Horizon Spin-off Correlations

LSHCX Fund

USD 33.63 1.54 4.80%

The current 90-days correlation between Horizon Spin Off and Franklin Mutual Global is -0.27 (i.e., Very good diversification). The correlation of Horizon Spin-off 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 Spin-off Correlation With Market

Good diversification

The correlation between Horizon Spin Off And and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Horizon Spin Off And and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Horizon Spin Off And. 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 main economic indicators.

Moving together with Horizon Mutual Fund

0.98	WWNPX	Kinetics Paradigm	Pair Corr
0.75	WWWEX	Kinetics Global	Pair Corr
0.68	KMKCX	Kinetics Market Oppo	Pair Corr
0.95	KMKAX	Kinetics Market Oppo	Pair Corr
0.98	KNPAX	Kinetics Paradigm	Pair Corr
0.98	KNPCX	Kinetics Paradigm	Pair Corr
0.98	KNPYX	Kinetics Paradigm	Pair Corr
0.8	LSHUX	Horizon Spin Off	Pair Corr
0.8	LSHAX	Horizon Spin Off	Pair Corr
0.8	KSCOX	Kinetics Small Cap	Pair Corr
0.65	PGLSX	Global Multi Strategy	Pair Corr
0.65	HWACX	Hotchkis Wiley Value	Pair Corr

Related Correlations Analysis

	TEDIX	MSTGX	ANAGX	GWOAX	BCGDX	WRLDX	LFLCX
TEDIX		0.86	0.77	0.8	0.76	0.83	0.87	TEDIX
MSTGX	0.86		0.87	0.71	0.66	0.91	0.98	MSTGX
ANAGX	0.77	0.87		0.65	0.6	0.8	0.92	ANAGX
GWOAX	0.8	0.71	0.65		0.97	0.78	0.72	GWOAX
BCGDX	0.76	0.66	0.6	0.97		0.74	0.66	BCGDX
WRLDX	0.83	0.91	0.8	0.78	0.74		0.9	WRLDX
LFLCX	0.87	0.98	0.92	0.72	0.66	0.9		LFLCX
	TEDIX	MSTGX	ANAGX	GWOAX	BCGDX	WRLDX	LFLCX

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Risk-Adjusted Indicators

There is a big difference between Horizon Mutual Fund performing well and Horizon Spin-off 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 Spin-off'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
TEDIX	0.66	0.00	0.00	(0.03)	0.00	0.00	1.01	(1.47)	7.35
MSTGX	0.31	0.04	0.17	(0.71)	0.34	(0.34)	0.74	(0.62)	1.58
ANAGX	0.18	0.00	0.12	0.04	0.19	(0.27)	0.44	(0.44)	1.46
GWOAX	0.57	0.07	0.10	0.08	0.67	(0.61)	1.29	(1.13)	3.92
BCGDX	0.61	0.06	0.08	0.07	0.80	(0.68)	1.28	(1.20)	3.24
WRLDX	0.64	(0.02)	0.00	0.09	0.00	0.00	1.24	(1.68)	2.96
LFLCX	0.18	0.01	0.18	(0.39)	0.15	(0.21)	0.43	(0.33)	0.98

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Horizon Spin-off Correlations

Horizon Spin-off Correlation With Market

Good diversification

Moving together with Horizon Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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