Horizon Active Correlations

AIHAX Fund

USD 8.18 0.02 0.24%

The current 90-days correlation between Horizon Active Income and Transamerica Financial Life is 0.37 (i.e., 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

Modest diversification

The correlation between Horizon Active Income and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Horizon Active Income 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 Income. 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.

Moving together with Horizon Mutual Fund

1.0	AIMNX	Horizon Active Income	Pair Corr
1.0	AIRIX	Horizon Active Income	Pair Corr
0.97	MWTNX	Metropolitan West Total	Pair Corr
0.98	MWTSX	Metropolitan West Total	Pair Corr
0.98	PTTPX	Pimco Total Return	Pair Corr
0.98	PTRRX	Total Return	Pair Corr
0.98	PTRAX	Total Return	Pair Corr
0.98	PTTRX	Total Return	Pair Corr
0.98	FIWGX	Strategic Advisers	Pair Corr
0.98	DODIX	Dodge Income	Pair Corr
0.98	MWTIX	Metropolitan West Total	Pair Corr
0.98	MWTRX	Metropolitan West Total	Pair Corr
0.88	PDI	Pimco Dynamic Income Sell-off Trend	Pair Corr
0.84	FTCAX	Templeton Strained Bond	Pair Corr
0.88	MHOIX	Mfs Global High	Pair Corr

Moving against Horizon Mutual Fund

0.56	HESGX	Horizon Esg Defensive	Pair Corr
0.54	HESAX	Horizon Esg Defensive	Pair Corr
0.42	HSMNX	Horizon Defensive Smmd	Pair Corr
0.81	TCSUX	Cleartrack 2020 Class	Pair Corr
0.79	TCTGX	Transamerica Cleartrack	Pair Corr
0.79	TCTJX	Transamerica Cleartrack	Pair Corr
0.78	TDKTX	Cleartrack 2015 Class	Pair Corr

Related Correlations Analysis

	IAAEX	AOPAX	ABYSX	SMVTX	ARSVX	AFDVX
IAAEX		0.18	0.37	0.46	0.47	0.45	IAAEX
AOPAX	0.18		-0.27	-0.17	-0.27	-0.29	AOPAX
ABYSX	0.37	-0.27		0.95	0.89	0.94	ABYSX
SMVTX	0.46	-0.17	0.95		0.91	0.9	SMVTX
ARSVX	0.47	-0.27	0.89	0.91		0.93	ARSVX
AFDVX	0.45	-0.29	0.94	0.9	0.93		AFDVX
	IAAEX	AOPAX	ABYSX	SMVTX	ARSVX	AFDVX

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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

SMVTX	+ 0.95	ABYSX
AFDVX	+ 0.94	ABYSX
AFDVX	+ 0.93	ARSVX
ARSVX	+ 0.91	SMVTX
AFDVX	+ 0.9	SMVTX
ARSVX	+ 0.89	ABYSX

High negative correlations

AFDVX	- 0.29	AOPAX
ARSVX	- 0.27	AOPAX
ABYSX	- 0.27	AOPAX
SMVTX	- 0.17	AOPAX

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
IAAEX	0.81	(0.11)	0.00	(0.26)	0.00	0.00	1.41	(1.48)	9.17
AOPAX	0.47	0.04	0.08	0.06	0.66	(0.49)	1.15	(1.14)	3.90
ABYSX	0.88	(0.08)	0.00	(0.12)	0.00	0.00	1.43	(2.08)	4.03
SMVTX	1.04	(0.14)	0.00	(0.18)	0.00	0.00	1.55	(2.22)	9.55
ARSVX	0.81	(0.21)	0.00	(0.82)	0.00	0.00	1.19	(1.54)	7.70
AFDVX	0.81	(0.17)	0.00	1.51	0.00	0.00	1.55	(1.93)	4.58

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