Horizon Active Correlations

HNDDX Fund

USD 74.11 0.03 0.04%

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

Good diversification

The correlation between Horizon Active Dividend and DJI is -0.06 (i.e., Good 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

0.8	ARANX	Horizon Active Risk	Pair Corr
0.8	ARAAX	Horizon Active Risk	Pair Corr
0.82	AAANX	Horizon Active Asset	Pair Corr
0.96	HNDRX	Horizon Defined Risk	Pair Corr
0.8	ACRIX	Horizon Active Risk	Pair Corr
0.94	USRAX	Horizon Defensive Equity	Pair Corr
0.98	USRTX	Horizon Defensive Equity	Pair Corr
0.96	HADRX	Horizon Defined Risk	Pair Corr
1.0	HADUX	Horizon Active Dividend	Pair Corr
0.89	HASAX	Horizon Active Asset	Pair Corr
0.82	HASIX	Horizon Active Asset	Pair Corr
0.86	HSMNX	Horizon Defensive Smmd	Pair Corr
0.97	HESAX	Horizon Esg Defensive	Pair Corr
0.97	HESGX	Horizon Esg Defensive	Pair Corr
0.91	JEPAX	Jpmorgan Research Equity	Pair Corr
0.91	JEPCX	Jpmorgan Research Equity	Pair Corr
0.91	JEPIX	Jpmorgan Equity Premium	Pair Corr
0.99	GSPKX	Goldman Sachs Equity	Pair Corr
0.95	GVIRX	Goldman Sachs Equity	Pair Corr
0.99	GSPAX	Goldman Sachs Equity	Pair Corr
0.99	GSPQX	Goldman Sachs Equity	Pair Corr
0.95	GSFPX	Goldman Sachs Equity	Pair Corr
0.95	GIDWX	Goldman Sachs Equity	Pair Corr
0.63	BMCIX	Blackrock High Equity	Pair Corr
0.94	VTSAX	Vanguard Total Stock	Pair Corr
0.99	VFIAX	Vanguard 500 Index	Pair Corr
0.94	VTSMX	Vanguard Total Stock	Pair Corr
0.94	VSMPX	Vanguard Total Stock	Pair Corr
0.94	VSTSX	Vanguard Total Stock	Pair Corr
0.98	VITSX	Vanguard Total Stock	Pair Corr
0.99	VFINX	Vanguard 500 Index	Pair Corr
0.95	VFFSX	Vanguard 500 Index	Pair Corr

Moving against Horizon Mutual Fund

0.59	AIRIX	Horizon Active Income	Pair Corr
0.53	AIHAX	Horizon Active Income	Pair Corr
0.53	AIMNX	Horizon Active Income	Pair Corr

Related Correlations Analysis

	ICAXX	FISAX	LCCXX	MXDQX	BIGLX
ICAXX		0.0	0.0	0.0	0.0	ICAXX
FISAX	0.0		0.0	0.31	0.34	FISAX
LCCXX	0.0	0.0		0.0	0.0	LCCXX
MXDQX	0.0	0.31	0.0		0.99	MXDQX
BIGLX	0.0	0.34	0.0	0.99		BIGLX
	ICAXX	FISAX	LCCXX	MXDQX	BIGLX

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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

BIGLX	+ 0.99	MXDQX
BIGLX	+ 0.34	FISAX
MXDQX	+ 0.31	FISAX
FISAX	+ 0.0	ICAXX
LCCXX	+ 0.0	ICAXX
MXDQX	+ 0.0	ICAXX

High negative correlations

BIGLX	- 0.0	LCCXX
MXDQX	- 0.0	LCCXX
LCCXX	- 0.0	FISAX
BIGLX	- 0.0	ICAXX
MXDQX	- 0.0	ICAXX
LCCXX	- 0.0	ICAXX

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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ICAXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FISAX	0.08	0.00	(0.51)	0.09	(0.18)	0.13	(0.13)	0.80
LCCXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MXDQX	0.25	(0.04)	0.00	(0.61)	0.00	0.47	(0.48)	1.43
BIGLX	0.23	(0.04)	0.00	(0.59)	0.00	0.33	(0.55)	1.44

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