Horizon Defined Correlations

HADRX Fund

USD 86.74 0.06 0.07%

The current 90-days correlation between Horizon Defined Risk and Deutsche Enhanced Modity is 0.23 (i.e., Modest diversification). The correlation of Horizon Defined 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 Defined Correlation With Market

Very poor diversification

The correlation between Horizon Defined Risk and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Horizon Defined Risk and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Horizon Defined 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 real.

Moving together with Horizon Mutual Fund

0.96	JHQCX	Jpmorgan Hedged Equity	Pair Corr
0.97	JHEQX	Jpmorgan Hedged Equity	Pair Corr
0.97	JHQAX	Jpmorgan Hedged Equity	Pair Corr
0.99	GTENX	Gateway Fund Class	Pair Corr
0.99	GATEX	Gateway Fund Class	Pair Corr
0.98	GTECX	Gateway Fund Class	Pair Corr
0.99	GTEYX	Gateway Fund Class	Pair Corr
0.97	JHDCX	Jpmorgan Hedged Equity	Pair Corr
0.97	JHDRX	Jpmorgan Hedged Equity	Pair Corr
0.97	JHDAX	Jpmorgan Hedged Equity	Pair Corr
0.77	SMPIX	Semiconductor Ultrasector Steady Growth	Pair Corr
0.73	SMPSX	Semiconductor Ultrasector Steady Growth	Pair Corr
0.85	FGADX	Franklin Gold Precious	Pair Corr
0.85	FGPMX	Franklin Gold And	Pair Corr
0.78	FKRCX	Franklin Gold Precious Steady Growth	Pair Corr
0.84	OCMAX	Ocm Mutual Fund	Pair Corr
0.96	CETFX	Morningstar Servative Etf	Pair Corr
0.82	UIVAX	Value Fund Value	Pair Corr
0.93	PEXMX	T Rowe Price	Pair Corr
0.84	RYBAX	Basic Materials	Pair Corr
0.84	GCSCX	Goldman Sachs Small	Pair Corr
0.88	WEIMX	Teton Westwood Mighty	Pair Corr
0.82	MIXNX	Mainstay Indexed Bond	Pair Corr
0.89	APDWX	Artisan Value Income	Pair Corr
0.87	JOF	Japan Smaller Capita	Pair Corr
0.62	ABNYX	Ab Bond Inflation	Pair Corr
0.83	HBLTX	Hartford Balanced	Pair Corr
0.91	HSSAX	Emerald Banking And	Pair Corr
0.81	FPUIX	New Hampshire Higher	Pair Corr
0.86	DIEYX	Dreyfus International	Pair Corr
0.65	LTFOX	Lord Abbett Affiliated	Pair Corr
0.86	CNEYX	Alger Concentrated Equity	Pair Corr
0.68	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr

Related Correlations Analysis

	ESMAX	OBMCX	DISSX	EAALX	CWVGX	CWVIX	DHMIX	POVSX	COVAX	SKIRX
ESMAX		0.95	0.76	0.71	0.84	0.84	0.78	0.96	0.8	0.85	ESMAX
OBMCX	0.95		0.77	0.79	0.89	0.9	0.85	0.93	0.84	0.77	OBMCX
DISSX	0.76	0.77		0.77	0.74	0.74	0.78	0.69	0.82	0.45	DISSX
EAALX	0.71	0.79	0.77		0.87	0.87	0.94	0.76	0.95	0.56	EAALX
CWVGX	0.84	0.89	0.74	0.87		1.0	0.94	0.91	0.86	0.73	CWVGX
CWVIX	0.84	0.9	0.74	0.87	1.0		0.94	0.91	0.86	0.73	CWVIX
DHMIX	0.78	0.85	0.78	0.94	0.94	0.94		0.85	0.92	0.66	DHMIX
POVSX	0.96	0.93	0.69	0.76	0.91	0.91	0.85		0.81	0.9	POVSX
COVAX	0.8	0.84	0.82	0.95	0.86	0.86	0.92	0.81		0.66	COVAX
SKIRX	0.85	0.77	0.45	0.56	0.73	0.73	0.66	0.9	0.66		SKIRX
	ESMAX	OBMCX	DISSX	EAALX	CWVGX	CWVIX	DHMIX	POVSX	COVAX	SKIRX

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Risk-Adjusted Indicators

There is a big difference between Horizon Mutual Fund performing well and Horizon Defined 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 Defined'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
ESMAX	0.71	0.06	0.05	0.11	0.83	(0.75)	1.29	(1.55)	4.22
OBMCX	1.11	0.12	0.08	0.16	1.35	(1.17)	2.11	(2.23)	7.69
DISSX	0.83	0.02	0.03	0.07	0.87	(0.98)	2.01	(1.72)	4.95
EAALX	0.80	0.24	0.31	0.49	0.19	(1.05)	1.38	(0.96)	16.32
CWVGX	0.68	0.13	0.14	0.22	0.54	(0.77)	1.38	(1.31)	7.95
CWVIX	0.68	0.12	0.13	0.21	0.56	(0.75)	1.38	(1.28)	7.55
DHMIX	0.88	0.27	0.30	0.35	0.48	(1.14)	2.16	(1.16)	8.07
POVSX	0.64	0.11	0.13	0.21	0.63	(0.72)	1.37	(1.12)	3.27
COVAX	0.99	0.28	0.30	0.30	0.49	(1.31)	2.36	(1.35)	14.33
SKIRX	0.70	0.21	0.22	0.68	0.44	(0.88)	1.58	(1.32)	3.20

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Horizon Defined Correlations

Horizon Defined Correlation With Market

Very poor diversification

Moving together with Horizon Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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