Horizon Active Correlations

Mutual Funds . USA . 
Fund . Horizon Active Dividend
HADUX Fund  USD 72.86  0.21  0.29%   
The current 90-days correlation between Horizon Active Dividend and Horizon Defined Risk is 0.96 (i.e., Almost no 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

Weak diversification

The correlation between Horizon Active Dividend and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Horizon Active Dividend 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 Active Dividend. 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

  1.0HNDDX Horizon Active DividendPairCorr
  0.75HNDRX Horizon Defined RiskPairCorr
  0.76HADRX Horizon Defined RiskPairCorr
  0.79HSMNX Horizon Defensive SmmdPairCorr
  0.9HTFNX Horizon FundsPairCorr
  0.9HTFAX Horizon FundsPairCorr
  0.71AIHAX Horizon Active IncomePairCorr
  0.73AIMNX Horizon Active IncomePairCorr
  0.72AIRIX Horizon Active IncomePairCorr
  0.95HESAX Horizon Esg DefensivePairCorr
  0.95HESGX Horizon Esg DefensivePairCorr
  0.89JEPAX Jpmorgan Research EquityPairCorr
  0.89JEPCX Jpmorgan Research EquityPairCorr
  0.9JEPIX Jpmorgan Equity PremiumPairCorr
  0.61GSPKX Goldman Sachs EquityPairCorr
  0.61GVIRX Goldman Sachs EquityPairCorr
  0.61GSPAX Goldman Sachs EquityPairCorr
  0.61GSFPX Goldman Sachs EquityPairCorr
  0.61GIDWX Goldman Sachs EquityPairCorr
  0.64BMCIX Blackrock High EquityPairCorr
  0.66PCF Putnam High IncomePairCorr
  0.91ABWAX Ab All MarketPairCorr

Related Correlations Analysis

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