Horizon Active Correlations

HASAX Fund

USD 13.44 0.05 0.37%

The current 90-days correlation between Horizon Active Asset and T Rowe Price is 0.42 (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

Significant diversification

The correlation between Horizon Active Asset and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Horizon Active Asset 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 Asset. 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

0.96	ARANX	Horizon Active Risk	Pair Corr
0.99	ARAAX	Horizon Active Risk	Pair Corr
1.0	AAANX	Horizon Active Asset	Pair Corr
0.99	ACRIX	Horizon Active Risk	Pair Corr
0.98	USRAX	Horizon Defensive Equity	Pair Corr
0.98	USRTX	Horizon Defensive Equity	Pair Corr
1.0	HASIX	Horizon Active Asset	Pair Corr
0.86	HSMNX	Horizon Defensive Smmd	Pair Corr
0.7	HTFNX	Horizon Funds	Pair Corr
0.64	HESAX	Horizon Esg Defensive	Pair Corr
0.78	GABFX	Gmo Asset Allocation Steady Growth	Pair Corr
0.84	GCAVX	Gmo Small Cap	Pair Corr
0.72	GMCQX	Gmo Equity Allocation	Pair Corr

Moving against Horizon Mutual Fund

0.64	LFRIX	Floating Rate	Pair Corr
0.39	GAAVX	Gmo Alternative Allo	Pair Corr

Related Correlations Analysis

	PAGLX	QGMIX	ZGFIX	WRLDX	PRSAX	MSTGX
PAGLX		0.35	0.78	0.56	0.6	0.71	PAGLX
QGMIX	0.35		0.7	0.07	0.3	0.62	QGMIX
ZGFIX	0.78	0.7		0.58	0.73	0.89	ZGFIX
WRLDX	0.56	0.07	0.58		0.82	0.8	WRLDX
PRSAX	0.6	0.3	0.73	0.82		0.83	PRSAX
MSTGX	0.71	0.62	0.89	0.8	0.83		MSTGX
	PAGLX	QGMIX	ZGFIX	WRLDX	PRSAX	MSTGX

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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
PAGLX	0.57	0.01	0.02	0.03	0.82	(0.56)	1.04	(1.19)	4.08
QGMIX	0.41	0.12	0.24	(2.45)	0.24	(0.50)	0.95	(0.71)	2.42
ZGFIX	0.41	0.07	0.10	0.21	0.58	(0.44)	1.03	(0.71)	3.69
WRLDX	0.52	0.01	0.02	0.34	0.82	(0.50)	0.94	(1.14)	3.49
PRSAX	0.17	0.01	0.09	0.57	0.05	(0.27)	0.41	(0.30)	1.21
MSTGX	0.26	0.04	0.11	(2.78)	0.27	(0.31)	0.64	(0.42)	1.93

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