Horizon Active Correlations

HASAX Fund

USD 16.07 0.06 0.37%

The current 90-days correlation between Horizon Active Asset and Horizon Active Risk 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

Very poor diversification

The correlation between Horizon Active Asset and DJI is 0.8 (i.e., Very poor 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

0.98	ARANX	Horizon Active Risk	Pair Corr
0.98	ARAAX	Horizon Active Risk	Pair Corr
1.0	AAANX	Horizon Active Asset	Pair Corr
0.9	HNDDX	Horizon Active Dividend	Pair Corr
0.88	HNDRX	Horizon Defined Risk	Pair Corr
0.98	ACRIX	Horizon Active Risk	Pair Corr
0.93	USRAX	Horizon Defensive Equity	Pair Corr
0.93	USRTX	Horizon Defensive Equity	Pair Corr
0.88	HADRX	Horizon Defined Risk	Pair Corr
0.9	HADUX	Horizon Active Dividend	Pair Corr
1.0	HASIX	Horizon Active Asset	Pair Corr
0.82	HSMNX	Horizon Defensive Smmd	Pair Corr
0.91	HESAX	Horizon Esg Defensive	Pair Corr
0.91	HESGX	Horizon Esg Defensive	Pair Corr
0.69	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.69	LSHEX	Kinetics Spin Off Steady Growth	Pair Corr
0.67	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.67	KNPCX	Kinetics Paradigm Steady Growth	Pair Corr
0.62	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.62	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.62	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.62	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.62	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr
0.7	KSCOX	Kinetics Small Cap Steady Growth	Pair Corr

Moving against Horizon Mutual Fund

0.4	AIHAX	Horizon Active Income	Pair Corr
0.4	AIRIX	Horizon Active Income	Pair Corr
0.39	AIMNX	Horizon Active Income	Pair Corr

Related Correlations Analysis

	ARANX	ARAAX	AAANX	HNDDX	ACRIX	HADRX	HADUX	HTFNX
ARANX		1.0	0.98	0.87	1.0	0.83	0.87	0.2	ARANX
ARAAX	1.0		0.98	0.87	1.0	0.83	0.87	0.2	ARAAX
AAANX	0.98	0.98		0.9	0.98	0.88	0.9	0.13	AAANX
HNDDX	0.87	0.87	0.9		0.87	0.99	1.0	0.05	HNDDX
ACRIX	1.0	1.0	0.98	0.87		0.84	0.87	0.2	ACRIX
HADRX	0.83	0.83	0.88	0.99	0.84		0.99	0.03	HADRX
HADUX	0.87	0.87	0.9	1.0	0.87	0.99		0.05	HADUX
HTFNX	0.2	0.2	0.13	0.05	0.2	0.03	0.05		HTFNX
	ARANX	ARAAX	AAANX	HNDDX	ACRIX	HADRX	HADUX	HTFNX

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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
ARANX	0.54	(0.05)	(0.11)	0.05	0.67	(0.57)	1.17	(1.17)	3.23
ARAAX	0.54	(0.05)	(0.11)	0.05	0.68	(0.57)	1.17	(1.17)	3.24
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
ACRIX	0.54	(0.05)	(0.11)	0.05	0.68	(0.55)	1.16	(1.13)	3.22
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
HTFNX	0.19	0.00	(0.45)	0.10	0.17	(0.20)	0.41	(0.35)	1.20

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