Horizon Defined Correlations

Mutual Funds . USA . 
Fund . Horizon Defined Risk
HADRX Fund  USD 86.06  0.09  0.10%   
The current 90-days correlation between Horizon Defined Risk and Deutsche Enhanced Modity is 0.13 (i.e., Average diversification). The correlation of Horizon Defined 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 Defined Correlation With Market

Almost no diversification

The correlation between Horizon Defined Risk and DJI is 0.94 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Horizon Defined Risk and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Horizon Defined 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 real.

Moving together with Horizon Mutual Fund

  0.97ARANX Horizon Active RiskPairCorr
  0.97ARAAX Horizon Active RiskPairCorr
  0.93AAANX Horizon Active AssetPairCorr
  0.95HNDDX Horizon Active DividendPairCorr
  1.0HNDRX Horizon Defined RiskPairCorr
  0.97ACRIX Horizon Active RiskPairCorr
  0.88USRAX Horizon Defensive EquityPairCorr
  0.94USRTX Horizon Defensive EquityPairCorr
  0.95HADUX Horizon Active DividendPairCorr
  0.93HASAX Horizon Active AssetPairCorr
  0.93HASIX Horizon Active AssetPairCorr
  0.87HSMBX Hartford Small CapPairCorr
  0.87HSMNX Horizon Defensive SmmdPairCorr
  0.76HTFNX Horizon FundsPairCorr
  0.75HTFAX Horizon FundsPairCorr
  0.75AIHAX Horizon Active IncomePairCorr
  0.76AIMNX Horizon Active IncomePairCorr
  0.75AIRIX Horizon Active IncomePairCorr
  0.91HESAX Horizon Esg DefensivePairCorr
  0.84HESGX Horizon Esg DefensivePairCorr
  0.97JHQCX Jpmorgan Hedged EquityPairCorr
  0.97JHEQX Jpmorgan Hedged EquityPairCorr
  0.97JHQAX Jpmorgan Hedged EquityPairCorr
  0.98GTENX Gateway Fund ClassPairCorr
  0.98GTECX Gateway Fund ClassPairCorr
  0.98GTEYX Gateway Fund ClassPairCorr
  0.98GATEX Gateway Fund ClassPairCorr
  0.97JHDCX Jpmorgan Hedged EquityPairCorr
  0.97JHDRX Jpmorgan Hedged EquityPairCorr
  0.97JHDAX Jpmorgan Hedged EquityPairCorr
  0.98VTSAX Vanguard Total StockPairCorr
  0.98VFIAX Vanguard 500 IndexPairCorr
  0.98VTSMX Vanguard Total StockPairCorr
  0.98VSTSX Vanguard Total StockPairCorr
  0.98VSMPX Vanguard Total StockPairCorr
  0.98VITSX Vanguard Total StockPairCorr
  0.85VTIAX Vanguard Total InterPairCorr
  0.98VFINX Vanguard 500 IndexPairCorr
  0.98VFFSX Vanguard 500 IndexPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Horizon Mutual Fund performing well and Horizon Defined 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 Defined'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
ESMAX  0.77  0.04  0.04  0.10  0.91 
(0.80)
 1.49 
(1.76)
 4.57 
OBMCX  1.08  0.21  0.16  0.25  1.03 
(1.20)
 2.99 
(1.97)
 7.88 
DISSX  0.84  0.08  0.09  0.12  0.76 
(1.04)
 2.56 
(1.79)
 5.01 
EAALX  0.82  0.12  0.11  0.30  0.60 
(1.04)
 1.38 
(1.22)
 17.20 
CWVGX  0.68  0.09  0.09  0.19  0.63 
(0.72)
 1.38 
(1.34)
 7.95 
CWVIX  0.67  0.09  0.08  0.18  0.65 
(0.71)
 1.38 
(1.37)
 7.55 
DHMIX  0.91  0.24  0.24  0.32  0.57 
(1.13)
 2.17 
(1.47)
 8.10 
POVSX  0.68  0.13  0.14  0.23  0.59 
(0.78)
 1.47 
(1.13)
 3.27 
COVAX  1.03  0.32  0.35  0.35  0.41 
(1.38)
 2.36 
(1.52)
 14.55 
SKIRX  0.84  0.09  0.03  0.46  1.31 
(0.89)
 1.58 
(1.48)
 7.53 

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