Horizon Active Correlations

Mutual Funds . USA . 
Fund . Horizon Active Dividend
HADUX Fund  USD 70.55  0.01  0.01%   
The current 90-days correlation between Horizon Active Dividend and Horizon Defined Risk is 0.97 (i.e., Almost no 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

Poor diversification

The correlation between Horizon Active Dividend and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Horizon Active Dividend and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Horizon Active Dividend. 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 employment.

Moving together with Horizon Mutual Fund

  0.7ARANX Horizon Active RiskPairCorr
  0.7ARAAX Horizon Active RiskPairCorr
  1.0HNDDX Horizon Active DividendPairCorr
  0.98HNDRX Horizon Defined RiskPairCorr
  0.7ACRIX Horizon Active RiskPairCorr
  0.8USRAX Horizon Defensive EquityPairCorr
  0.66USRTX Horizon Defensive EquityPairCorr
  0.98HADRX Horizon Defined RiskPairCorr
  0.88HSMNX Horizon Defensive SmmdPairCorr
  0.75HTFNX Horizon FundsPairCorr
  0.76HTFAX Horizon FundsPairCorr
  0.8HESAX Horizon Esg DefensivePairCorr
  0.85HESGX Horizon Esg DefensivePairCorr
  0.85JEPAX Jpmorgan Research EquityPairCorr
  0.87JEPCX Jpmorgan Research EquityPairCorr
  0.73JEPIX Jpmorgan Equity PremiumPairCorr
  0.97GSPKX Goldman Sachs EquityPairCorr
  0.97GVIRX Goldman Sachs EquityPairCorr
  0.97GSPAX Goldman Sachs EquityPairCorr
  0.96GSPQX Goldman Sachs EquityPairCorr
  0.97GSFPX Goldman Sachs EquityPairCorr
  0.97GIDWX Goldman Sachs EquityPairCorr

Moving against Horizon Mutual Fund

  0.36CRAIX Community ReinvestmentPairCorr

Related Correlations Analysis

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