Horizon Active Correlations

Mutual Funds . USA . 
Fund . Horizon Active Asset
HASAX Fund  USD 13.98  0.05  0.36%   
The current 90-days correlation between Horizon Active Asset and Pimco Inflation Response is -0.27 (i.e., Very 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

Almost no diversification

The correlation between Horizon Active Asset and DJI is 0.9 (i.e., Almost no 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 Risk vs Return Analysis 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 nation.

Moving together with Horizon Mutual Fund

  0.98ARANX Horizon Active RiskPairCorr
  0.98ARAAX Horizon Active RiskPairCorr
  1.0AAANX Horizon Active AssetPairCorr
  0.99HNDDX Horizon Active DividendPairCorr
  0.96HNDRX Horizon Defined RiskPairCorr
  1.0ACRIX Horizon Active RiskPairCorr
  0.97USRAX Horizon Defensive EquityPairCorr
  1.0USRTX Horizon Defensive EquityPairCorr
  0.99HADRX Horizon Defined RiskPairCorr
  0.99HADUX Horizon Active DividendPairCorr
  1.0HASIX Horizon Active AssetPairCorr
  0.98HSMBX Hartford Small CapPairCorr
  0.98HSMNX Horizon Defensive SmmdPairCorr
  0.94HTFNX Horizon FundsPairCorr
  0.94HTFAX Horizon FundsPairCorr
  0.61AIMNX Horizon Active IncomePairCorr
  0.64AIRIX Horizon Active IncomePairCorr
  0.99HESAX Horizon Esg DefensivePairCorr
  0.99HESGX Horizon Esg DefensivePairCorr
  0.96PAALX All Asset FundPairCorr
  0.96PATRX Pimco All AssetPairCorr
  0.97PAAIX All Asset FundPairCorr
  0.96PALPX Pimco All AssetPairCorr
  0.93PASAX All Asset FundPairCorr
  0.96PASCX All Asset FundPairCorr
  0.96PAANX Pimco All AssetPairCorr
  0.94PAUPX Pimco All AssetPairCorr
  0.94PAUIX Pimco All AssetPairCorr
  0.61WARRX Wells Fargo AdvantagePairCorr
  0.63MIDSX Midas Fund MidasPairCorr
  0.62FGPMX Franklin Gold AndPairCorr
  0.64FKRCX Franklin Gold PreciousPairCorr
  0.64FRGOX Franklin Gold PreciousPairCorr
  1.0IPSHX Pinnacle Sherman MultiPairCorr
  0.92FCUEX Fiera Capital EquityPairCorr
  0.97AMVYX Mid Cap ValuePairCorr

Related Correlations Analysis

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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.

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