Horizon Active Correlations

ARAAX Fund

USD 26.06 0.23 0.89%

The current 90-days correlation between Horizon Active Risk and Federated International Leaders is 0.64 (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

Almost no diversification

The correlation between Horizon Active Risk and DJI is 0.95 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Horizon Active Risk 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 Risk. 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

1.0	ARANX	Horizon Active Risk	Pair Corr
0.97	AAANX	Horizon Active Asset	Pair Corr
0.98	HNDDX	Horizon Active Dividend	Pair Corr
0.97	HNDRX	Horizon Defined Risk	Pair Corr
1.0	ACRIX	Horizon Active Risk	Pair Corr
0.93	USRAX	Horizon Defensive Equity	Pair Corr
0.98	USRTX	Horizon Defensive Equity	Pair Corr
0.96	HADRX	Horizon Defined Risk	Pair Corr
0.98	HADUX	Horizon Active Dividend	Pair Corr
0.97	HASAX	Horizon Active Asset	Pair Corr
0.97	HASIX	Horizon Active Asset	Pair Corr
0.93	HSMBX	Hartford Small Cap	Pair Corr
0.93	HSMNX	Horizon Defensive Smmd	Pair Corr
0.87	HTFNX	Horizon Funds	Pair Corr
0.87	HTFAX	Horizon Funds	Pair Corr
0.83	AIHAX	Horizon Active Income	Pair Corr
0.81	AIMNX	Horizon Active Income	Pair Corr
0.83	AIRIX	Horizon Active Income	Pair Corr
0.76	HESAX	Horizon Esg Defensive	Pair Corr
0.86	HESGX	Horizon Esg Defensive	Pair Corr
0.89	PAALX	All Asset Fund	Pair Corr
0.89	PATRX	Pimco All Asset	Pair Corr
0.89	PAAIX	All Asset Fund	Pair Corr
0.89	PALPX	Pimco All Asset	Pair Corr
0.89	PASAX	All Asset Fund	Pair Corr
0.89	PASCX	All Asset Fund	Pair Corr
0.89	PAANX	Pimco All Asset	Pair Corr
0.88	PAUPX	Pimco All Asset	Pair Corr
0.88	PAUIX	Pimco All Asset	Pair Corr
0.89	WARRX	Wells Fargo Advantage	Pair Corr
0.92	OPGSX	Oppenheimer Gold Spec Steady Growth	Pair Corr
0.89	KF	Korea Closed	Pair Corr
0.9	EKWAX	Wells Fargo Advantage	Pair Corr
0.92	GOLDX	Gabelli Gold Steady Growth	Pair Corr
0.91	FKRCX	Franklin Gold Precious	Pair Corr
0.9	UJPIX	Ultrajapan Profund	Pair Corr
0.94	UNWPX	World Precious Minerals	Pair Corr
0.92	FSAGX	Gold Portfolio Gold Steady Growth	Pair Corr
0.92	SGGDX	First Eagle Gold Steady Growth	Pair Corr

Related Correlations Analysis

	SGDLX	BRXAX	SWYGX	SFAAX	FGTRX	ANNPX	ANZAX	RYOFX	FGFRX
SGDLX		0.93	0.92	0.81	0.9	0.9	0.9	0.92	0.92	SGDLX
BRXAX	0.93		0.97	0.78	0.94	0.91	0.91	0.93	0.95	BRXAX
SWYGX	0.92	0.97		0.79	0.99	0.91	0.91	0.94	0.94	SWYGX
SFAAX	0.81	0.78	0.79		0.81	0.9	0.9	0.89	0.9	SFAAX
FGTRX	0.9	0.94	0.99	0.81		0.92	0.92	0.92	0.93	FGTRX
ANNPX	0.9	0.91	0.91	0.9	0.92		1.0	0.92	0.99	ANNPX
ANZAX	0.9	0.91	0.91	0.9	0.92	1.0		0.92	0.99	ANZAX
RYOFX	0.92	0.93	0.94	0.89	0.92	0.92	0.92		0.95	RYOFX
FGFRX	0.92	0.95	0.94	0.9	0.93	0.99	0.99	0.95		FGFRX
	SGDLX	BRXAX	SWYGX	SFAAX	FGTRX	ANNPX	ANZAX	RYOFX	FGFRX

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
SGDLX	2.06	0.44	0.13	0.46	2.75	(2.26)	4.84	(3.99)	17.67
BRXAX	0.54	0.15	0.17	0.31	0.39	(0.63)	1.31	(1.01)	3.13
SWYGX	0.40	0.03	(0.01)	0.12	0.43	(0.41)	0.87	(0.86)	2.53
SFAAX	0.61	0.19	0.26	0.44	0.00	(0.77)	0.90	(0.88)	14.53
FGTRX	0.45	0.01	(0.03)	0.09	0.53	(0.49)	0.83	(0.97)	2.91
ANNPX	0.84	0.23	0.27	0.40	0.39	(1.05)	1.69	(1.49)	13.53
ANZAX	0.83	0.23	0.26	0.39	0.42	(1.04)	1.69	(1.47)	13.21
RYOFX	1.16	0.31	0.30	0.24	0.71	(1.46)	2.77	(2.09)	13.72
FGFRX	0.72	0.21	0.23	0.33	0.43	(0.84)	1.56	(1.34)	9.58

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Horizon Active Correlations

Horizon Active Correlation With Market

Almost no diversification

Moving together with Horizon Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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