Horizon Esg Correlations

HESAX Fund

USD 46.39 0.56 1.22%

The current 90-days correlation between Horizon Esg Defensive and Qs Moderate Growth is 0.75 (i.e., Poor diversification). The correlation of Horizon Esg 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 Esg Correlation With Market

Significant diversification

The correlation between Horizon Esg Defensive and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Horizon Esg Defensive 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 Esg Defensive. 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

0.85	ARANX	Horizon Active Risk	Pair Corr
0.84	ARAAX	Horizon Active Risk	Pair Corr
0.92	AAANX	Horizon Active Asset	Pair Corr
0.98	HNDDX	Horizon Active Dividend	Pair Corr
0.96	HNDRX	Horizon Defined Risk	Pair Corr
0.85	ACRIX	Horizon Active Risk	Pair Corr
0.97	USRAX	Horizon Defensive Equity	Pair Corr
0.97	USRTX	Horizon Defensive Equity	Pair Corr
0.96	HADRX	Horizon Defined Risk	Pair Corr
0.98	HADUX	Horizon Active Dividend	Pair Corr
0.92	HASAX	Horizon Active Asset	Pair Corr
0.92	HASIX	Horizon Active Asset	Pair Corr
0.93	HESGX	Horizon Esg Defensive	Pair Corr
0.71	VTSAX	Vanguard Total Stock	Pair Corr
0.69	VFIAX	Vanguard 500 Index	Pair Corr
0.71	VTSMX	Vanguard Total Stock	Pair Corr
0.69	VITSX	Vanguard Total Stock	Pair Corr
0.71	VSMPX	Vanguard Total Stock	Pair Corr
0.71	VSTSX	Vanguard Total Stock	Pair Corr
0.69	VFINX	Vanguard 500 Index	Pair Corr
0.71	VFFSX	Vanguard 500 Index	Pair Corr
0.71	VINIX	Vanguard Institutional	Pair Corr
0.71	VIIIX	Vanguard Institutional	Pair Corr
0.91	RNGHX	New Economy Fund	Pair Corr
0.67	ELFNX	Elfun Trusts Elfun	Pair Corr
0.96	AMGOX	Alger Mid Cap	Pair Corr
0.86	FGB	First Trust Specialty	Pair Corr
0.81	AMECX	Income Fund	Pair Corr
0.92	CLM	Cornerstone Strategic	Pair Corr
0.76	FSUTX	Utilities Portfolio	Pair Corr
0.81	RGGEX	American Funds Global	Pair Corr
0.65	VAADX	Virtus Convertible	Pair Corr

Moving against Horizon Mutual Fund

0.46	AIHAX	Horizon Active Income	Pair Corr
0.45	AIMNX	Horizon Active Income	Pair Corr
0.45	AIRIX	Horizon Active Income	Pair Corr

Related Correlations Analysis

	SCGCX	PRNHX	LMLRX	LANIX	TFAGX	FGTZX	LGLSX
SCGCX		0.91	0.8	0.99	0.84	0.98	0.92	SCGCX
PRNHX	0.91		0.63	0.93	0.86	0.87	0.94	PRNHX
LMLRX	0.8	0.63		0.74	0.51	0.82	0.57	LMLRX
LANIX	0.99	0.93	0.74		0.87	0.97	0.95	LANIX
TFAGX	0.84	0.86	0.51	0.87		0.82	0.88	TFAGX
FGTZX	0.98	0.87	0.82	0.97	0.82		0.87	FGTZX
LGLSX	0.92	0.94	0.57	0.95	0.88	0.87		LGLSX
	SCGCX	PRNHX	LMLRX	LANIX	TFAGX	FGTZX	LGLSX

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Risk-Adjusted Indicators

There is a big difference between Horizon Mutual Fund performing well and Horizon Esg 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 Esg'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
SCGCX	0.38	0.06	(0.10)	0.98	0.29	(0.46)	0.87	(0.71)	2.67
PRNHX	0.77	0.14	0.05	0.70	0.87	(0.85)	1.80	(1.29)	6.84
LMLRX	0.23	0.02	(0.30)	0.35	0.16	(0.29)	0.61	(0.45)	1.36
LANIX	0.44	0.08	(0.04)	1.13	0.33	(0.53)	0.91	(0.82)	3.06
TFAGX	0.48	0.05	0.03	0.18	0.40	(0.55)	1.03	(1.00)	4.02
FGTZX	0.39	0.06	(0.10)	1.21	0.35	(0.45)	1.00	(0.72)	2.63
LGLSX	0.82	0.27	0.15	1.46	0.76	(0.89)	2.43	(1.68)	5.68

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