Horizon Active Correlations

Mutual Funds . USA . 
Fund . Horizon Active Income
AIMNX Fund  USD 7.99  0.01  0.12%   
The current 90-days correlation between Horizon Active Income and Horizon Active Risk is 0.24 (i.e., Modest 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

Good diversification

The correlation between Horizon Active Income and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Horizon Active Income 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 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

  0.62HNDDX Horizon Active DividendPairCorr
  0.62HADUX Horizon Active DividendPairCorr
  0.76HTFAX Horizon FundsPairCorr
  0.91AIHAX Horizon Active IncomePairCorr
  0.91AIRIX Horizon Active IncomePairCorr
  0.63HESAX Horizon Esg DefensivePairCorr
  0.62HESGX Horizon Esg DefensivePairCorr
  0.9MWTNX Metropolitan West TotalPairCorr
  0.91MWTSX Metropolitan West TotalPairCorr
  0.92PTTPX Pimco Total ReturnPairCorr
  0.79PTRRX Total ReturnPairCorr
  0.92PTRAX Total ReturnPairCorr
  0.78PTTRX Total ReturnPairCorr
  0.91FIWGX Strategic AdvisersPairCorr
  0.76DODIX Dodge IncomePairCorr
  0.79MWTIX Metropolitan West TotalPairCorr
  0.78MWTRX Metropolitan West TotalPairCorr

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  0.50  0.20  0.10 (3.11) 0.29 
(0.58)
 1.46 
(1.02)
 3.40 
ARAAX  0.50  0.20  0.10 (3.26) 0.29 
(0.58)
 1.42 
(0.98)
 3.41 
AAANX  0.53  0.12  0.11  0.29  0.33 
(0.62)
 1.70 
(1.24)
 3.65 
HNDDX  0.54  0.10  0.09  0.26  0.48 
(0.62)
 1.52 
(0.94)
 4.05 
HNDRX  0.31  0.12 (0.02)(5.59) 0.15 
(0.37)
 1.02 
(0.45)
 2.43 
ACRIX  0.50  0.20  0.10 (3.36) 0.30 
(0.58)
 1.42 
(0.98)
 3.43 
USRAX  0.58  0.20  0.08 (1.93) 0.46 
(0.72)
 1.45 
(1.00)
 3.53 
USRTX  0.59  0.07  0.06  0.23  0.48 
(0.73)
 1.45 
(1.00)
 3.52 
HADRX  0.31  0.12 (0.03)(5.06) 0.17 
(0.37)
 1.04 
(0.45)
 2.44 
HADUX  0.54  0.10  0.09  0.26  0.48 
(0.62)
 1.54 
(0.94)
 4.05 

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