Horizon Active Correlations

ARAAX Fund

USD 25.22 0.22 0.88%

Current 90-days correlation between Horizon Active Risk and Federated International Leaders is 0.71 (i.e., 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.

Horizon Active Correlation With Market

Very poor diversification

Across the chosen horizon, ARAAX and DJI show a correlation of 0.86 and fall into the Very poor diversification bucket. In portfolio terms, the overlap visualization shows how much shared movement remains after both positions are combined.

Use Trending Equities to better understand diversified portfolio construction. Such insight adds context to allocation decisions within a diversified portfolio. This includes a position in Horizon Active Risk within the portfolio mix. 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

1.0	ARANX	Horizon Active Risk	Pair Corr
0.95	HNDDX	Horizon Active Dividend	Pair Corr
1.0	ACRIX	Horizon Active Risk	Pair Corr
0.96	USRTX	Horizon Defensive Equity	Pair Corr
0.95	HADUX	Horizon Active Dividend	Pair Corr
0.95	HASAX	Horizon Active Asset	Pair Corr
0.95	HASIX	Horizon Active Asset	Pair Corr
0.67	HTFAX	Horizon Funds	Pair Corr
0.79	AIMNX	Horizon Active Income	Pair Corr
0.84	PAALX	All Asset Fund	Pair Corr
0.84	PATRX	Pimco All Asset	Pair Corr
0.84	PAAIX	All Asset Fund	Pair Corr
0.84	PALPX	Pimco All Asset	Pair Corr
0.84	PASAX	All Asset Fund	Pair Corr
0.84	PASCX	All Asset Fund	Pair Corr
0.84	PAANX	Pimco All Asset	Pair Corr
0.84	PAUPX	Pimco All Asset	Pair Corr
0.84	PAUIX	Pimco All Asset	Pair Corr
0.83	WARRX	Wells Fargo Advantage	Pair Corr
0.8	LIIAX	Columbia Porate Income	Pair Corr
0.75	SRINX	Columbia Porate Income	Pair Corr
0.63	WRHIX	Ivy High Income	Pair Corr
0.68	WHIAX	Ivy High Income	Pair Corr
0.72	IHIFX	Ivy High Income	Pair Corr
0.73	IVHIX	Ivy High Income	Pair Corr
0.96	RYEUX	Europe 125x Strategy	Pair Corr
0.9	LAAFX	Lord Abbett Affiliated	Pair Corr
0.94	GAFNX	Asg Global Alternatives	Pair Corr
0.96	GBFAX	Emerging Markets	Pair Corr
0.91	NBRAX	Neuberger Berman Mid	Pair Corr
0.91	DFEVX	Emerging Markets Value	Pair Corr
0.83	DVRUX	Ubs Dividend Ruler	Pair Corr
0.71	DPFFX	Delaware Diversified	Pair Corr
0.95	OYMIX	Oppenheimer Moderate	Pair Corr
0.9	ICEUX	Mainstay Epoch Inter	Pair Corr
0.72	PSSMX	Smallcap Sp 600	Pair Corr
0.78	ADKSX	Adirondack Small Cap	Pair Corr
0.95	DISMX	Dfa International	Pair Corr

Related Correlations Analysis

	SGDLX	BRXAX	SWYGX	SFAAX	FGTRX	ANNPX	ANZAX	RYOFX	FMIHX	FGFRX
SGDLX		0.89	0.89	0.63	0.82	0.83	0.83	0.87	0.61	0.84	SGDLX
BRXAX	0.89		0.97	0.62	0.93	0.85	0.85	0.9	0.8	0.93	BRXAX
SWYGX	0.89	0.97		0.61	0.97	0.86	0.87	0.89	0.8	0.92	SWYGX
SFAAX	0.63	0.62	0.61		0.64	0.82	0.82	0.78	0.58	0.82	SFAAX
FGTRX	0.82	0.93	0.97	0.64		0.86	0.87	0.84	0.8	0.92	FGTRX
ANNPX	0.83	0.85	0.86	0.82	0.86		1.0	0.89	0.7	0.97	ANNPX
ANZAX	0.83	0.85	0.87	0.82	0.87	1.0		0.89	0.7	0.97	ANZAX
RYOFX	0.87	0.9	0.89	0.78	0.84	0.89	0.89		0.81	0.92	RYOFX
FMIHX	0.61	0.8	0.8	0.58	0.8	0.7	0.7	0.81		0.8	FMIHX
FGFRX	0.84	0.93	0.92	0.82	0.92	0.97	0.97	0.92	0.8		FGFRX
	SGDLX	BRXAX	SWYGX	SFAAX	FGTRX	ANNPX	ANZAX	RYOFX	FMIHX	FGFRX

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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
SGDLX	2.07	0.41	0.10	0.41	3.17	-2.05	4.84	-6.28	17.67
BRXAX	0.59	0.09	0.09	0.15	0.87	-0.59	1.29	-1.38	5.52
SWYGX	0.40	0.03	0.05	0.05	0.54	-0.40	0.64	-0.86	3.05
SFAAX	0.59	0.18	0.33	0.37	0.14	-0.78	0.67	-0.87	14.53
FGTRX	0.48	0.00	0.00	0.00	0.63	-0.49	0.78	-1.16	3.14
ANNPX	0.85	0.22	0.27	0.31	0.55	-1.06	1.65	-1.49	13.89
ANZAX	0.84	0.22	0.27	0.31	0.57	-1.05	1.66	-1.47	13.57
RYOFX	1.15	0.30	0.22	0.17	0.99	-1.37	2.40	-2.21	13.72
FMIHX	0.64	-0.01	0.00	-0.01	0.00	0.00	1.48	-1.39	3.83
FGFRX	0.77	0.18	0.16	0.22	0.91	-0.83	1.40	-1.51	11.39

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Horizon Active Correlations

Horizon Active Correlation With Market

Very poor diversification

Moving together with Horizon Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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