Horizon Active Correlations

HNDDX Fund

USD 72.82 0.21 0.29%

The current 90-days correlation between Horizon Active Dividend and Jpmorgan Research Equity is 0.83 (i.e., Very 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

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 unemployment.

Moving together with Horizon Mutual Fund

0.76	HNDRX	Horizon Defined Risk	Pair Corr
0.76	HADRX	Horizon Defined Risk	Pair Corr
1.0	HADUX	Horizon Active Dividend	Pair Corr
0.78	HSMNX	Horizon Defensive Smmd	Pair Corr
0.9	HTFNX	Horizon Funds	Pair Corr
0.9	HTFAX	Horizon Funds	Pair Corr
0.71	AIHAX	Horizon Active Income	Pair Corr
0.73	AIMNX	Horizon Active Income	Pair Corr
0.72	AIRIX	Horizon Active Income	Pair Corr
0.96	HESAX	Horizon Esg Defensive	Pair Corr
0.95	HESGX	Horizon Esg Defensive	Pair Corr
0.89	JEPAX	Jpmorgan Research Equity	Pair Corr
0.88	JEPCX	Jpmorgan Research Equity	Pair Corr
0.9	JEPIX	Jpmorgan Equity Premium	Pair Corr
0.61	GSPKX	Goldman Sachs Equity	Pair Corr
0.61	GSFPX	Goldman Sachs Equity	Pair Corr
0.61	GIDWX	Goldman Sachs Equity	Pair Corr
0.64	BMCIX	Blackrock High Equity	Pair Corr
0.66	PCF	Putnam High Income	Pair Corr
0.91	ABWAX	Ab All Market	Pair Corr

Related Correlations Analysis

	JEPAX	JEPCX	JEPIX	GSPKX	GVIRX	GSPAX	GSPQX	GSFPX	GIDWX	BMCIX
JEPAX		1.0	1.0	0.83	0.83	0.83	0.82	0.83	0.83	0.88	JEPAX
JEPCX	1.0		1.0	0.84	0.84	0.84	0.83	0.84	0.84	0.89	JEPCX
JEPIX	1.0	1.0		0.82	0.82	0.82	0.81	0.82	0.82	0.87	JEPIX
GSPKX	0.83	0.84	0.82		1.0	1.0	1.0	1.0	1.0	0.89	GSPKX
GVIRX	0.83	0.84	0.82	1.0		1.0	1.0	1.0	1.0	0.89	GVIRX
GSPAX	0.83	0.84	0.82	1.0	1.0		1.0	1.0	1.0	0.89	GSPAX
GSPQX	0.82	0.83	0.81	1.0	1.0	1.0		1.0	1.0	0.89	GSPQX
GSFPX	0.83	0.84	0.82	1.0	1.0	1.0	1.0		1.0	0.89	GSFPX
GIDWX	0.83	0.84	0.82	1.0	1.0	1.0	1.0	1.0		0.89	GIDWX
BMCIX	0.88	0.89	0.87	0.89	0.89	0.89	0.89	0.89	0.89		BMCIX
	JEPAX	JEPCX	JEPIX	GSPKX	GVIRX	GSPAX	GSPQX	GSFPX	GIDWX	BMCIX

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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
JEPAX	0.40	(0.02)	(0.13)	0.04	0.57	(0.45)	0.83	(0.82)	3.43
JEPCX	0.40	(0.02)	(0.13)	0.03	0.58	(0.45)	0.83	(0.88)	3.50
JEPIX	0.42	(0.01)	(0.12)	0.04	0.57	(0.48)	0.84	(0.89)	3.50
GSPKX	0.54	(0.05)	0.00	(0.07)	0.00	0.00	0.87	(1.08)	7.63
GVIRX	0.54	(0.05)	0.00	(0.07)	0.00	0.00	0.92	(1.19)	7.67
GSPAX	0.54	(0.05)	0.00	(0.07)	0.00	0.00	0.91	(1.13)	7.65
GSPQX	0.54	(0.05)	0.00	(0.08)	0.00	0.00	0.92	(1.13)	7.73
GSFPX	0.54	(0.05)	0.00	(0.07)	0.00	0.00	0.92	(1.13)	7.74
GIDWX	0.55	(0.05)	0.00	(0.07)	0.00	0.00	0.92	(1.14)	7.68
BMCIX	0.48	(0.02)	(0.15)	0.00	0.56	(0.56)	0.97	(0.79)	3.98

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Horizon Active Correlations

Horizon Active Correlation With Market

Weak diversification

Moving together with Horizon Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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