Horizon Active Correlations

HASIX Fund

USD 14.06 0.14 0.99%

The current 90-days correlation between Horizon Active Asset and Bbh Intermediate Municipal is -0.11 (i.e., Good 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 Asset and DJI is 0.96 (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 Asset 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 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 gross domestic product.

Moving together with Horizon Mutual Fund

0.94	ARANX	Horizon Active Risk	Pair Corr
0.94	ARAAX	Horizon Active Risk	Pair Corr
1.0	AAANX	Horizon Active Asset	Pair Corr
0.99	HNDDX	Horizon Active Dividend	Pair Corr
0.95	HNDRX	Horizon Defined Risk	Pair Corr
0.94	ACRIX	Horizon Active Risk	Pair Corr
1.0	USRAX	Horizon Defensive Equity	Pair Corr
1.0	USRTX	Horizon Defensive Equity	Pair Corr
0.99	HADRX	Horizon Defined Risk	Pair Corr
0.99	HADUX	Horizon Active Dividend	Pair Corr
1.0	HASAX	Horizon Active Asset	Pair Corr
0.98	HSMBX	Hartford Small Cap	Pair Corr
0.98	HSMNX	Horizon Defensive Smmd	Pair Corr
0.96	HESAX	Horizon Esg Defensive	Pair Corr
0.96	HESGX	Horizon Esg Defensive	Pair Corr
0.95	PAALX	All Asset Fund	Pair Corr
0.95	PATRX	Pimco All Asset	Pair Corr
0.95	PAAIX	All Asset Fund	Pair Corr
0.95	PALPX	Pimco All Asset	Pair Corr
0.87	PASAX	All Asset Fund	Pair Corr
0.95	PASCX	All Asset Fund	Pair Corr
0.95	PAANX	Pimco All Asset	Pair Corr
0.87	PAUPX	Pimco All Asset	Pair Corr
0.93	PAUIX	Pimco All Asset	Pair Corr
0.75	PDI	Pimco Dynamic Income	Pair Corr
0.9	FTCAX	Templeton Strained Bond	Pair Corr

Moving against Horizon Mutual Fund

0.98	USPSX	Profunds Ultrashort	Pair Corr
0.98	UIPIX	Ultrashort Mid Cap	Pair Corr
0.95	USPIX	Profunds Ultrashort	Pair Corr
0.85	TCTGX	Transamerica Cleartrack	Pair Corr
0.85	TDKTX	Cleartrack 2015 Class	Pair Corr
0.85	TCTJX	Transamerica Cleartrack	Pair Corr
0.85	TCSUX	Cleartrack 2020 Class	Pair Corr

Related Correlations Analysis

	BBINX	TCGXX	TWTIX	MSTPX	FGNSX	OWCAX	GABTX
BBINX		0.57	0.98	0.94	0.85	0.98	0.66	BBINX
TCGXX	0.57		0.47	0.36	0.77	0.54	0.76	TCGXX
TWTIX	0.98	0.47		0.98	0.75	0.94	0.54	TWTIX
MSTPX	0.94	0.36	0.98		0.65	0.9	0.45	MSTPX
FGNSX	0.85	0.77	0.75	0.65		0.89	0.88	FGNSX
OWCAX	0.98	0.54	0.94	0.9	0.89		0.71	OWCAX
GABTX	0.66	0.76	0.54	0.45	0.88	0.71		GABTX
	BBINX	TCGXX	TWTIX	MSTPX	FGNSX	OWCAX	GABTX

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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
BBINX	0.20	0.00	(0.16)	0.06	0.38	(0.21)	0.39	(0.80)	2.21
TCGXX	0.03	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.01
TWTIX	0.23	0.00	(0.14)	0.15	0.47	(0.23)	0.47	(0.96)	2.72
MSTPX	0.22	(0.01)	(0.14)	0.20	0.45	(0.26)	0.31	(1.14)	2.94
FGNSX	0.06	0.01	(0.38)	(1.16)	0.00	(0.15)	0.20	(0.20)	0.50
OWCAX	0.16	0.00	(0.16)	(0.06)	0.31	(0.18)	0.32	(0.64)	1.71
GABTX	0.74	0.13	0.03	2.36	1.26	(0.72)	1.59	(1.62)	5.71

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