DX vs. HRZN
DX (Dynex Capital, Inc.) and HRZN (Horizon Technology Finance Corporation) are both stocks. DX operates in REIT - Mortgage (Real Estate), while HRZN operates in Asset Management (Financial Services). Over the past 10 years, DX returned 7.05%/yr vs 0.01%/yr for HRZN. Their 0.31 correlation means their historical movements had little consistent relationship.
Performance
DX vs. HRZN - Performance Comparison
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Returns By Period
In the year-to-date period, DX achieves a 0.45% return, which is significantly higher than HRZN's -25.37% return. Over the past 10 years, DX has outperformed HRZN with an annualized return of 7.05%, while HRZN has yielded a comparatively lower 0.01% annualized return.
DX
- 1D
- -0.86%
- 1M
- -1.01%
- 6M
- -1.01%
- YTD
- 0.45%
- 1Y
- 19.23%
- 3Y*
- 14.50%
- 5Y*
- 6.83%
- 10Y*
- 7.05%
- ALL TIME*
- 8.20%
HRZN
- 1D
- -1.82%
- 1M
- -7.30%
- 6M
- -29.32%
- YTD
- -25.37%
- 1Y
- -31.80%
- 3Y*
- -19.76%
- 5Y*
- -13.59%
- 10Y*
- 0.01%
- ALL TIME*
- 2.82%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $83.86M | $75.98M | $66.06M | |
| $2.25M | $2.64M | $3.35M |
DX vs. HRZN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DX Dynex Capital, Inc. | 0.45% | 29.48% | 13.64% | 11.91% | -15.39% | 2.25% | 17.09% | 11.12% | -8.46% | 13.80% |
HRZN Horizon Technology Finance Corporation | -25.37% | -14.44% | -22.87% | 26.99% | -19.72% | 29.74% | 14.08% | 26.88% | 11.71% | 18.62% |
Correlation
The correlation between DX and HRZN is 0.25, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.25 |
Correlation (3Y) Balances recent behavior with more history. | 0.33 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.39 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.35 |
Correlation (All Time) Calculated using the full available price history since Oct 29, 2010 | 0.31 |
The correlation between DX and HRZN shifts across timeframes, from 0.25 (1 year) to 0.39 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
DX:
$1.93B
HRZN:
$190.63M
DX:
$2.43
HRZN:
$0.62
DX:
5.23
HRZN:
6.97
DX:
2.57
HRZN:
3.67
DX:
0.93
HRZN:
0.61
DX:
$886.86M
HRZN:
$53.12M
DX:
$677.89M
HRZN:
$47.15M
DX:
$771.29M
HRZN:
$51.20M
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Return for Risk
DX vs. HRZN — Risk / Return Rank
DX
HRZN
DX vs. HRZN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dynex Capital, Inc. (DX) and Horizon Technology Finance Corporation (HRZN). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| DX | HRZN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.89 | ||
| Sortino ratioReturn per unit of downside risk | +2.53 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 0.86 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 1.27 | -0.79 | +2.06 |
| Martin ratioReturn relative to average drawdown | 3.62 | -1.40 | +5.03 |
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Drawdowns
DX vs. HRZN - Drawdown Comparison
The maximum DX drawdown since its inception was -99.12%, which is greater than HRZN's maximum drawdown of -62.57%. Use the drawdown chart below to compare losses from any high point for DX and HRZN.
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Drawdown Indicators
| DX | HRZN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.12% | -62.57% | -36.55% |
Max Drawdown (1Y)Largest decline over 1 year | -15.27% | -42.21% | +26.94% |
Max Drawdown (3Y)Largest decline over 3 years | -25.81% | -59.36% | +33.55% |
Max Drawdown (5Y)Largest decline over 5 years | -33.44% | -62.57% | +29.13% |
Max Drawdown (10Y)Largest decline over 10 years | -56.76% | -62.57% | +5.81% |
Current DrawdownCurrent decline from peak | -31.25% | -56.18% | +24.93% |
Average DrawdownAverage peak-to-trough decline | -56.70% | -13.71% | -42.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.34% | 24.47% | -19.13% |
Volatility
DX vs. HRZN - Volatility Comparison
Dynex Capital, Inc. (DX) has a higher volatility of 5.34% compared to Horizon Technology Finance Corporation (HRZN) at 5.08%. This indicates that DX's price experiences larger fluctuations and is considered to be riskier than HRZN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DX | HRZN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.34% | 5.08% | +0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 14.12% | 40.09% | -25.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.64% | 42.06% | -24.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.81% | 31.47% | -7.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.90% | 36.49% | -6.59% |
Dividends
DX vs. HRZN - Dividend Comparison
DX's dividend yield for the trailing twelve months is around 16.05%, less than HRZN's 25.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DX Dynex Capital, Inc. | 16.05% | 14.13% | 11.46% | 12.46% | 12.26% | 9.34% | 9.33% | 11.87% | 12.59% | 10.27% | 12.32% | 15.12% |
HRZN Horizon Technology Finance Corporation | 25.46% | 20.47% | 15.24% | 10.40% | 10.86% | 7.85% | 9.44% | 9.28% | 10.67% | 10.70% | 12.96% | 11.76% |
Financials
DX vs. HRZN - Financials Comparison
This section allows you to compare key financial metrics between Dynex Capital, Inc. and Horizon Technology Finance Corporation. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
DX vs. HRZN - Profitability Comparison
DX - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Dynex Capital, Inc. reported a gross profit of 93.78M and revenue of 302.75M. Therefore, the gross margin over that period was 31.0%.
HRZN - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Horizon Technology Finance Corporation reported a gross profit of 0.00 and revenue of 24.08M. Therefore, the gross margin over that period was 0.0%.
DX - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Dynex Capital, Inc. reported an operating income of 77.57M and revenue of 302.75M, resulting in an operating margin of 25.6%.
HRZN - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Horizon Technology Finance Corporation reported an operating income of 0.00 and revenue of 24.08M, resulting in an operating margin of 0.0%.
DX - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Dynex Capital, Inc. reported a net income of 180.79M and revenue of 302.75M, resulting in a net margin of 59.7%.
HRZN - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Horizon Technology Finance Corporation reported a net income of 9.24M and revenue of 24.08M, resulting in a net margin of 38.4%.
Frequently Asked Questions
DX and HRZN have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DX has higher volatility (5.34%) compared to HRZN (5.08%). In terms of maximum drawdown, DX dropped -99.12% vs HRZN's -62.57%.
DX currently has the higher Sharpe Ratio (1.10 vs -0.79), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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