Horizon Core Correlations

STOX Etf

28.95 0.13 0.45%

The current 90-days correlation between Horizon Core Equity and Harbor ETF Trust is 0.56 (i.e., Very weak diversification). The correlation of Horizon Core 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 Core Correlation With Market

Almost no diversification

The correlation between Horizon Core Equity and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Horizon Core Equity and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Horizon Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Horizon Core Equity. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with Horizon Etf

0.99	VTI	Vanguard Total Stock	Pair Corr
0.99	SPY	SPDR SP 500	Pair Corr
0.99	IVV	iShares Core SP	Pair Corr
0.68	BND	Vanguard Total Bond	Pair Corr
0.83	VTV	Vanguard Value Index Sell-off Trend	Pair Corr
0.93	VO	Vanguard Mid Cap	Pair Corr
0.85	VEA	Vanguard FTSE Developed	Pair Corr
0.89	VB	Vanguard Small Cap	Pair Corr
0.76	VWO	Vanguard FTSE Emerging	Pair Corr
0.92	CPST	Calamos ETF Trust	Pair Corr
0.93	ITDD	iShares Trust	Pair Corr
0.83	AA	Alcoa Corp	Pair Corr
0.63	JNJ	Johnson Johnson	Pair Corr
0.8	DD	Dupont De Nemours	Pair Corr
0.78	BA	Boeing	Pair Corr
0.75	CAT	Caterpillar	Pair Corr
0.72	WMT	Walmart Common Stock Aggressive Push	Pair Corr

Moving against Horizon Etf

0.59	MPAY	Exchange Traded Concepts	Pair Corr
0.58	HPQ	HP Inc	Pair Corr
0.46	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	QHDG	ASCE	CEW	EQRR	JHID	INDE	GENM	EBIT
QHDG		0.74	0.55	0.68	0.55	-0.42	0.42	0.61	QHDG
ASCE	0.74		0.88	0.9	0.88	-0.73	0.77	0.91	ASCE
CEW	0.55	0.88		0.91	0.98	-0.84	0.9	0.89	CEW
EQRR	0.68	0.9	0.91		0.94	-0.69	0.85	0.95	EQRR
JHID	0.55	0.88	0.98	0.94		-0.78	0.92	0.92	JHID
INDE	-0.42	-0.73	-0.84	-0.69	-0.78		-0.73	-0.74	INDE
GENM	0.42	0.77	0.9	0.85	0.92	-0.73		0.87	GENM
EBIT	0.61	0.91	0.89	0.95	0.92	-0.74	0.87		EBIT
	QHDG	ASCE	CEW	EQRR	JHID	INDE	GENM	EBIT

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

JHID	+ 0.98	CEW
EBIT	+ 0.95	EQRR
JHID	+ 0.94	EQRR
GENM	+ 0.92	JHID
EBIT	+ 0.92	JHID
EBIT	+ 0.91	ASCE

High negative correlations

INDE	- 0.84	CEW
INDE	- 0.78	JHID
EBIT	- 0.74	INDE
GENM	- 0.73	INDE
INDE	- 0.73	ASCE
INDE	- 0.69	EQRR

Horizon Core Constituents Risk-Adjusted Indicators

There is a big difference between Horizon Etf performing well and Horizon Core ETF 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 Core'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
QHDG	0.55	(0.04)	(0.11)	0.01	0.74	(0.55)	1.30	(1.30)	3.55
ASCE	0.96	0.15	0.06	2.32	0.97	(1.04)	2.14	(1.88)	4.59
CEW	0.24	0.06	(0.06)	0.59	0.00	(0.29)	0.57	(0.32)	1.75
EQRR	0.68	0.08	0.07	0.18	0.87	(0.71)	1.54	(1.80)	4.11
JHID	0.54	0.20	0.25	0.42	0.18	(0.65)	1.21	(0.79)	3.46
INDE	0.68	(0.08)	0.00	(0.13)	0.00	0.00	1.20	(1.44)	4.78
GENM	0.10	0.01	(0.52)	0.54	0.00	(0.15)	0.20	(0.19)	0.58
EBIT	0.83	0.09	0.12	0.18	0.64	(1.11)	2.39	(1.60)	4.82

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