Horizon Active Correlations

ARANX Fund

USD 27.27 0.09 0.33%

The current 90-days correlation between Horizon Active Risk and Horizon Active Asset is 0.99 (i.e., No risk reduction). 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 0.78 (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 board of governors.

Moving together with Horizon Mutual Fund

1.0	ARAAX	Horizon Active Risk	Pair Corr
0.98	AAANX	Horizon Active Asset	Pair Corr
0.87	HNDDX	Horizon Active Dividend	Pair Corr
0.83	HNDRX	Horizon Defined Risk	Pair Corr
1.0	ACRIX	Horizon Active Risk	Pair Corr
0.89	USRAX	Horizon Defensive Equity	Pair Corr
0.89	USRTX	Horizon Defensive Equity	Pair Corr
0.83	HADRX	Horizon Defined Risk	Pair Corr
0.87	HADUX	Horizon Active Dividend	Pair Corr
0.98	HASAX	Horizon Active Asset	Pair Corr
0.98	HASIX	Horizon Active Asset	Pair Corr
0.72	HSMNX	Horizon Defensive Smmd	Pair Corr
0.86	HESAX	Horizon Esg Defensive	Pair Corr
0.86	HESGX	Horizon Esg Defensive	Pair Corr
0.7	WRHIX	Ivy High Income	Pair Corr
0.68	WHIAX	Ivy High Income	Pair Corr
0.69	IHIFX	Ivy High Income	Pair Corr
0.73	IVHIX	Ivy High Income	Pair Corr
0.9	FCNTX	Fidelity Contrafund	Pair Corr
0.7	AVEMX	Ave Maria Value Steady Growth	Pair Corr

Moving against Horizon Mutual Fund

0.52

CIOCX

Columbia Porate Income

Pair Corr

Related Correlations Analysis

	AAANX	HNDDX	HNDRX	USRAX	USRTX	HADRX	HADUX
AAANX		0.9	0.88	0.93	0.93	0.88	0.9	AAANX
HNDDX	0.9		0.99	0.98	0.97	0.99	1.0	HNDDX
HNDRX	0.88	0.99		0.96	0.96	1.0	0.99	HNDRX
USRAX	0.93	0.98	0.96		1.0	0.96	0.98	USRAX
USRTX	0.93	0.97	0.96	1.0		0.96	0.97	USRTX
HADRX	0.88	0.99	1.0	0.96	0.96		0.99	HADRX
HADUX	0.9	1.0	0.99	0.98	0.97	0.99		HADUX
	AAANX	HNDDX	HNDRX	USRAX	USRTX	HADRX	HADUX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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
AAANX	0.59	(0.06)	(0.09)	0.05	0.79	(0.61)	1.34	(1.30)	3.76
HNDDX	0.46	0.01	(0.03)	0.13	0.47	(0.48)	0.97	(1.07)	3.19
HNDRX	0.29	0.01	(0.12)	0.15	0.25	(0.31)	0.69	(0.86)	2.09
USRAX	0.47	(0.01)	(0.07)	0.11	0.48	(0.54)	0.98	(0.98)	2.71
USRTX	0.47	(0.01)	(0.07)	0.11	0.49	(0.54)	0.98	(0.98)	2.71
HADRX	0.29	0.01	(0.12)	0.15	0.25	(0.31)	0.68	(0.86)	2.09
HADUX	0.46	0.01	(0.03)	0.13	0.47	(0.48)	0.97	(1.07)	3.20

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC