Horizon Active Correlations

AIRIX Fund

USD 8.05 0.01 0.12%

The current 90-days correlation between Horizon Active Income and Global Real Estate is 0.39 (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 0.75 (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

0.8	ARANX	Horizon Active Risk	Pair Corr
0.8	ARAAX	Horizon Active Risk	Pair Corr
0.78	HNDDX	Horizon Active Dividend	Pair Corr
0.86	USRTX	Horizon Defensive Equity	Pair Corr
0.78	HADUX	Horizon Active Dividend	Pair Corr
0.73	HESAX	Horizon Esg Defensive	Pair Corr
0.97	DODIX	Dodge Income	Pair Corr
0.84	DOXIX	Dodge Cox Income	Pair Corr
0.67	FIWGX	Strategic Advisers	Pair Corr
0.69	MWTSX	Metropolitan West Total	Pair Corr
0.89	PTTPX	Pimco Total Return	Pair Corr
0.91	PTRRX	Total Return	Pair Corr
0.91	PTRAX	Total Return	Pair Corr
0.89	PTTRX	Total Return	Pair Corr
0.91	PDBSX	Prudential Total Return	Pair Corr
0.71	HLDIX	Hartford Emerging	Pair Corr
0.72	HLDRX	Hartford Emerging	Pair Corr
0.69	HLDAX	Hartford Emerging	Pair Corr
0.71	HLDCX	Hartford Emerging	Pair Corr
0.71	HLDTX	Hartford Emerging	Pair Corr
0.75	GSXPX	Goldman Sachs Small	Pair Corr
0.63	JDMNX	Janus Enterprise	Pair Corr
0.75	CBLSX	Cb Large Cap	Pair Corr
0.73	CUBAX	Calvert Unconstrained	Pair Corr
0.75	HBATX	Hartford Moderate	Pair Corr
0.79	SWJRX	Schwab Monthly Income	Pair Corr
0.7	MHESX	Mh Elite Select	Pair Corr
0.72	BWBFX	Baron Wealthbuilder	Pair Corr
0.77	MDIJX	Mfs International	Pair Corr
0.78	LGBCX	Loomis Sayles Investment	Pair Corr
0.83	VGSTX	Vanguard Star	Pair Corr
0.78	AMRFX	American Mutual	Pair Corr

Related Correlations Analysis

	DREYX	FIKMX	DNREX	IRGIX	CREYX	JERAX	IRSYX	RRSCX
DREYX		0.84	0.68	0.87	0.81	0.85	0.59	0.89	DREYX
FIKMX	0.84		0.49	0.77	0.77	0.81	0.81	0.84	FIKMX
DNREX	0.68	0.49		0.77	0.73	0.86	0.09	0.77	DNREX
IRGIX	0.87	0.77	0.77		0.93	0.86	0.41	0.99	IRGIX
CREYX	0.81	0.77	0.73	0.93		0.78	0.38	0.93	CREYX
JERAX	0.85	0.81	0.86	0.86	0.78		0.5	0.9	JERAX
IRSYX	0.59	0.81	0.09	0.41	0.38	0.5		0.47	IRSYX
RRSCX	0.89	0.84	0.77	0.99	0.93	0.9	0.47		RRSCX
	DREYX	FIKMX	DNREX	IRGIX	CREYX	JERAX	IRSYX	RRSCX

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
DREYX	0.74	(0.01)	(0.03)	0.01	1.01	(0.73)	1.63	(1.40)	6.37
FIKMX	0.17	0.00	(0.11)	0.02	0.20	(0.19)	0.33	(0.41)	0.99
DNREX	0.48	(0.02)	0.00	(0.14)	0.00	0.00	0.97	(1.12)	2.77
IRGIX	0.45	(0.02)	(0.06)	(0.02)	0.68	(0.44)	0.94	(1.31)	2.96
CREYX	0.60	(0.03)	0.00	(0.06)	0.00	0.00	1.05	(1.24)	3.33
JERAX	0.45	0.02	(0.02)	0.77	0.66	(0.44)	0.92	(1.00)	2.87
IRSYX	1.01	0.39	0.39	(3.87)	0.19	(1.21)	1.17	(1.53)	28.04
RRSCX	0.45	(0.02)	(0.05)	(0.01)	0.68	(0.44)	0.84	(1.19)	2.85

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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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