Horizon Active Correlations

ARANX Fund

USD 25.77 0.25 0.96%

The current 90-days correlation between Horizon Active Risk and Wesmark Government Bond is 0.24 (i.e., Modest 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 0.93 (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 employment.

Moving together with Horizon Mutual Fund

1.0	ARAAX	Horizon Active Risk	Pair Corr
0.97	HADUX	Horizon Active Dividend	Pair Corr
0.79	AIRIX	Horizon Active Income	Pair Corr
0.91	PAALX	All Asset Fund	Pair Corr
0.91	PATRX	Pimco All Asset	Pair Corr
0.9	PAAIX	All Asset Fund	Pair Corr
0.9	PALPX	Pimco All Asset	Pair Corr
0.89	PASAX	All Asset Fund	Pair Corr
0.91	PASCX	All Asset Fund	Pair Corr
0.91	PAANX	Pimco All Asset	Pair Corr
0.9	PAUPX	Pimco All Asset	Pair Corr
0.9	PAUIX	Pimco All Asset	Pair Corr
0.87	WARRX	Wells Fargo Advantage	Pair Corr
0.78	PFN	Pimco Income Strategy	Pair Corr
0.61	CIF	Mfs Intermediate High	Pair Corr
0.96	FSNQX	Fidelity Freedom 2030	Pair Corr
0.78	KMDNX	Kinetics Multi-disciplina	Pair Corr
0.99	HCVCX	The Hartford Servative	Pair Corr
0.71	FSENX	Fidelity Select Port	Pair Corr
0.86	TIYRX	Tiaa-cref High-yield	Pair Corr
0.87	FSRRX	Fidelity Strategic Real	Pair Corr
0.89	DCSVX	Dunham Small Cap	Pair Corr
0.95	ONMIX	Oppenheimer Moderate	Pair Corr
0.93	DFIEX	International E Equity	Pair Corr
0.9	JYHIX	John Hancock Focused	Pair Corr
0.93	JAADX	Jhvit International Small	Pair Corr
0.88	PCSVX	Pace Smallmedium Value	Pair Corr
0.95	CRLVX	Catholic Responsible	Pair Corr
0.78	TASZX	Third Avenue Small	Pair Corr
0.92	VSPMX	Vanguard Sp Mid	Pair Corr
0.82	BVEIX	Becker Value Equity	Pair Corr
0.85	ADVAX	Api Efficient Frontier	Pair Corr
0.93	FIDKX	Fidelity International	Pair Corr
0.82	MCSSX	Mainstay Mon Stock	Pair Corr

Moving against Horizon Mutual Fund

0.49	NXJ	Nuveen New Jersey	Pair Corr
0.38	XDSMX	Dreyfus Strategic	Pair Corr
0.37	XNXJX	Nuveen New Jersey	Pair Corr
0.52	XNBHX	Neuberger Berman Int	Pair Corr

Related Correlations Analysis

	SIGVX	USGFX	RYHJX	SGVDX	RGVEX	DPIGX	WMBDX
SIGVX		0.64	0.87	0.66	0.55	0.86	0.59	SIGVX
USGFX	0.64		0.34	0.72	0.98	0.86	0.93	USGFX
RYHJX	0.87	0.34		0.34	0.23	0.68	0.2	RYHJX
SGVDX	0.66	0.72	0.34		0.69	0.66	0.77	SGVDX
RGVEX	0.55	0.98	0.23	0.69		0.82	0.93	RGVEX
DPIGX	0.86	0.86	0.68	0.66	0.82		0.76	DPIGX
WMBDX	0.59	0.93	0.2	0.77	0.93	0.76		WMBDX
	SIGVX	USGFX	RYHJX	SGVDX	RGVEX	DPIGX	WMBDX

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
SIGVX	0.07	0.01	(0.39)	1.06	0.00	(0.14)	0.10	(0.10)	0.51
USGFX	0.13	(0.01)	(0.30)	(0.14)	0.15	(0.15)	0.25	(0.25)	0.66
RYHJX	0.40	0.07	0.02	(0.37)	0.30	(0.46)	1.00	(0.60)	2.03
SGVDX	0.14	(0.01)	(0.26)	(0.09)	0.16	(0.17)	0.20	(0.30)	0.71
RGVEX	0.13	(0.01)	(0.32)	(0.15)	0.16	(0.15)	0.25	(0.25)	0.66
DPIGX	0.07	0.00	(0.40)	(0.12)	0.00	(0.13)	0.11	(0.10)	0.52
WMBDX	0.16	(0.01)	(0.20)	(0.08)	0.20	(0.20)	0.25	(0.38)	1.01

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