Horizon Active Correlations

ARANX Fund

USD 23.88 0.10 0.42%

The current 90-days correlation between Horizon Active Risk and Ft 9331 Corporate is 0.23 (i.e., Modest 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 board of governors.

Moving together with Horizon Mutual Fund

1.0	ARAAX	Horizon Active Risk	Pair Corr
0.98	AAANX	Horizon Active Asset	Pair Corr
0.67	HNDDX	Horizon Active Dividend	Pair Corr
1.0	ACRIX	Horizon Active Risk	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
0.61	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

	FLQTVX	ANBIX	CBOEX	MSTBX	PRVBX	TAADX	FMUUX
FLQTVX		0.94	0.96	0.94	0.94	0.98	0.84	FLQTVX
ANBIX	0.94		0.97	0.98	0.97	0.96	0.96	ANBIX
CBOEX	0.96	0.97		0.99	0.97	0.97	0.92	CBOEX
MSTBX	0.94	0.98	0.99		0.98	0.96	0.94	MSTBX
PRVBX	0.94	0.97	0.97	0.98		0.95	0.94	PRVBX
TAADX	0.98	0.96	0.97	0.96	0.95		0.9	TAADX
FMUUX	0.84	0.96	0.92	0.94	0.94	0.9		FMUUX
	FLQTVX	ANBIX	CBOEX	MSTBX	PRVBX	TAADX	FMUUX

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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
FLQTVX	0.12	0.00	0.44	0.05	0.11	(0.12)	0.24	(0.23)	0.77
ANBIX	0.16	0.03	0.41	1.08	0.00	(0.21)	0.38	(0.38)	0.98
CBOEX	0.17	0.02	0.39	0.64	0.07	(0.21)	0.33	(0.24)	0.98
MSTBX	0.11	0.02	0.51	3.47	0.00	(0.15)	0.21	(0.21)	0.62
PRVBX	0.10	0.01	0.68	0.24	0.00	(0.13)	0.23	(0.17)	0.53
TAADX	0.22	0.02	0.27	0.33	0.18	(0.28)	0.50	(0.38)	1.27
FMUUX	0.03	0.00	0.00	(0.26)	0.00	0.00	0.10	0.00	0.40

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