANX Horizon Active AssetPairCorr
  0.97HNDDX Horizon Active DividendPairCorr
  0.98HNDRX Horizon Defined RiskPairCorr
  1.0ACRIX Horizon Active RiskPairCorr
  0.92USRAX Horizon Defensive EquityPairCorr
  0.98USRTX Horizon Defensive EquityPairCorr
  0.98HADRX Horizon Defined RiskPairCorr
  0.97HADUX Horizon Active DividendPairCorr
  0.97HASAX Horizon Active AssetPairCorr
  0.97HASIX Horizon Active AssetPairCorr
  0.93HSMBX Hartford Small CapPairCorr
  0.93HSMNX Horizon Defensive SmmdPairCorr
  0.66HTFNX Horizon FundsPairCorr
  0.71HTFAX Horizon FundsPairCorr
  0.85AIHAX Horizon Active IncomePairCorr
  0.86AIMNX Horizon Active IncomePairCorr
  0.84AIRIX Horizon Active IncomePairCorr
  0.78HESAX Horizon Esg DefensivePairCorr
  0.85HESGX Horizon Esg DefensivePairCorr
  0.92PAALX All Asset FundPairCorr
  0.92PATRX Pimco All AssetPairCorr
  0.92PAAIX All Asset FundPairCorr
  0.92PALPX Pimco All AssetPairCorr
  0.9PASAX All Asset FundPairCorr
  0.92PASCX All Asset FundPairCorr
  0.92PAANX Pimco All AssetPairCorr
  0.91PAUPX Pimco All AssetPairCorr
  0.91PAUIX Pimco All AssetPairCorr
  0.88WARRX Wells Fargo AdvantagePairCorr
  0.74RYMEX Commodities StrategyPairCorr
  0.78RYMJX Commodities StrategyPairCorr
  0.78RYMBX Commodities StrategyPairCorr
  0.9BRUFX Bruce Fund BrucePairCorr
  0.83SPGSX State Street PremierPairCorr
  0.89KF Korea ClosedPairCorr
  0.92PFNUX Pimco Dynamic BondPairCorr
  0.83UBPSX Ultralatin America Steady GrowthPairCorr
  0.93RBHHX American Funds 2045PairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SGDLX  1.95  0.64  0.16 (2.19) 2.46 
(2.20)
 4.84 
(3.98)
 17.67 
BRXAX  0.56  0.21  0.17  4.67  0.36 
(0.68)
 1.37 
(1.01)
 3.13 
SWYGX  0.42  0.02 (0.03) 0.13  0.45 
(0.44)
 0.94 
(0.86)
 2.42 
SFAAX  0.63  0.23  0.20 (1.10) 0.14 
(0.79)
 1.05 
(0.88)
 14.53 
FGTRX  0.46  0.01 (0.04) 0.11  0.53 
(0.50)
 0.94 
(0.97)
 2.81 
ANNPX  0.88  0.18  0.17  0.34  0.61 
(1.08)
 1.69 
(1.57)
 13.53 
ANZAX  0.88  0.21  0.15  1.61  0.66 
(1.11)
 1.69 
(1.57)
 13.21 
RYOFX  1.17  0.24  0.25  0.24  0.77 
(1.50)
 2.77 
(2.09)
 13.60 
FMIHX  0.94  0.29  0.36  0.38  0.17 
(1.23)
 1.71 
(1.10)
 19.78 
FGFRX  0.74  0.30  0.24 (17.90) 0.41 
(0.85)
 1.56 
(1.34)
 9.58 

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