Horizon Funds Correlations

HTFAX Fund

USD 47.65 0.09 0.19%

The current 90-days correlation between Horizon Funds and Rbc Global Equity is 0.23 (i.e., Modest diversification). The correlation of Horizon Funds 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 Funds Correlation With Market

Weak diversification

The correlation between Horizon Funds and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Horizon Funds 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 Funds . 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.

For more information on how to buy Horizon Mutual Fund please use our How to Invest in Horizon Funds guide.

Moving together with Horizon Mutual Fund

0.9	HNDDX	Horizon Active Dividend	Pair Corr
0.61	ACRIX	Horizon Active Risk	Pair Corr
0.67	USRAX	Horizon Defensive Equity	Pair Corr
0.67	USRTX	Horizon Defensive Equity	Pair Corr
0.9	HADUX	Horizon Active Dividend	Pair Corr
0.87	HSMNX	Horizon Defensive Smmd	Pair Corr
1.0	HTFNX	Horizon Funds	Pair Corr
0.86	AIHAX	Horizon Active Income	Pair Corr
0.87	AIMNX	Horizon Active Income	Pair Corr
0.87	AIRIX	Horizon Active Income	Pair Corr
0.83	HESAX	Horizon Esg Defensive	Pair Corr
0.83	HESGX	Horizon Esg Defensive	Pair Corr
0.83	PONAX	Pimco Income	Pair Corr
0.84	PONCX	Pimco Income	Pair Corr
0.8	PIPNX	Pimco Income	Pair Corr
0.83	PONRX	Pimco Income	Pair Corr
0.8	PONPX	Pimco Incme Fund	Pair Corr
0.8	PIINX	Pimco Income	Pair Corr
0.79	PIMIX	Pimco Income	Pair Corr
0.72	LBNDX	Lord Abbett Bond	Pair Corr
0.95	FSTAX	Fidelity Advisor Str	Pair Corr
0.94	FSRIX	Fidelity Advisor Str	Pair Corr
0.61	FSMMX	Fs Multi Strategy	Pair Corr

Moving against Horizon Mutual Fund

0.44

FMFFX

Fs Managed Futures

Pair Corr

Related Correlations Analysis

	RGELX	LMUSX	IAFLX	TACLX	BPGSX	SMYIX	MSEQX	PBLIX
RGELX		0.81	0.62	0.61	0.77	0.81	0.46	0.75	RGELX
LMUSX	0.81		0.47	0.74	0.7	0.98	0.42	0.85	LMUSX
IAFLX	0.62	0.47		0.16	0.12	0.37	0.45	0.26	IAFLX
TACLX	0.61	0.74	0.16		0.76	0.77	-0.11	0.84	TACLX
BPGSX	0.77	0.7	0.12	0.76		0.8	0.02	0.89	BPGSX
SMYIX	0.81	0.98	0.37	0.77	0.8		0.33	0.91	SMYIX
MSEQX	0.46	0.42	0.45	-0.11	0.02	0.33		0.09	MSEQX
PBLIX	0.75	0.85	0.26	0.84	0.89	0.91	0.09		PBLIX
	RGELX	LMUSX	IAFLX	TACLX	BPGSX	SMYIX	MSEQX	PBLIX

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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

SMYIX	+ 0.98	LMUSX
PBLIX	+ 0.91	SMYIX
PBLIX	+ 0.89	BPGSX
PBLIX	+ 0.85	LMUSX
PBLIX	+ 0.84	TACLX
LMUSX	+ 0.81	RGELX

High negative correlations

MSEQX

- 0.11

TACLX

Risk-Adjusted Indicators

There is a big difference between Horizon Mutual Fund performing well and Horizon Funds 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 Funds' 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
RGELX	0.58	0.03	(0.06)	(1.11)	0.93	(0.55)	1.33	(1.69)	4.33
LMUSX	0.74	0.00	(0.03)	0.09	1.19	(0.70)	1.27	(1.59)	6.30
IAFLX	1.08	0.01	(0.03)	0.86	2.01	(1.02)	2.13	(2.29)	10.11
TACLX	0.56	(0.01)	(0.10)	0.04	0.74	(0.62)	1.03	(0.97)	5.47
BPGSX	0.52	0.02	(0.08)	0.33	0.67	(0.54)	1.03	(0.95)	3.31
SMYIX	0.65	(0.01)	(0.04)	0.08	1.06	(0.61)	1.48	(1.35)	4.86
MSEQX	1.43	0.50	0.24	(4.94)	1.27	(1.72)	3.23	(1.96)	12.69
PBLIX	0.51	(0.02)	(0.09)	0.04	0.75	(0.50)	1.06	(1.24)	3.61

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