Horizon Esg Correlations

HESGX Fund

USD 41.97 0.01 0.02%

The current 90-days correlation between Horizon Esg Defensive and Ab Bond Inflation is -0.1 (i.e., Good 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

Good diversification

The correlation between Horizon Esg Defensive and DJI is -0.05 (i.e., Good 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 price.

Moving together with Horizon Mutual Fund

0.92	AAANX	Horizon Active Asset	Pair Corr
0.86	HNDDX	Horizon Active Dividend	Pair Corr
0.91	HNDRX	Horizon Defined Risk	Pair Corr
0.8	ACRIX	Horizon Active Risk	Pair Corr
0.75	USRAX	Horizon Defensive Equity	Pair Corr
0.75	USRTX	Horizon Defensive Equity	Pair Corr
0.91	HADRX	Horizon Defined Risk	Pair Corr
0.86	HADUX	Horizon Active Dividend	Pair Corr
0.92	HASIX	Horizon Active Asset	Pair Corr
0.94	HSMNX	Horizon Defensive Smmd	Pair Corr
1.0	HESAX	Horizon Esg Defensive	Pair Corr
0.76	VTSAX	Vanguard Total Stock	Pair Corr
0.76	VFIAX	Vanguard 500 Index	Pair Corr
0.76	VTSMX	Vanguard Total Stock	Pair Corr
0.76	VITSX	Vanguard Total Stock	Pair Corr
0.76	VSMPX	Vanguard Total Stock	Pair Corr
0.76	VSTSX	Vanguard Total Stock	Pair Corr
0.76	VFINX	Vanguard 500 Index	Pair Corr
0.76	VFFSX	Vanguard 500 Index	Pair Corr
0.72	VINIX	Vanguard Institutional	Pair Corr
0.72	VIIIX	Vanguard Institutional	Pair Corr
0.71	SPGSX	State Street Premier	Pair Corr

Moving against Horizon Mutual Fund

0.6	AIRIX	Horizon Active Income	Pair Corr
0.59	AIHAX	Horizon Active Income	Pair Corr
0.52	AIMNX	Horizon Active Income	Pair Corr
0.59	MFBIX	Mesirow Enhanced Core	Pair Corr
0.51	AGVCX	Invesco Government	Pair Corr
0.5	BRUFX	Bruce Fund Bruce	Pair Corr
0.5	XSWZX	Swiss Helvetia	Pair Corr
0.36	PIIMX	International Emerging	Pair Corr
0.34	BLSAX	Blackrock Emerging	Pair Corr

Related Correlations Analysis

	ABNCX	CBOEX	BBINX	FMUUX	CSBCX	JAFLX	MIIIX
ABNCX		0.97	0.88	0.95	0.97	0.97	0.96	ABNCX
CBOEX	0.97		0.87	0.92	0.98	0.97	0.97	CBOEX
BBINX	0.88	0.87		0.88	0.92	0.9	0.88	BBINX
FMUUX	0.95	0.92	0.88		0.91	0.88	0.86	FMUUX
CSBCX	0.97	0.98	0.92	0.91		0.99	0.99	CSBCX
JAFLX	0.97	0.97	0.9	0.88	0.99		1.0	JAFLX
MIIIX	0.96	0.97	0.88	0.86	0.99	1.0		MIIIX
	ABNCX	CBOEX	BBINX	FMUUX	CSBCX	JAFLX	MIIIX

Click cells to compare fundamentals

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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
ABNCX	0.16	0.02	0.44	0.96	0.00	(0.20)	0.30	(0.30)	0.90
CBOEX	0.17	0.02	0.39	0.64	0.07	(0.21)	0.33	(0.24)	0.98
BBINX	0.13	(0.01)	0.24	(0.26)	0.17	(0.18)	0.29	(0.30)	0.78
FMUUX	0.03	0.00	0.00	(0.26)	0.00	0.00	0.10	0.00	0.40
CSBCX	0.22	0.02	0.28	0.38	0.20	(0.25)	0.49	(0.41)	1.42
JAFLX	0.24	0.02	0.28	0.42	0.20	(0.30)	0.61	(0.41)	1.44
MIIIX	0.24	0.02	0.27	0.56	0.20	(0.32)	0.54	(0.43)	1.42

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