Horizon Active Correlations

AIRIX Fund

USD 8.05 0.01 0.12%

The current 90-days correlation between Horizon Active Income and Morningstar Defensive Bond is 0.7 (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

Poor diversification

The correlation between Horizon Active Income and DJI is 0.7 (i.e., Poor 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 gross domestic product.

Moving together with Horizon Mutual Fund

0.77	ARANX	Horizon Active Risk	Pair Corr
0.77	ARAAX	Horizon Active Risk	Pair Corr
0.75	AAANX	Horizon Active Asset	Pair Corr
0.73	HNDDX	Horizon Active Dividend	Pair Corr
0.74	USRAX	Horizon Defensive Equity	Pair Corr
0.83	USRTX	Horizon Defensive Equity	Pair Corr
0.74	HADRX	Horizon Defined Risk	Pair Corr
0.73	HADUX	Horizon Active Dividend	Pair Corr
0.75	HASAX	Horizon Active Asset	Pair Corr
0.99	AIHAX	Horizon Active Income	Pair Corr
0.99	AIMNX	Horizon Active Income	Pair Corr
0.96	DODIX	Dodge Income	Pair Corr
0.96	DOXIX	Dodge Cox Income	Pair Corr
0.8	FIWGX	Strategic Advisers	Pair Corr
0.65	MWTNX	Metropolitan West Total	Pair Corr
0.68	MWTSX	Metropolitan West Total	Pair Corr
0.87	PTTPX	Pimco Total Return	Pair Corr
0.9	PTRRX	Total Return	Pair Corr
0.9	PTRAX	Total Return	Pair Corr
0.87	PTTRX	Total Return	Pair Corr
0.91	PDBSX	Prudential Total Return	Pair Corr
0.62	EKWDX	Wells Fargo Advantage	Pair Corr
0.65	PMPIX	Precious Metals Ultr Steady Growth	Pair Corr
0.71	JAAAX	Alternative Asset	Pair Corr
0.77	FWMMX	American Funds Washington	Pair Corr
0.74	JOF	Japan Smaller Capita	Pair Corr
0.69	GBCIX	Gabelli Blue	Pair Corr
0.73	TCIWX	Tiaa Cref International	Pair Corr
0.64	MPEMX	Mondrian Emerging Markets	Pair Corr
0.61	FSHAX	Nuveen Short Term	Pair Corr
0.75	TLQIX	Tiaa Cref Lifecycle	Pair Corr
0.7	RIGFX	International Growth And	Pair Corr
0.72	VEVCX	Victory Sycamore Est	Pair Corr
0.64	FSYJX	Fidelity Sustainable	Pair Corr

Related Correlations Analysis

	TFBIX	RULFX	ARTFX	FHYIX	BXHCX	MBSAX	AAEZX	MSTBX
TFBIX		0.82	0.85	0.99	0.84	0.71	0.66	0.7	TFBIX
RULFX	0.82		0.92	0.81	0.94	0.85	0.88	0.89	RULFX
ARTFX	0.85	0.92		0.85	0.97	0.86	0.86	0.82	ARTFX
FHYIX	0.99	0.81	0.85		0.84	0.75	0.67	0.7	FHYIX
BXHCX	0.84	0.94	0.97	0.84		0.86	0.88	0.84	BXHCX
MBSAX	0.71	0.85	0.86	0.75	0.86		0.91	0.91	MBSAX
AAEZX	0.66	0.88	0.86	0.67	0.88	0.91		0.94	AAEZX
MSTBX	0.7	0.89	0.82	0.7	0.84	0.91	0.94		MSTBX
	TFBIX	RULFX	ARTFX	FHYIX	BXHCX	MBSAX	AAEZX	MSTBX

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
TFBIX	0.06	0.00	(0.35)	0.10	0.00	(0.14)	0.20	(0.10)	0.69
RULFX	0.04	0.00	0.00	0.45	0.00	0.00	0.10	(0.10)	0.60
ARTFX	0.09	0.01	(0.42)	0.14	0.00	(0.18)	0.22	(0.11)	0.66
FHYIX	0.08	0.00	(0.33)	(0.35)	0.00	(0.15)	0.22	(0.22)	0.66
BXHCX	0.13	0.02	(0.23)	1.82	0.00	(0.20)	0.25	(0.25)	0.86
MBSAX	0.21	0.02	(0.12)	0.22	0.10	(0.26)	0.37	(0.44)	2.24
AAEZX	0.15	0.01	(0.19)	0.12	0.00	(0.21)	0.29	(0.39)	1.08
MSTBX	0.05	0.00	(0.52)	0.03	0.00	(0.11)	0.10	(0.10)	0.31

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Horizon Active Correlations

Horizon Active Correlation With Market

Poor diversification

Moving together with Horizon Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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