Horizon Active Asset Fund Market Value
| HASAX Fund | USD 14.29 0.13 0.92% |
| Symbol | Horizon |
Horizon Active 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Horizon Active's mutual fund what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Horizon Active.
| 05/04/2022 |
| 04/23/2024 |
If you would invest 0.00 in Horizon Active on May 4, 2022 and sell it all today you would earn a total of 0.00 from holding Horizon Active Asset or generate 0.0% return on investment in Horizon Active over 720 days. Horizon Active is related to or competes with Horizon Active, Horizon Defined, Horizon Us, Horizon Us, Horizon Defined, and Horizon Active. The adviser selects asset classes using a flexible approach that allocates the Allocation funds portfolio between asset ... More
Horizon Active Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Horizon Active's mutual fund current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Horizon Active Asset upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.7406 | |||
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 3.31 | |||
| Value At Risk | (1.16) | |||
| Potential Upside | 1.06 |
Horizon Active Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Horizon Active's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Horizon Active's standard deviation. In reality, there are many statistical measures that can use Horizon Active historical prices to predict the future Horizon Active's volatility.| Risk Adjusted Performance | 0.0562 | |||
| Jensen Alpha | (0.03) | |||
| Total Risk Alpha | (0.04) | |||
| Sortino Ratio | (0.03) | |||
| Treynor Ratio | 0.0533 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Horizon Active's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Horizon Active Asset Backtested Returns
We consider Horizon Active very steady. Horizon Active Asset holds Efficiency (Sharpe) Ratio of 0.0561, which attests that the entity had a 0.0561% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Horizon Active Asset, which you can use to evaluate the volatility of the entity. Please check out Horizon Active's Market Risk Adjusted Performance of 0.0633, downside deviation of 0.7406, and Risk Adjusted Performance of 0.0562 to validate if the risk estimate we provide is consistent with the expected return of 0.0408%. The fund retains a Market Volatility (i.e., Beta) of 1.02, which attests to a somewhat significant risk relative to the market. Horizon Active returns are very sensitive to returns on the market. As the market goes up or down, Horizon Active is expected to follow.
Auto-correlation | 0.12 |
Insignificant predictability
Horizon Active Asset has insignificant predictability. Overlapping area represents the amount of predictability between Horizon Active time series from 4th of May 2022 to 29th of April 2023 and 29th of April 2023 to 23rd of April 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Horizon Active Asset price movement. The serial correlation of 0.12 indicates that less than 12.0% of current Horizon Active price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.12 | |
| Spearman Rank Test | -0.18 | |
| Residual Average | 0.0 | |
| Price Variance | 0.73 |
Horizon Active Asset lagged returns against current returns
Autocorrelation, which is Horizon Active mutual fund's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Horizon Active's mutual fund expected returns. We can calculate the autocorrelation of Horizon Active returns to help us make a trade decision. For example, suppose you find that Horizon Active has exhibited high autocorrelation historically, and you observe that the mutual fund is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Horizon Active regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Horizon Active mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Horizon Active mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Horizon Active mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Horizon Active Lagged Returns
When evaluating Horizon Active's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Horizon Active mutual fund have on its future price. Horizon Active autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Horizon Active autocorrelation shows the relationship between Horizon Active mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Horizon Active Asset.
Regressed Prices |
| Timeline |
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Horizon Active in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Horizon Active's short interest history, or implied volatility extrapolated from Horizon Active options trading.
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Try AI Portfolio ArchitectCheck out Horizon Active Correlation, Horizon Active Volatility and Horizon Active Alpha and Beta module to complement your research on Horizon Active. Note that the Horizon Active Asset information on this page should be used as a complementary analysis to other Horizon Active's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
Horizon Active technical mutual fund analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, fund market cycles, or different charting patterns.