Flexible Bond Correlations

JAFLX Fund

USD 10.13 0.03 0.30%

The current 90-days correlation between Flexible Bond Portfolio and Maryland Tax Free Bond is 0.57 (i.e., Very weak diversification). The correlation of Flexible Bond 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.

Flexible Bond Correlation With Market

Good diversification

The correlation between Flexible Bond Portfolio and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Flexible Bond Portfolio 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 Flexible Bond Portfolio. 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 bureau of economic analysis.

Moving together with Flexible Mutual Fund

1.0	JADFX	Janus Flexible Bond	Pair Corr
1.0	JAFIX	Janus Flexible Bond	Pair Corr
0.71	JAGLX	Janus Global Life	Pair Corr

Moving against Flexible Mutual Fund

0.76	JRAAX	Janus Research	Pair Corr
0.76	JRAIX	Janus Research	Pair Corr
0.76	JRANX	Janus Research	Pair Corr
0.76	JRASX	Janus Research	Pair Corr
0.72	JACTX	Janus Forty Fund	Pair Corr
0.72	JACCX	Janus Forty Fund	Pair Corr
0.71	JRSDX	Intech Managed Volatility	Pair Corr
0.71	JRSIX	Intech Managed Volatility	Pair Corr
0.71	JRSNX	Intech Managed Volatility	Pair Corr
0.71	JRSSX	Intech Managed Volatility	Pair Corr
0.7	JRSAX	Intech Managed Volatility	Pair Corr
0.7	JRSCX	Intech Managed Volatility	Pair Corr
0.7	JRSTX	Intech Managed Volatility	Pair Corr
0.63	JAENX	Janus Enterprise	Pair Corr
0.59	JADGX	Janus Growth And	Pair Corr
0.53	JABAX	Janus Balanced	Pair Corr
0.53	JABLX	Balanced Portfolio	Pair Corr
0.52	JABRX	Janus Balanced	Pair Corr
0.5	JABCX	Janus Balanced	Pair Corr
0.76	JAMRX	Janus Research	Pair Corr
0.75	JAGTX	Janus Global Technology	Pair Corr
0.75	JATAX	Janus Global Technology	Pair Corr
0.75	JATIX	Janus Global Technology	Pair Corr
0.72	JARTX	Janus Forty Fund	Pair Corr
0.71	JAWWX	Janus Global Research	Pair Corr
0.7	JANIX	Janus Triton	Pair Corr
0.7	JSVAX	Janus Trarian	Pair Corr
0.7	JCNAX	Janus Contrarian	Pair Corr
0.63	JANEX	Janus Enterprise	Pair Corr
0.63	JAVTX	Janus Venture	Pair Corr
0.59	JAGIX	Janus Growth And	Pair Corr
0.57	JSVDX	Perkins Select Value	Pair Corr
0.56	JSVTX	Perkins Select Value	Pair Corr
0.53	JBALX	Janus Balanced	Pair Corr
0.45	JANRX	Janus Global Select	Pair Corr

Related Correlations Analysis

	TFBIX	BBINX	MFIRX	RUSIX	MDMTX	CCD	IOBZX
TFBIX		0.85	0.7	-0.02	0.73	0.31	0.3	TFBIX
BBINX	0.85		0.65	-0.2	0.87	0.36	0.19	BBINX
MFIRX	0.7	0.65		0.24	0.36	0.57	0.68	MFIRX
RUSIX	-0.02	-0.2	0.24		-0.54	0.43	0.78	RUSIX
MDMTX	0.73	0.87	0.36	-0.54		-0.05	-0.24	MDMTX
CCD	0.31	0.36	0.57	0.43	-0.05		0.76	CCD
IOBZX	0.3	0.19	0.68	0.78	-0.24	0.76		IOBZX
	TFBIX	BBINX	MFIRX	RUSIX	MDMTX	CCD	IOBZX

Click cells to compare fundamentals

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

MDMTX	+ 0.87	BBINX
BBINX	+ 0.85	TFBIX
IOBZX	+ 0.78	RUSIX
IOBZX	+ 0.76	CCD
MDMTX	+ 0.73	TFBIX
MFIRX	+ 0.7	TFBIX

High negative correlations

MDMTX	- 0.54	RUSIX
IOBZX	- 0.24	MDMTX
RUSIX	- 0.2	BBINX
CCD	- 0.05	MDMTX
RUSIX	- 0.02	TFBIX

Risk-Adjusted Indicators

There is a big difference between Flexible Mutual Fund performing well and Flexible Bond 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 Flexible Bond'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TFBIX	0.16	0.02	(0.29)	(0.07)	0.20	(0.23)	0.40	(0.39)	1.58
BBINX	0.11	(0.01)	(0.43)	(0.13)	0.15	(0.19)	0.29	(0.29)	1.07
MFIRX	0.09	0.00	(0.51)	0.13	0.00	(0.24)	0.19	(0.19)	0.76
RUSIX	0.04	0.01	0.00	(1.06)	0.00	0.00	0.10	0.00	0.50
MDMTX	0.16	(0.01)	(0.33)	(0.23)	0.25	(0.23)	0.38	(0.56)	1.33
CCD	0.75	(0.03)	(0.10)	0.06	0.92	(0.83)	1.88	(1.68)	4.88
IOBZX	0.09	0.01	(0.65)	0.58	0.00	(0.14)	0.23	(0.23)	0.46

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