Horizon Active Correlations

Mutual Funds . USA . 
Fund . Horizon Active Asset
HASAX Fund  USD 14.04  0.02  0.14%   
The current 90-days correlation between Horizon Active Asset and Sprott Gold Equity is 0.09 (i.e., Significant 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

Very poor diversification

The correlation between Horizon Active Asset and DJI is 0.89 (i.e., Very 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 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

  1.0ARANX Horizon Active RiskPairCorr
  1.0ARAAX Horizon Active RiskPairCorr
  1.0AAANX Horizon Active AssetPairCorr
  0.99HNDDX Horizon Active DividendPairCorr
  0.99HNDRX Horizon Defined RiskPairCorr
  1.0ACRIX Horizon Active RiskPairCorr
  1.0USRAX 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
  0.61AIRIX Horizon Active IncomePairCorr
  0.99HESAX Horizon Esg DefensivePairCorr
  0.99HESGX Horizon Esg DefensivePairCorr
  0.97PAALX All Asset FundPairCorr
  0.97PATRX Pimco All AssetPairCorr
  0.97PAAIX All Asset FundPairCorr
  0.97PALPX Pimco All AssetPairCorr
  0.96PASAX All Asset FundPairCorr
  0.97PASCX All Asset FundPairCorr
  0.97PAANX Pimco All AssetPairCorr
  0.94PAUPX Pimco All AssetPairCorr
  0.95PAUIX Pimco All AssetPairCorr
  0.99IPSHX Pinnacle Sherman MultiPairCorr
  0.96FCUEX Fiera Capital EquityPairCorr
  0.96AMVYX Mid Cap ValuePairCorr

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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