Horizon Active Correlations

Mutual Funds . USA . 
Fund . Horizon Active Dividend
HADUX Fund  USD 74.36  0.06  0.08%   
The current 90-days correlation between Horizon Active Dividend and Horizon Defined Risk is 0.92 (i.e., Almost no 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 Dividend and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Horizon Active Dividend 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 Dividend. 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 employment.

Moving together with Horizon Mutual Fund

  1.0ARANX Horizon Active RiskPairCorr
  1.0ARAAX Horizon Active RiskPairCorr
  1.0AAANX Horizon Active AssetPairCorr
  0.77HNDDX Horizon Active DividendPairCorr
  1.0ACRIX Horizon Active RiskPairCorr
  0.99USRAX Horizon Defensive EquityPairCorr
  0.99USRTX Horizon Defensive EquityPairCorr
  0.99HADRX Horizon Defined RiskPairCorr
  1.0HASAX Horizon Active AssetPairCorr
  1.0HASIX Horizon Active AssetPairCorr
  0.68HSMBX Hartford Small CapPairCorr
  0.68HSMNX Horizon Defensive SmmdPairCorr
  0.78HTFNX Horizon FundsPairCorr
  0.78HTFAX Horizon FundsPairCorr
  0.63AIRIX Horizon Active IncomePairCorr
  0.99HESAX Horizon Esg DefensivePairCorr
  0.79HESGX Horizon Esg DefensivePairCorr
  0.76JEPAX Jpmorgan Research EquityPairCorr
  0.76JEPCX Jpmorgan Research EquityPairCorr
  0.74JEPIX Jpmorgan Equity PremiumPairCorr
  1.0GSPKX Goldman Sachs EquityPairCorr
  1.0GVIRX Goldman Sachs EquityPairCorr
  0.99GSPAX Goldman Sachs EquityPairCorr
  0.76GSPQX Goldman Sachs EquityPairCorr
  1.0GSFPX Goldman Sachs EquityPairCorr
  1.0GIDWX Goldman Sachs EquityPairCorr
  0.99BMCIX Blackrock High EquityPairCorr
  0.7FSMMX Fs Multi StrategyPairCorr
  0.62BTMPX Ishares Msci EafePairCorr
  0.62BTMKX Blackrock InternationalPairCorr
  0.62MDIIX Blackrock Intern IndexPairCorr
  1.0FPGGX American Funds GrowthPairCorr
  0.61ACITX Inflation Adjusted BondPairCorr

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.

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