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HRZN vs. DX
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility
Financials

Correlation

The correlation between HRZN and DX is 0.36, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.


Performance

HRZN vs. DX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Technology Finance Corporation (HRZN) and Dynex Capital, Inc. (DX). The values are adjusted to include any dividend payments, if applicable.

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Key characteristics

Sharpe Ratio

HRZN:

-0.86

DX:

0.69

Sortino Ratio

HRZN:

-1.00

DX:

0.77

Omega Ratio

HRZN:

0.83

DX:

1.11

Calmar Ratio

HRZN:

-0.60

DX:

0.18

Martin Ratio

HRZN:

-1.42

DX:

1.65

Ulcer Index

HRZN:

18.48%

DX:

6.11%

Daily Std Dev

HRZN:

30.01%

DX:

19.87%

Max Drawdown

HRZN:

-60.44%

DX:

-99.12%

Current Drawdown

HRZN:

-40.16%

DX:

-46.54%

Fundamentals

Market Cap

HRZN:

$301.45M

DX:

$1.27B

EPS

HRZN:

-$0.95

DX:

$0.79

PEG Ratio

HRZN:

2.07

DX:

-1.31

PS Ratio

HRZN:

3.07

DX:

11.76

PB Ratio

HRZN:

0.99

DX:

0.99

Total Revenue (TTM)

HRZN:

$66.62M

DX:

-$37.65M

Gross Profit (TTM)

HRZN:

$59.77M

DX:

$177.16M

EBITDA (TTM)

HRZN:

$14.03M

DX:

$171.84M

Returns By Period

In the year-to-date period, HRZN achieves a -11.49% return, which is significantly lower than DX's 1.02% return. Over the past 10 years, HRZN has underperformed DX with an annualized return of 4.31%, while DX has yielded a comparatively higher 5.26% annualized return.


HRZN

YTD

-11.49%

1M

-13.37%

6M

-13.05%

1Y

-26.77%

3Y*

-3.36%

5Y*

3.53%

10Y*

4.31%

DX

YTD

1.02%

1M

-1.71%

6M

2.23%

1Y

11.72%

3Y*

2.42%

5Y*

10.03%

10Y*

5.26%

*Annualized

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Dynex Capital, Inc.

Go deeper with the Portfolio Analysis tool — backtest performance, assess risk, compare to benchmarks, and more

Risk-Adjusted Performance

HRZN vs. DX — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HRZN
The Risk-Adjusted Performance Rank of HRZN is 1010
Overall Rank
The Sharpe Ratio Rank of HRZN is 88
Sharpe Ratio Rank
The Sortino Ratio Rank of HRZN is 1313
Sortino Ratio Rank
The Omega Ratio Rank of HRZN is 88
Omega Ratio Rank
The Calmar Ratio Rank of HRZN is 1414
Calmar Ratio Rank
The Martin Ratio Rank of HRZN is 99
Martin Ratio Rank

DX
The Risk-Adjusted Performance Rank of DX is 6666
Overall Rank
The Sharpe Ratio Rank of DX is 7676
Sharpe Ratio Rank
The Sortino Ratio Rank of DX is 6060
Sortino Ratio Rank
The Omega Ratio Rank of DX is 6161
Omega Ratio Rank
The Calmar Ratio Rank of DX is 6161
Calmar Ratio Rank
The Martin Ratio Rank of DX is 7171
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

HRZN vs. DX - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Technology Finance Corporation (HRZN) and Dynex Capital, Inc. (DX). 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.


The current HRZN Sharpe Ratio is -0.86, which is lower than the DX Sharpe Ratio of 0.69. The chart below compares the historical Sharpe Ratios of HRZN and DX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


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Go to the full Sharpe Ratio tool to analyze any stock or portfolio. Customize time frames, set your own risk-free rate, and more

Dividends

HRZN vs. DX - Dividend Comparison

HRZN's dividend yield for the trailing twelve months is around 17.67%, more than DX's 14.85% yield.


TTM20242023202220212020201920182017201620152014
HRZN
Horizon Technology Finance Corporation
17.67%14.68%10.02%10.43%7.54%9.44%9.28%10.67%10.70%12.96%11.76%9.86%
DX
Dynex Capital, Inc.
14.85%11.46%12.46%12.26%9.34%9.33%11.87%12.59%10.27%12.32%15.12%12.12%

Drawdowns

HRZN vs. DX - Drawdown Comparison

The maximum HRZN drawdown since its inception was -60.44%, smaller than the maximum DX drawdown of -99.12%. Use the drawdown chart below to compare losses from any high point for HRZN and DX.


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Go to the full Drawdowns tool for more analysis options, including inflation-adjusted drawdowns, and more

Volatility

HRZN vs. DX - Volatility Comparison

Horizon Technology Finance Corporation (HRZN) has a higher volatility of 20.03% compared to Dynex Capital, Inc. (DX) at 5.53%. This indicates that HRZN's price experiences larger fluctuations and is considered to be riskier than DX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


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Financials

HRZN vs. DX - Financials Comparison

This section allows you to compare key financial metrics between Horizon Technology Finance Corporation and Dynex Capital, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.


Quarterly
Annual

Total Revenue: Total amount of money received from sales and other business activities


-200.00M-100.00M0.00100.00M200.00M20212022202320242025
24.52M
16.96M
(HRZN) Total Revenue
(DX) Total Revenue
Values in USD except per share items

HRZN vs. DX - Profitability Comparison

The chart below illustrates the profitability comparison between Horizon Technology Finance Corporation and Dynex Capital, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

Gross Margin
Operating Margin
Net Margin
Quarterly
Annual

-40.0%-20.0%0.0%20.0%40.0%60.0%80.0%100.0%20212022202320242025
100.0%
53.3%
(HRZN) Gross Margin
(DX) Gross Margin
HRZN - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on May 2025, Horizon Technology Finance Corporation reported a gross profit of 24.52M and revenue of 24.52M. Therefore, the gross margin over that period was 100.0%.

DX - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on May 2025, Dynex Capital, Inc. reported a gross profit of 9.04M and revenue of 16.96M. Therefore, the gross margin over that period was 53.3%.

HRZN - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on May 2025, Horizon Technology Finance Corporation reported an operating income of 22.96M and revenue of 24.52M, resulting in an operating margin of 93.6%.

DX - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on May 2025, Dynex Capital, Inc. reported an operating income of -11.76M and revenue of 16.96M, resulting in an operating margin of -69.4%.

HRZN - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on May 2025, Horizon Technology Finance Corporation reported a net income of 11.10M and revenue of 24.52M, resulting in a net margin of 45.3%.

DX - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on May 2025, Dynex Capital, Inc. reported a net income of -3.08M and revenue of 16.96M, resulting in a net margin of -18.1%.