Horizon Active Correlations

ACRIX Fund

USD 23.96 0.10 0.42%

The current 90-days correlation between Horizon Active Risk and Guidemark Large Cap is 0.47 (i.e., Very weak 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 Risk and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Horizon Active Risk and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Horizon Active Risk. 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 gross domestic product.

Moving together with Horizon Mutual Fund

1.0	ARANX	Horizon Active Risk	Pair Corr
1.0	ARAAX	Horizon Active Risk	Pair Corr
0.98	AAANX	Horizon Active Asset	Pair Corr
0.67	HNDDX	Horizon Active Dividend	Pair Corr
0.98	USRAX	Horizon Defensive Equity	Pair Corr
0.98	USRTX	Horizon Defensive Equity	Pair Corr
0.67	HADUX	Horizon Active Dividend	Pair Corr
0.98	HASAX	Horizon Active Asset	Pair Corr
0.98	HASIX	Horizon Active Asset	Pair Corr
0.72	HSMNX	Horizon Defensive Smmd	Pair Corr
0.63	HESAX	Horizon Esg Defensive	Pair Corr
0.63	HESGX	Horizon Esg Defensive	Pair Corr
0.62	FFBTX	Fidelity Freedom Blend	Pair Corr
0.67	GCAVX	Gmo Small Cap	Pair Corr
0.61	GMCQX	Gmo Equity Allocation	Pair Corr

Moving against Horizon Mutual Fund

0.49

GAAVX

Gmo Alternative Allo

Pair Corr

Related Correlations Analysis

	GMLVX	OAKLX	AMFFX	FCLKX	PAVLX	LTFOX	CMIFX
GMLVX		0.2	0.56	0.07	0.58	0.33	0.6	GMLVX
OAKLX	0.2		0.79	0.94	0.71	0.95	-0.17	OAKLX
AMFFX	0.56	0.79		0.64	0.87	0.87	0.29	AMFFX
FCLKX	0.07	0.94	0.64		0.57	0.89	-0.36	FCLKX
PAVLX	0.58	0.71	0.87	0.57		0.85	0.53	PAVLX
LTFOX	0.33	0.95	0.87	0.89	0.85		0.04	LTFOX
CMIFX	0.6	-0.17	0.29	-0.36	0.53	0.04		CMIFX
	GMLVX	OAKLX	AMFFX	FCLKX	PAVLX	LTFOX	CMIFX

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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

LTFOX	+ 0.95	OAKLX
FCLKX	+ 0.94	OAKLX
LTFOX	+ 0.89	FCLKX
PAVLX	+ 0.87	AMFFX
LTFOX	+ 0.87	AMFFX
LTFOX	+ 0.85	PAVLX

High negative correlations

CMIFX	- 0.36	FCLKX
CMIFX	- 0.17	OAKLX

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
GMLVX	0.71	0.04	0.08	0.03	0.91	(0.77)	1.57	(1.62)	5.51
OAKLX	0.76	(0.01)	0.00	(0.08)	0.00	0.00	1.40	(1.88)	3.58
AMFFX	0.63	(0.02)	0.00	(0.10)	0.00	0.00	1.09	(1.46)	4.69
FCLKX	0.81	0.00	0.00	(0.07)	0.00	0.00	1.58	(2.15)	5.00
PAVLX	0.62	0.04	0.09	0.01	0.76	(0.70)	1.20	(1.16)	3.20
LTFOX	0.69	0.01	0.00	(0.06)	0.00	0.00	1.42	(1.60)	3.58
CMIFX	0.07	0.01	0.53	2.15	0.00	(0.12)	0.10	(0.10)	0.41

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