Horizon Active Correlations

Mutual Funds . USA . 
Fund . Horizon Active Income
AIMNX Fund  USD 8.22  0.02  0.24%   
The current 90-days correlation between Horizon Active Income and Horizon Active Risk is 0.19 (i.e., Average 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.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Horizon Active Income. 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

  0.82HTFNX Horizon FundsPairCorr
  0.83HTFAX Horizon FundsPairCorr
  1.0AIHAX Horizon Active IncomePairCorr
  1.0AIRIX Horizon Active IncomePairCorr
  0.91MWTNX Metropolitan West TotalPairCorr
  0.9MWTSX Metropolitan West TotalPairCorr
  0.98PTTPX Pimco Total ReturnPairCorr
  0.97PTRRX Total ReturnPairCorr
  0.97PTRAX Total ReturnPairCorr
  0.97PTTRX Total ReturnPairCorr
  0.96FIWGX Strategic AdvisersPairCorr
  0.97DODIX Dodge IncomePairCorr
  0.94MWTIX Metropolitan West TotalPairCorr
  0.94MWTRX Metropolitan West TotalPairCorr
  0.78XDSMX Dreyfus StrategicPairCorr
  0.73NXJ Nuveen New JerseyPairCorr
  0.76XNXJX Nuveen New JerseyPairCorr
  0.76XLEOX Dreyfus StrategicPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
ARANX  0.57  0.00 (0.05) 0.15  0.58 
(0.63)
 1.23 
(1.17)
 3.61 
ARAAX  0.57 (0.01)(0.05) 0.15  0.58 
(0.63)
 1.23 
(1.17)
 3.61 
AAANX  0.61 (0.01)(0.03) 0.15  0.68 
(0.67)
 1.64 
(1.30)
 4.25 
HNDDX  0.47  0.03 (0.01) 0.20  0.37 
(0.54)
 1.11 
(0.78)
 2.96 
HNDRX  0.33  0.03 (0.11) 0.22  0.07 
(0.37)
 1.04 
(0.54)
 2.38 
ACRIX  0.56  0.00 (0.05) 0.15  0.58 
(0.63)
 1.22 
(1.13)
 3.60 
USRAX  0.49  0.02 (0.04) 0.18  0.39 
(0.58)
 1.23 
(0.94)
 2.76 
USRTX  0.49  0.02 (0.05) 0.18  0.38 
(0.58)
 1.23 
(0.94)
 2.76 
HADRX  0.32  0.03 (0.11) 0.22  0.10 
(0.37)
 1.04 
(0.54)
 2.39 
HADUX  0.47  0.03 (0.01) 0.20  0.37 
(0.54)
 1.11 
(0.78)
 2.96 

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