Horizon Defensive Correlations

Mutual Funds . USA . 
Fund . Horizon Defensive Equity
USRAX Fund  USD 33.51  0.04  0.12%   
The current 90-days correlation between Horizon Defensive Equity and Putnam Retirement Advantage is -0.28 (i.e., Very good diversification). The correlation of Horizon Defensive 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 Defensive Correlation With Market

Good diversification

The correlation between Horizon Defensive Equity and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Horizon Defensive Equity and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Horizon Defensive Equity. 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

  0.87ARANX Horizon Active RiskPairCorr
  0.87ARAAX Horizon Active RiskPairCorr
  0.97AAANX Horizon Active AssetPairCorr
  0.88HNDDX Horizon Active DividendPairCorr
  0.87HNDRX Horizon Defined RiskPairCorr
  0.87ACRIX Horizon Active RiskPairCorr
  0.89USRTX Horizon Defensive EquityPairCorr
  0.97HADRX Horizon Defined RiskPairCorr
  0.88HADUX Horizon Active DividendPairCorr
  0.87HASAX Horizon Active AssetPairCorr
  0.87HASIX Horizon Active AssetPairCorr
  0.78HSMBX Hartford Small CapPairCorr
  0.78HSMNX Horizon Defensive SmmdPairCorr
  0.92HTFNX Horizon FundsPairCorr
  0.77AIHAX Horizon Active IncomePairCorr
  0.84AIMNX Horizon Active IncomePairCorr
  0.83AIRIX Horizon Active IncomePairCorr
  0.89HESAX Horizon Esg DefensivePairCorr
  0.89HESGX Horizon Esg DefensivePairCorr
  0.65VTSAX Vanguard Total StockPairCorr
  0.63VFIAX Vanguard 500 IndexPairCorr
  0.63VTSMX Vanguard Total StockPairCorr
  0.63VITSX Vanguard Total StockPairCorr
  0.64VSMPX Vanguard Total StockPairCorr
  0.64VSTSX Vanguard Total StockPairCorr
  0.63VFINX Vanguard 500 IndexPairCorr
  0.64VFFSX Vanguard 500 IndexPairCorr
  0.63VINIX Vanguard InstitutionalPairCorr
  0.97VIIIX Vanguard InstitutionalPairCorr
  0.65PDI Pimco Dynamic IncomePairCorr
  0.91FTCAX Templeton Strained BondPairCorr
  0.61PGFCX Pgim ConservativePairCorr

Moving against Horizon Mutual Fund

  0.97USPSX Profunds UltrashortPairCorr
  0.96USPIX Profunds UltrashortPairCorr
  0.82UIPIX Ultrashort Mid CapPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Horizon Mutual Fund performing well and Horizon Defensive 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 Defensive'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.

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