Horizon Active Correlations

AIMNX Fund

USD 8.06 0.02 0.25%

The current 90-days correlation between Horizon Active Income and Tiaa Cref Real Estate is 0.62 (i.e., Poor 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

Modest diversification

The correlation between Horizon Active Income and DJI is 0.2 (i.e., Modest 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 various price indices.

Moving together with Horizon Mutual Fund

0.98	MWTNX	Metropolitan West Total	Pair Corr
0.98	MWTSX	Metropolitan West Total	Pair Corr
0.98	PTTPX	Pimco Total Return	Pair Corr
0.99	PTRRX	Total Return	Pair Corr
0.99	PTRAX	Total Return	Pair Corr
0.98	PTTRX	Total Return	Pair Corr
0.98	FIWGX	Strategic Advisers	Pair Corr
0.9	DODIX	Dodge Income	Pair Corr
0.97	MWTIX	Metropolitan West Total	Pair Corr
0.98	MWTRX	Metropolitan West Total	Pair Corr
0.83	MGGYX	Mirova Global Green	Pair Corr
0.84	MGGAX	Mirova Global Green	Pair Corr
0.72	BXECX	Barings Emerging Markets	Pair Corr
0.77	BXEIX	Barings Emerging Markets	Pair Corr
0.76	BXEAX	Barings Emerging Markets	Pair Corr
0.73	HLDIX	Hartford Emerging	Pair Corr
0.72	HLDRX	Hartford Emerging	Pair Corr
0.75	HLDAX	Hartford Emerging	Pair Corr
0.71	HLDCX	Hartford Emerging	Pair Corr
0.69	HLDTX	Hartford Emerging	Pair Corr
0.7	PG	Procter Gamble	Pair Corr
0.73	CAT	Caterpillar Earnings Call This Week	Pair Corr
0.68	DD	Dupont De Nemours Earnings Call This Week	Pair Corr

Moving against Horizon Mutual Fund

0.54

Verizon Communications

Pair Corr

Related Correlations Analysis

	TRRSX	VGSIX	RRRZX	TIREX	MRESX
TRRSX		1.0	1.0	1.0	1.0	TRRSX
VGSIX	1.0		0.99	1.0	1.0	VGSIX
RRRZX	1.0	0.99		1.0	1.0	RRRZX
TIREX	1.0	1.0	1.0		1.0	TIREX
MRESX	1.0	1.0	1.0	1.0		MRESX
	TRRSX	VGSIX	RRRZX	TIREX	MRESX

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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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
TRRSX	0.87	(0.07)	(0.26)	1.51	(1.65)	5.50
VGSIX	0.90	(0.07)	(0.22)	1.48	(1.71)	5.53
RRRZX	0.90	(0.09)	(0.37)	1.61	(1.68)	5.76
TIREX	0.87	(0.07)	(0.26)	1.45	(1.63)	5.42
MRESX	0.88	(0.08)	(0.29)	1.43	(1.73)	5.43

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