Horizon Us Correlations

USRTX Fund

USD 30.39 0.40 1.33%

The current 90-days correlation between Horizon Defensive Equity and Transamerica Emerging Markets is 0.33 (i.e., Weak diversification). The correlation of Horizon Us 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 Us Correlation With Market

Good diversification

The correlation between Horizon Defensive Equity and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Horizon Defensive Equity and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Horizon Defensive Equity. 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 estimate.

Moving together with Horizon Mutual Fund

0.97	ARANX	Horizon Active Risk	Pair Corr
0.97	ARAAX	Horizon Active Risk	Pair Corr
0.83	AAANX	Horizon Active Asset	Pair Corr
0.67	HNDDX	Horizon Active Dividend	Pair Corr
0.97	ACRIX	Horizon Active Risk	Pair Corr
1.0	USRAX	Horizon Defensive Equity	Pair Corr
0.67	HADUX	Horizon Active Dividend	Pair Corr
0.83	HASAX	Horizon Active Asset	Pair Corr
0.83	HASIX	Horizon Active Asset	Pair Corr
0.61	HSMNX	Horizon Defensive Smmd	Pair Corr
0.67	HESAX	Horizon Esg Defensive	Pair Corr
0.67	HESGX	Horizon Esg Defensive	Pair Corr
0.75	VTSAX	Vanguard Total Stock	Pair Corr
0.76	VFIAX	Vanguard 500 Index	Pair Corr
0.75	VTSMX	Vanguard Total Stock	Pair Corr
0.62	VITSX	Vanguard Total Stock	Pair Corr
0.75	VSMPX	Vanguard Total Stock	Pair Corr
0.75	VSTSX	Vanguard Total Stock	Pair Corr
0.76	VFINX	Vanguard 500 Index	Pair Corr
0.76	VFFSX	Vanguard 500 Index	Pair Corr
0.66	VINIX	Vanguard Institutional	Pair Corr
0.66	VIIIX	Vanguard Institutional	Pair Corr

Moving against Horizon Mutual Fund

0.32

AGVCX

Invesco Government

Pair Corr

Related Correlations Analysis

	TEOJX	AMTOX	IGIEX	SEDAX	FWOKX	BXECX
TEOJX		0.63	0.82	0.85	0.84	0.85	TEOJX
AMTOX	0.63		0.63	0.76	0.85	0.7	AMTOX
IGIEX	0.82	0.63		0.92	0.85	0.92	IGIEX
SEDAX	0.85	0.76	0.92		0.94	0.96	SEDAX
FWOKX	0.84	0.85	0.85	0.94		0.91	FWOKX
BXECX	0.85	0.7	0.92	0.96	0.91		BXECX
	TEOJX	AMTOX	IGIEX	SEDAX	FWOKX	BXECX

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Risk-Adjusted Indicators

There is a big difference between Horizon Mutual Fund performing well and Horizon Us 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 Us' 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
TEOJX	0.78	0.09	0.08	5.99	0.93	(0.83)	1.54	(1.53)	5.83
AMTOX	0.48	0.05	0.06	0.12	0.58	(0.55)	1.00	(1.10)	2.56
IGIEX	0.24	0.00	0.04	0.00	0.25	(0.31)	0.61	(0.49)	1.59
SEDAX	0.24	0.03	0.08	0.64	0.16	(0.33)	0.59	(0.36)	1.30
FWOKX	0.73	0.08	0.07	0.12	1.00	(0.73)	1.38	(1.45)	6.10
BXECX	0.19	0.04	0.12	(0.45)	0.00	(0.32)	0.55	(0.27)	1.21

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