Horizon Active Correlations

AIRIX Fund

USD 8.12 0.01 0.12%

The current 90-days correlation between Horizon Active Income and Horizon Active Dividend is 0.34 (i.e., Weak 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 0.78 (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

0.83	ARANX	Horizon Active Risk	Pair Corr
0.83	ARAAX	Horizon Active Risk	Pair Corr
0.8	AAANX	Horizon Active Asset	Pair Corr
0.84	HNDDX	Horizon Active Dividend	Pair Corr
0.74	HNDRX	Horizon Defined Risk	Pair Corr
0.83	ACRIX	Horizon Active Risk	Pair Corr
0.78	USRAX	Horizon Defensive Equity	Pair Corr
0.87	USRTX	Horizon Defensive Equity	Pair Corr
0.74	HADRX	Horizon Defined Risk	Pair Corr
0.83	HADUX	Horizon Active Dividend	Pair Corr
0.8	HASAX	Horizon Active Asset	Pair Corr
0.8	HASIX	Horizon Active Asset	Pair Corr
0.88	HSMBX	Hartford Small Cap	Pair Corr
0.88	HSMNX	Horizon Defensive Smmd	Pair Corr
0.83	HTFNX	Horizon Funds	Pair Corr
0.83	HTFAX	Horizon Funds	Pair Corr
0.99	AIHAX	Horizon Active Income	Pair Corr
0.93	AIMNX	Horizon Active Income	Pair Corr
0.68	HESGX	Horizon Esg Defensive	Pair Corr
0.92	DODIX	Dodge Income	Pair Corr
0.92	DOXIX	Dodge Cox Income	Pair Corr
0.88	FIWGX	Strategic Advisers	Pair Corr
0.82	MWTNX	Metropolitan West Total	Pair Corr
0.84	MWTSX	Metropolitan West Total	Pair Corr
0.93	PTTPX	Pimco Total Return	Pair Corr
0.92	PTRRX	Total Return	Pair Corr
0.93	PTRAX	Total Return	Pair Corr
0.93	PTTRX	Total Return	Pair Corr
0.9	PDBSX	Prudential Total Return	Pair Corr
0.87	PDI	Pimco Dynamic Income	Pair Corr

Moving against Horizon Mutual Fund

0.85	UIPIX	Ultrashort Mid Cap	Pair Corr
0.68	CESGX	Coho Relative Value	Pair Corr
0.67	TCTGX	Transamerica Cleartrack	Pair Corr
0.67	TDKTX	Cleartrack 2015 Class	Pair Corr
0.67	TCTJX	Transamerica Cleartrack	Pair Corr
0.67	TCSUX	Cleartrack 2020 Class	Pair Corr

Related Correlations Analysis

	ARANX	ARAAX	AAANX	HNDDX	HNDRX	ACRIX	USRAX	USRTX	HADRX	HADUX
ARANX		1.0	0.97	0.98	0.97	1.0	0.93	0.98	0.96	0.98	ARANX
ARAAX	1.0		0.97	0.98	0.97	1.0	0.93	0.98	0.96	0.98	ARAAX
AAANX	0.97	0.97		0.93	0.93	0.97	0.99	0.95	0.92	0.93	AAANX
HNDDX	0.98	0.98	0.93		0.95	0.98	0.88	0.99	0.95	1.0	HNDDX
HNDRX	0.97	0.97	0.93	0.95		0.97	0.88	0.94	1.0	0.95	HNDRX
ACRIX	1.0	1.0	0.97	0.98	0.97		0.93	0.98	0.96	0.98	ACRIX
USRAX	0.93	0.93	0.99	0.88	0.88	0.93		0.93	0.88	0.88	USRAX
USRTX	0.98	0.98	0.95	0.99	0.94	0.98	0.93		0.93	0.98	USRTX
HADRX	0.96	0.96	0.92	0.95	1.0	0.96	0.88	0.93		0.95	HADRX
HADUX	0.98	0.98	0.93	1.0	0.95	0.98	0.88	0.98	0.95		HADUX
	ARANX	ARAAX	AAANX	HNDDX	HNDRX	ACRIX	USRAX	USRTX	HADRX	HADUX

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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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ARANX	0.55	0.03	0.02	0.11	0.62	(0.59)	1.01	(1.17)	3.42
ARAAX	0.55	0.03	0.01	0.11	0.63	(0.61)	0.97	(1.17)	3.40
AAANX	0.63	0.10	0.10	0.20	0.60	(0.70)	1.27	(1.31)	5.96
HNDDX	0.47	0.01	(0.01)	0.09	0.59	(0.45)	0.96	(0.96)	3.10
HNDRX	0.30	0.00	(0.09)	0.07	0.39	(0.30)	0.62	(0.86)	2.10
ACRIX	0.55	0.03	0.02	0.11	0.62	(0.59)	1.00	(1.20)	3.41
USRAX	0.59	0.14	0.18	0.27	0.31	(0.70)	1.10	(1.00)	9.05
USRTX	0.47	0.03	0.01	0.12	0.46	(0.50)	1.10	(1.00)	2.92
HADRX	0.31	0.00	(0.09)	0.06	0.40	(0.29)	0.63	(0.88)	2.10
HADUX	0.47	0.01	(0.01)	0.09	0.60	(0.45)	0.96	(0.95)	3.11

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