Horizon Active Correlations

HASAX Fund

USD 15.46 0.16 1.05%

The current 90-days correlation between Horizon Active Asset and Tax Managed Mid Small is 0.64 (i.e., Poor 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 Asset and DJI is 0.92 (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 Asset 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 Asset. 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

0.97	ARANX	Horizon Active Risk	Pair Corr
0.96	ARAAX	Horizon Active Risk	Pair Corr
1.0	AAANX	Horizon Active Asset	Pair Corr
0.92	HNDDX	Horizon Active Dividend	Pair Corr
0.94	HNDRX	Horizon Defined Risk	Pair Corr
0.97	ACRIX	Horizon Active Risk	Pair Corr
0.99	USRAX	Horizon Defensive Equity	Pair Corr
0.92	USRTX	Horizon Defensive Equity	Pair Corr
0.94	HADRX	Horizon Defined Risk	Pair Corr
0.92	HADUX	Horizon Active Dividend	Pair Corr
1.0	HASIX	Horizon Active Asset	Pair Corr
0.91	HSMBX	Hartford Small Cap	Pair Corr
0.92	HSMNX	Horizon Defensive Smmd	Pair Corr
0.62	HTFNX	Horizon Funds	Pair Corr
0.85	AIHAX	Horizon Active Income	Pair Corr
0.85	AIMNX	Horizon Active Income	Pair Corr
0.84	AIRIX	Horizon Active Income	Pair Corr
0.74	HESAX	Horizon Esg Defensive	Pair Corr
0.96	HESGX	Horizon Esg Defensive	Pair Corr
0.92	PAALX	All Asset Fund	Pair Corr
0.92	PATRX	Pimco All Asset	Pair Corr
0.92	PAAIX	All Asset Fund	Pair Corr
0.92	PALPX	Pimco All Asset	Pair Corr
0.91	PASAX	All Asset Fund	Pair Corr
0.92	PASCX	All Asset Fund	Pair Corr
0.93	PAANX	Pimco All Asset	Pair Corr
0.92	PAUPX	Pimco All Asset	Pair Corr
0.92	PAUIX	Pimco All Asset	Pair Corr
0.87	WARRX	Wells Fargo Advantage	Pair Corr
0.71	RYMEX	Commodities Strategy	Pair Corr
0.74	RYMJX	Commodities Strategy	Pair Corr
0.75	RYMBX	Commodities Strategy	Pair Corr
0.94	BRUFX	Bruce Fund Bruce	Pair Corr
0.89	SPGSX	State Street Premier	Pair Corr
0.9	KF	Korea Closed	Pair Corr
0.95	PFNUX	Pimco Dynamic Bond	Pair Corr
0.81	UBPSX	Ultralatin America	Pair Corr
0.96	RBHHX	American Funds 2045	Pair Corr

Related Correlations Analysis

	JDVCX	DSCPX	GABSX	SIGWX	JDJRX	USCAX	MDBLX	RTOUX
JDVCX		0.65	0.83	0.88	0.25	0.92	0.74	0.8	JDVCX
DSCPX	0.65		0.74	0.85	-0.1	0.81	0.63	0.8	DSCPX
GABSX	0.83	0.74		0.9	0.36	0.94	0.86	0.96	GABSX
SIGWX	0.88	0.85	0.9		0.1	0.98	0.78	0.91	SIGWX
JDJRX	0.25	-0.1	0.36	0.1		0.18	0.49	0.31	JDJRX
USCAX	0.92	0.81	0.94	0.98	0.18		0.8	0.93	USCAX
MDBLX	0.74	0.63	0.86	0.78	0.49	0.8		0.88	MDBLX
RTOUX	0.8	0.8	0.96	0.91	0.31	0.93	0.88		RTOUX
	JDVCX	DSCPX	GABSX	SIGWX	JDJRX	USCAX	MDBLX	RTOUX

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

USCAX	+ 0.98	SIGWX
RTOUX	+ 0.96	GABSX
USCAX	+ 0.94	GABSX
RTOUX	+ 0.93	USCAX
USCAX	+ 0.92	JDVCX
RTOUX	+ 0.91	SIGWX

High negative correlations

JDJRX

- 0.1

DSCPX

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
JDVCX	0.61	0.24	0.23	(1.06)	0.00	(0.76)	0.77	(0.77)	14.53
DSCPX	0.81	(0.03)	(0.04)	0.06	0.78	(0.98)	2.43	(1.16)	4.68
GABSX	0.76	0.18	0.12	2.07	0.57	(0.86)	2.33	(1.28)	4.50
SIGWX	0.76	0.11	0.15	0.19	0.46	(0.94)	1.91	(1.31)	6.84
JDJRX	0.39	0.02	(0.14)	(0.45)	0.41	(0.50)	0.94	(0.81)	2.24
USCAX	0.89	0.20	0.19	0.29	0.63	(1.09)	2.13	(1.87)	7.96
MDBLX	0.12	0.00	(0.40)	0.11	0.07	(0.16)	0.24	(0.24)	0.59
RTOUX	0.77	0.08	0.09	0.17	0.67	(0.82)	2.08	(1.43)	4.39

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