Horizon Active Correlations

Mutual Funds . USA . 
Fund . Horizon Active Risk
ARAAX Fund  USD 25.42  0.10  0.39%   
The current 90-days correlation between Horizon Active Risk and Sprott Gold Equity is 0.43 (i.e., Very 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

Very poor diversification

The correlation between Horizon Active Risk and DJI is 0.81 (i.e., Very poor 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

  0.91HNDRX Horizon Defined RiskPairCorr
  0.95USRTX Horizon Defensive EquityPairCorr
  0.92HADRX Horizon Defined RiskPairCorr
  0.87HADUX Horizon Active DividendPairCorr
  0.85HSMBX Hartford Small CapPairCorr
  0.84HSMNX Horizon Defensive SmmdPairCorr
  0.93HESAX Horizon Esg DefensivePairCorr
  0.9RRTRX T Rowe PricePairCorr
  0.74GRSPX Greenspring Fund RetailPairCorr
  0.83AOD Aberdeen Total DynamicPairCorr

Moving against Horizon Mutual Fund

  0.41AIMNX Horizon Active IncomePairCorr
  0.41AIRIX Horizon Active IncomePairCorr
  0.39HESGX Horizon Esg DefensivePairCorr
  0.32HTFNX Horizon FundsPairCorr
  0.31HTFAX Horizon FundsPairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SGDLX  1.76  0.25  0.09  0.30  2.37 
(1.88)
 3.76 
(3.99)
 11.37 
BRXAX  0.55  0.12  0.09  0.60  0.57 
(0.63)
 1.31 
(1.01)
 2.92 
SWYGX  0.48 (0.03)(0.06) 0.02  0.76 
(0.44)
 0.90 
(1.10)
 3.38 
SFAAX  0.63  0.23  0.25 (1.73) 0.17 
(0.74)
 1.05 
(0.88)
 13.82 
FGTRX  0.47  0.00 (0.02) 0.07  0.63 
(0.46)
 0.95 
(1.04)
 2.60 
ANNPX  0.94  0.17  0.18  0.25  0.72 
(1.17)
 1.69 
(1.70)
 12.32 
ANZAX  0.92  0.23  0.19  1.09  0.71 
(1.13)
 1.69 
(1.73)
 12.03 
RYOFX  1.31  0.10  0.10  0.11  1.29 
(1.54)
 2.60 
(2.60)
 13.60 
FMIHX  0.92  0.20  0.25  0.25  0.48 
(1.17)
 1.60 
(1.14)
 18.36 
FGFRX  0.81  0.07  0.01  0.71  1.34 
(0.80)
 1.33 
(1.52)
 11.99 

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