Horizon Active Correlations

Mutual Funds . USA . 
Fund . Horizon Active Income
AIHAX Fund  USD 8.19  0.01  0.12%   
The current 90-days correlation between Horizon Active Income and Horizon Active Dividend is 0.24 (i.e., Modest 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

Very weak diversification

The correlation between Horizon Active Income and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Horizon Active Income 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 Income. 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

  0.73ARANX Horizon Active RiskPairCorr
  0.73ARAAX Horizon Active RiskPairCorr
  0.67AAANX Horizon Active AssetPairCorr
  0.75HNDDX Horizon Active DividendPairCorr
  0.73ACRIX Horizon Active RiskPairCorr
  0.65USRAX Horizon Defensive EquityPairCorr
  0.78USRTX Horizon Defensive EquityPairCorr
  0.76HADUX Horizon Active DividendPairCorr
  0.69HASAX Horizon Active AssetPairCorr
  0.67HASIX Horizon Active AssetPairCorr
  0.86HSMNX Horizon Defensive SmmdPairCorr
  0.92AIMNX Horizon Active IncomePairCorr
  0.91AIRIX Horizon Active IncomePairCorr
  0.99DODIX Dodge IncomePairCorr
  0.95DOXIX Dodge Cox IncomePairCorr
  0.93FIWGX Strategic AdvisersPairCorr
  0.91MWTNX Metropolitan West TotalPairCorr
  0.92MWTSX Metropolitan West TotalPairCorr
  0.94PTTPX Pimco Total ReturnPairCorr
  0.94PTRRX Total ReturnPairCorr
  0.94PTRAX Total ReturnPairCorr
  0.94PTTRX Total ReturnPairCorr
  0.94PDBSX Prudential Total ReturnPairCorr
  0.83VTSNX Vanguard Total InterPairCorr
  0.84VTISX Vanguard Total InterPairCorr
  0.83VTPSX Vanguard Total InterPairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
ARANX  0.54  0.02  0.01  0.06  0.69 
(0.58)
 0.93 
(1.17)
 3.42 
ARAAX  0.55  0.02  0.01  0.06  0.70 
(0.59)
 0.92 
(1.17)
 3.40 
AAANX  0.63  0.08  0.08  0.13  0.69 
(0.69)
 1.10 
(1.31)
 5.96 
HNDDX  0.44  0.01  0.00  0.05  0.57 
(0.42)
 0.71 
(0.96)
 2.96 
HNDRX  0.28  0.00 (0.05) 0.04  0.38 
(0.27)
 0.49 
(0.58)
 2.10 
ACRIX  0.55  0.02  0.01  0.06  0.70 
(0.58)
 0.92 
(1.20)
 3.41 
USRAX  0.55  0.13  0.19  0.24  0.30 
(0.64)
 0.87 
(0.98)
 9.05 
USRTX  0.43  0.02  0.01  0.07  0.49 
(0.44)
 0.68 
(0.98)
 2.86 
HADRX  0.28  0.00 (0.05) 0.04  0.38 
(0.27)
 0.49 
(0.59)
 2.10 
HADUX  0.44  0.01  0.00  0.05  0.58 
(0.43)
 0.76 
(0.94)
 2.94 

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