Horizon Active Correlations

ACRIX Fund

USD 27.16 0.13 0.48%

The current 90-days correlation between Horizon Active Risk and Prudential Core Conservative is 0.06 (i.e., Significant 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

Significant diversification

The correlation between Horizon Active Risk and DJI is 0.02 (i.e., Significant 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 gross domestic product.

Moving together with Horizon Mutual Fund

0.61	RYMEX	Commodities Strategy	Pair Corr
0.61	RYMBX	Commodities Strategy	Pair Corr
0.77	SPGSX	State Street Premier	Pair Corr
0.66	CSCO	Cisco Systems	Pair Corr
0.75	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.74	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.75	HD	Home Depot	Pair Corr
0.75	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.82	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr

Moving against Horizon Mutual Fund

0.46	KF	Korea Closed	Pair Corr
0.48	PG	Procter Gamble	Pair Corr
0.45	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.45	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.35	KO	Coca Cola Aggressive Push	Pair Corr

Related Correlations Analysis

	PQCNX	SCAAX	XHNWX	MDBLX	EVFCX	ODIDX	JDJRX
PQCNX		-0.44	0.37	0.96	0.47	-0.69	0.54	PQCNX
SCAAX	-0.44		0.39	-0.24	0.53	0.81	-0.02	SCAAX
XHNWX	0.37	0.39		0.56	0.66	0.3	0.06	XHNWX
MDBLX	0.96	-0.24	0.56		0.62	-0.48	0.49	MDBLX
EVFCX	0.47	0.53	0.66	0.62		0.13	0.59	EVFCX
ODIDX	-0.69	0.81	0.3	-0.48	0.13		-0.34	ODIDX
JDJRX	0.54	-0.02	0.06	0.49	0.59	-0.34		JDJRX
	PQCNX	SCAAX	XHNWX	MDBLX	EVFCX	ODIDX	JDJRX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

MDBLX	+ 0.96	PQCNX
ODIDX	+ 0.81	SCAAX
EVFCX	+ 0.66	XHNWX
EVFCX	+ 0.62	MDBLX
JDJRX	+ 0.59	EVFCX
MDBLX	+ 0.56	XHNWX

High negative correlations

ODIDX	- 0.69	PQCNX
ODIDX	- 0.48	MDBLX
SCAAX	- 0.44	PQCNX
JDJRX	- 0.34	ODIDX
MDBLX	- 0.24	SCAAX
JDJRX	- 0.02	SCAAX

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
PQCNX	0.23	(0.04)	0.00	(0.74)	0.00	0.00	0.46	(0.69)	1.40
SCAAX	0.28	(0.01)	(0.21)	0.06	0.26	(0.35)	0.70	(0.54)	1.41
XHNWX	0.14	0.01	(0.26)	(2.20)	0.21	(0.16)	0.31	(0.46)	1.39
MDBLX	0.22	(0.02)	0.00	(0.67)	0.00	0.00	0.37	(0.60)	1.35
EVFCX	0.16	(0.02)	(0.45)	(0.03)	0.17	(0.21)	0.40	(0.31)	1.12
ODIDX	0.07	0.04	0.00	(1.39)	0.00	0.00	0.11	(0.11)	0.44
JDJRX	0.42	(0.06)	0.00	(0.06)	0.00	0.00	1.00	(0.89)	2.54

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