Horizon Technology Correlations

HRZN Stock

USD 9.30 0.02 0.22%

The current 90-days correlation between Horizon Technology and Gladstone Capital is 0.42 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Horizon Technology moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Horizon Technology Finance moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Horizon Technology Correlation With Market

Significant diversification

The correlation between Horizon Technology Finance and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Horizon Technology Finance 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 Technology Finance. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Horizon Stock

0.8	V	Visa Class A Sell-off Trend	Pair Corr
0.69	MA	Mastercard	Pair Corr
0.65	PT	Pintec Technology	Pair Corr
0.62	GDST	Goldenstone Acquisition	Pair Corr
0.68	SNFCA	Security National Earnings Call Tomorrow	Pair Corr
0.87	BBDC	Barings BDC	Pair Corr
0.79	COOP	Mr Cooper Group	Pair Corr
0.62	C	Citigroup Aggressive Push	Pair Corr
0.69	AC	Associated Capital	Pair Corr
0.8	BK	Bank of New York Sell-off Trend	Pair Corr

Moving against Horizon Stock

0.66	WD	Walker Dunlop	Pair Corr
0.52	ORGN	Origin Materials	Pair Corr
0.6	DHIL	Diamond Hill Investment	Pair Corr
0.59	BITF	Bitfarms	Pair Corr
0.53	CODI	Compass Diversified	Pair Corr
0.51	PYPL	PayPal Holdings	Pair Corr
0.32	AX	Axos Financial	Pair Corr
0.53	EG	Everest Group	Pair Corr
0.53	LC	LendingClub Corp	Pair Corr
0.37	IX	Orix Corp Ads	Pair Corr
0.31	CM	Canadian Imperial Bank	Pair Corr

Related Correlations Analysis

	GLAD	GAIN	PSEC	SCM	WHF	PFLT	FDUS	MAIN
GLAD		0.23	0.27	0.49	0.31	0.3	0.58	0.82	GLAD
GAIN	0.23		0.68	0.83	0.73	0.77	0.74	0.61	GAIN
PSEC	0.27	0.68		0.73	0.64	0.76	0.68	0.51	PSEC
SCM	0.49	0.83	0.73		0.84	0.81	0.92	0.81	SCM
WHF	0.31	0.73	0.64	0.84		0.58	0.84	0.61	WHF
PFLT	0.3	0.77	0.76	0.81	0.58		0.67	0.61	PFLT
FDUS	0.58	0.74	0.68	0.92	0.84	0.67		0.86	FDUS
MAIN	0.82	0.61	0.51	0.81	0.61	0.61	0.86		MAIN
	GLAD	GAIN	PSEC	SCM	WHF	PFLT	FDUS	MAIN

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Risk-Adjusted Indicators

There is a big difference between Horizon Stock performing well and Horizon Technology Company 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 Technology'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
GLAD	1.03	0.03	0.02	0.04	1.38	(0.96)	2.28	(1.90)	5.90
GAIN	0.96	0.09	0.08	0.14	0.98	(1.12)	2.21	(1.64)	6.57
PSEC	0.81	0.00	(0.01)	(0.01)	0.86	(1.17)	2.09	(1.59)	6.62
SCM	0.80	0.17	0.08	0.83	1.76	(0.79)	1.51	(1.03)	10.22
WHF	1.10	(0.05)	0.00	(0.12)	0.00	0.00	1.92	(2.50)	7.44
PFLT	0.66	0.11	0.12	0.21	0.74	(0.71)	1.45	(1.28)	4.56
FDUS	0.78	0.07	0.07	0.12	0.89	(0.80)	1.62	(1.67)	4.07
MAIN	1.05	0.12	0.09	0.15	1.20	(1.07)	2.09	(1.96)	6.72

Horizon Technology Corporate Management

John Bombara	Chief Compliance Officer, Sr. VP, General Counsel and Secretary	Profile
Daniel CFA	Chief VP	Profile
CFA CFA	Chief VP	Profile
Todd McDonald	Southeast MidAtlantic	Profile
Sara Johnson	Managing Midwest	Profile
Daniel CPA	CFO VP	Profile
Megan Bacon	Director Marketing	Profile

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