Horizon Spin Correlations

LSHUX Fund

USD 36.03 2.23 5.83%

The current 90-days correlation between Horizon Spin Off and Wmcanx is 0.48 (i.e., Very weak diversification). The correlation of Horizon Spin 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 Correlation With Market

Weak diversification

The correlation between Horizon Spin Off And and DJI is 0.34 (i.e., Weak 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 employment.

Moving together with Horizon Mutual Fund

0.79	WWNPX	Kinetics Paradigm	Pair Corr
0.61	WWWEX	Kinetics Global	Pair Corr
0.89	KMKCX	Kinetics Market Oppo	Pair Corr
0.79	KMKAX	Kinetics Market Oppo	Pair Corr
0.79	KNPAX	Kinetics Paradigm	Pair Corr
0.79	KNPCX	Kinetics Paradigm	Pair Corr
0.79	KNPYX	Kinetics Paradigm	Pair Corr
0.8	LSHCX	Horizon Spin Off	Pair Corr
1.0	LSHAX	Horizon Spin Off	Pair Corr
0.99	KSCOX	Kinetics Small Cap	Pair Corr
0.62	FAIRX	The Fairholme	Pair Corr
0.61	PGLSX	Global Multi Strategy	Pair Corr
0.66	HWACX	Hotchkis Wiley Value	Pair Corr

Related Correlations Analysis

	WMCANX	RTIUX	OPTCX	IAADX	FZNOPX	XHYIX	FZDAQX	FSULTX
WMCANX		0.22	0.02	0.18	0.74	0.59	0.56	0.06	WMCANX
RTIUX	0.22		0.77	0.94	-0.24	-0.11	0.34	0.64	RTIUX
OPTCX	0.02	0.77		0.7	-0.26	-0.26	0.16	0.37	OPTCX
IAADX	0.18	0.94	0.7		-0.32	-0.07	0.37	0.71	IAADX
FZNOPX	0.74	-0.24	-0.26	-0.32		0.6	0.25	-0.37	FZNOPX
XHYIX	0.59	-0.11	-0.26	-0.07	0.6		0.39	-0.03	XHYIX
FZDAQX	0.56	0.34	0.16	0.37	0.25	0.39		0.61	FZDAQX
FSULTX	0.06	0.64	0.37	0.71	-0.37	-0.03	0.61		FSULTX
	WMCANX	RTIUX	OPTCX	IAADX	FZNOPX	XHYIX	FZDAQX	FSULTX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

IAADX	+ 0.94	RTIUX
OPTCX	+ 0.77	RTIUX
FZNOPX	+ 0.74	WMCANX
FSULTX	+ 0.71	IAADX
IAADX	+ 0.7	OPTCX
FSULTX	+ 0.64	RTIUX

High negative correlations

FSULTX	- 0.37	FZNOPX
FZNOPX	- 0.32	IAADX
XHYIX	- 0.26	OPTCX
FZNOPX	- 0.26	OPTCX
FZNOPX	- 0.24	RTIUX
XHYIX	- 0.11	RTIUX

Risk-Adjusted Indicators

There is a big difference between Horizon Mutual Fund performing well and Horizon Spin 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'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
WMCANX	0.61	0.04	0.06	0.03	0.75	(0.67)	1.37	(1.29)	3.48
RTIUX	0.61	0.07	0.12	(0.48)	0.76	(0.66)	1.47	(1.45)	5.02
OPTCX	0.07	0.00	0.12	0.59	0.06	(0.17)	0.21	(0.21)	0.93
IAADX	0.20	0.01	0.17	0.20	0.16	(0.25)	0.44	(0.33)	0.88
FZNOPX	0.77	0.04	0.06	0.03	0.85	(0.87)	1.93	(1.63)	3.75
XHYIX	0.16	(0.03)	0.00	0.81	0.00	0.00	0.25	(0.49)	1.31
FZDAQX	0.12	0.00	0.10	(0.06)	0.18	(0.15)	0.21	(0.41)	1.03
FSULTX	0.28	0.01	0.11	0.50	0.35	(0.30)	0.61	(0.51)	1.75

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