Horizon Active Correlations

ARAAX Fund

USD 25.58 0.18 0.71%

The current 90-days correlation between Horizon Active Risk and Sprott Gold Equity 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 Risk and DJI is 0.63 (i.e., 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

0.95	HNDRX	Horizon Defined Risk	Pair Corr
0.96	USRTX	Horizon Defensive Equity	Pair Corr
0.95	HADRX	Horizon Defined Risk	Pair Corr
0.78	HSMBX	Hartford Small Cap	Pair Corr
0.85	HSMNX	Horizon Defensive Smmd	Pair Corr
0.79	HESAX	Horizon Esg Defensive	Pair Corr
0.7	GPMFX	Guidepath Managed Futures	Pair Corr
0.64	PQTAX	Pimco Trends Managed	Pair Corr
0.77	PQTNX	Pimco Trends Managed	Pair Corr
0.65	PQTIX	Aa Pimco Tr	Pair Corr
0.63	WARCX	Wells Fargo Advantage	Pair Corr

Moving against Horizon Mutual Fund

0.5	AIMNX	Horizon Active Income	Pair Corr
0.49	HESGX	Horizon Esg Defensive	Pair Corr
0.41	HTFNX	Horizon Funds	Pair Corr
0.4	HTFAX	Horizon Funds	Pair Corr
0.38	AIRIX	Horizon Active Income	Pair Corr
0.31	ARANX	Horizon Active Risk	Pair Corr

Related Correlations Analysis

	SGDLX	BRXAX	SWYGX	SFAAX	FGTRX	ANNPX	ANZAX	RYOFX	FMIHX	FGFRX
SGDLX		0.64	0.46	0.68	0.52	0.6	0.6	0.84	0.65	0.68	SGDLX
BRXAX	0.64		0.25	0.84	0.76	0.84	0.84	0.6	0.76	0.71	BRXAX
SWYGX	0.46	0.25		0.2	0.52	0.19	0.19	0.62	0.23	0.5	SWYGX
SFAAX	0.68	0.84	0.2		0.65	0.87	0.87	0.68	0.86	0.71	SFAAX
FGTRX	0.52	0.76	0.52	0.65		0.71	0.71	0.61	0.77	0.76	FGTRX
ANNPX	0.6	0.84	0.19	0.87	0.71		1.0	0.58	0.92	0.57	ANNPX
ANZAX	0.6	0.84	0.19	0.87	0.71	1.0		0.58	0.92	0.57	ANZAX
RYOFX	0.84	0.6	0.62	0.68	0.61	0.58	0.58		0.64	0.73	RYOFX
FMIHX	0.65	0.76	0.23	0.86	0.77	0.92	0.92	0.64		0.66	FMIHX
FGFRX	0.68	0.71	0.5	0.71	0.76	0.57	0.57	0.73	0.66		FGFRX
	SGDLX	BRXAX	SWYGX	SFAAX	FGTRX	ANNPX	ANZAX	RYOFX	FMIHX	FGFRX

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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
SGDLX	1.73	0.21	0.08	0.29	2.37	(1.83)	3.76	(3.99)	11.37
BRXAX	0.50	0.13	0.12	0.55	0.29	(0.62)	1.29	(0.82)	2.39
SWYGX	0.48	(0.04)	(0.08)	0.03	0.77	(0.44)	0.90	(1.10)	3.38
SFAAX	0.63	0.26	0.29	(2.59)	0.00	(0.76)	0.89	(0.87)	13.82
FGTRX	0.43	0.03	(0.02)	0.15	0.47	(0.45)	0.87	(0.86)	2.47
ANNPX	0.92	0.20	0.16	0.80	0.68	(1.16)	1.65	(1.58)	12.48
ANZAX	0.92	0.19	0.15	0.79	0.69	(1.15)	1.66	(1.56)	12.15
RYOFX	1.31	0.12	0.12	0.14	1.25	(1.55)	2.60	(2.60)	13.60
FMIHX	0.94	0.27	0.33	0.38	0.31	(1.23)	1.60	(1.12)	18.64
FGFRX	0.77	0.05	0.01	0.17	1.25	(0.80)	1.33	(1.34)	11.99

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