Horizon Core Correlations

STOX Etf

28.65 0.04 0.14%

The current 90-days correlation between Horizon Core Equity and FT Vest Equity is 0.93 (i.e., Almost no 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

Poor diversification

The correlation between Horizon Core Equity and DJI is 0.78 (i.e., Poor 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 metropolitan statistical area.

Moving together with Horizon Etf

0.98	VTI	Vanguard Total Stock	Pair Corr
0.99	SPY	SPDR SP 500	Pair Corr
0.99	IVV	iShares Core SP	Pair Corr
0.76	VTV	Vanguard Value Index	Pair Corr
0.88	VUG	Vanguard Growth Index	Pair Corr
0.85	VEA	Vanguard FTSE Developed	Pair Corr
0.74	VB	Vanguard Small Cap	Pair Corr
0.77	FB	ProShares Trust ProShares	Pair Corr
0.98	TOT	Advisor Managed Port	Pair Corr
0.76	DUKH	Ocean Park High	Pair Corr
0.63	SLX	VanEck Steel ETF	Pair Corr
0.81	ZJAN	Innovator Equity Defined	Pair Corr
0.85	JADE	JP Morgan Exchange	Pair Corr
0.92	QQQM	Invesco NASDAQ 100	Pair Corr
0.64	ZSB	USCF Sustainable Battery	Pair Corr
0.69	SCZ	iShares MSCI EAFE	Pair Corr
0.89	QULL	ETRACS 2x Leveraged	Pair Corr
0.94	QLC	FlexShares Quality Large	Pair Corr
0.84	QQH	HCM Defender 100	Pair Corr
0.88	FFLG	Fidelity Covington Trust Low Volatility	Pair Corr
0.99	VOO	Vanguard SP 500	Pair Corr
0.87	AGEM	abrdn Emerging Markets	Pair Corr
0.61	CLOX	Series Portfolios Trust	Pair Corr
0.88	CSD	Invesco SP Spin	Pair Corr

Moving against Horizon Etf

0.75	VXX	iPath Series B Sell-off Trend	Pair Corr
0.64	NFLX	Netflix	Pair Corr
0.38	GBTC	Grayscale Bitcoin Trust	Pair Corr

Related Correlations Analysis

	DHDG	MBCC	DHLX	DIHP	DIVE	DIVN	DJAN	FB	MDLV
DHDG		0.17	0.06	0.86	0.4	0.65	0.95	0.89	0.69	DHDG
MBCC	0.17		0.47	0.36	0.52	0.2	0.21	0.04	0.11	MBCC
DHLX	0.06	0.47		0.28	0.79	0.52	0.27	0.2	0.43	DHLX
DIHP	0.86	0.36	0.28		0.64	0.83	0.9	0.79	0.83	DIHP
DIVE	0.4	0.52	0.79	0.64		0.82	0.58	0.42	0.72	DIVE
DIVN	0.65	0.2	0.52	0.83	0.82		0.81	0.71	0.95	DIVN
DJAN	0.95	0.21	0.27	0.9	0.58	0.81		0.93	0.81	DJAN
FB	0.89	0.04	0.2	0.79	0.42	0.71	0.93		0.75	FB
MDLV	0.69	0.11	0.43	0.83	0.72	0.95	0.81	0.75		MDLV
	DHDG	MBCC	DHLX	DIHP	DIVE	DIVN	DJAN	FB	MDLV

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
DHDG	0.26	0.02	(0.05)	0.13	0.22	(0.30)	0.73	(0.75)	1.70
MBCC	0.52	(0.05)	(0.08)	0.01	0.78	(0.48)	1.01	(1.25)	2.69
DHLX	0.58	0.01	(0.07)	0.13	0.63	(0.71)	1.03	(1.33)	2.46
DIHP	0.57	0.02	0.00	0.09	0.63	(0.58)	1.01	(1.06)	2.56
DIVE	0.59	(0.02)	(0.03)	0.05	0.83	(0.59)	1.33	(1.11)	4.47
DIVN	0.54	(0.01)	(0.05)	0.06	0.57	(0.63)	1.28	(0.96)	2.73
DJAN	0.23	0.02	(0.08)	0.11	0.21	(0.23)	0.57	(0.51)	1.44
FB	0.23	0.03	(0.07)	0.17	0.15	(0.26)	0.57	(0.29)	1.76
MDLV	0.46	0.01	(0.05)	0.08	0.48	(0.49)	0.89	(0.87)	2.33

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