Horizon Active Correlations

AAANX Fund

USD 14.39 0.19 1.34%

The current 90-days correlation between Horizon Active Asset and Federated Ultrashort Bond is -0.11 (i.e., Good diversification). The correlation of Horizon Active 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 Active Correlation With Market

Poor diversification

The correlation between Horizon Active Asset and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Horizon Active Asset and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Horizon Active Asset. 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 board of governors.

Moving together with Horizon Mutual Fund

0.96	PAALX	All Asset Fund	Pair Corr
0.96	PATRX	Pimco All Asset	Pair Corr
0.96	PAAIX	All Asset Fund	Pair Corr
0.96	PALPX	Pimco All Asset	Pair Corr
0.95	PASAX	All Asset Fund	Pair Corr
0.96	PASCX	All Asset Fund	Pair Corr
0.96	PAANX	Pimco All Asset	Pair Corr
0.92	PAUPX	Pimco All Asset	Pair Corr
0.92	PAUIX	Pimco All Asset	Pair Corr
0.66	FGPMX	Franklin Gold And Steady Growth	Pair Corr
0.66	FKRCX	Franklin Gold Precious Steady Growth	Pair Corr
0.62	IBM	International Business	Pair Corr

Moving against Horizon Mutual Fund

0.55	MCD	McDonalds	Pair Corr
0.38	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	FULIX	MSTBX	RULFX	PRVBX	ANBIX	BXHCX	ABNCX
FULIX		0.93	0.99	0.9	0.83	0.95	0.78	FULIX
MSTBX	0.93		0.91	0.95	0.94	0.88	0.92	MSTBX
RULFX	0.99	0.91		0.87	0.82	0.96	0.76	RULFX
PRVBX	0.9	0.95	0.87		0.94	0.82	0.91	PRVBX
ANBIX	0.83	0.94	0.82	0.94		0.78	0.99	ANBIX
BXHCX	0.95	0.88	0.96	0.82	0.78		0.72	BXHCX
ABNCX	0.78	0.92	0.76	0.91	0.99	0.72		ABNCX
	FULIX	MSTBX	RULFX	PRVBX	ANBIX	BXHCX	ABNCX

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Risk-Adjusted Indicators

There is a big difference between Horizon Mutual Fund performing well and Horizon Active 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 Active'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
FULIX	0.06	0.01	(1.64)	2.46	0.00	(0.19)	0.11	(0.11)	0.55
MSTBX	0.10	0.01	(1.35)	1.07	0.00	(0.14)	0.21	(0.21)	0.41
RULFX	0.05	0.00	0.00	0.00	0.00	0.00	0.10	(0.10)	0.50
PRVBX	0.09	0.02	(1.22)	(6.84)	0.00	(0.10)	0.20	(0.17)	0.63
ANBIX	0.14	0.03	(0.68)	(1.83)	0.00	(0.16)	0.29	(0.29)	0.97
BXHCX	0.15	0.08	(0.63)	(2.92)	0.00	(0.25)	0.50	(0.13)	1.02
ABNCX	0.15	0.02	(0.63)	(14.44)	0.08	(0.17)	0.30	(0.39)	1.09

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