Janus Henderson Correlations

JDHCX Fund

USD 7.33 0.01 0.14%

The current 90-days correlation between Janus Henderson High and Janus Flexible Bond is 0.56 (i.e., Very weak diversification). The correlation of Janus Henderson 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.

Janus Henderson Correlation With Market

Weak diversification

The correlation between Janus Henderson High Yield and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Janus Henderson High Yield 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 Janus Henderson High Yield. 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 main economic indicators.

Moving together with Janus Mutual Fund

0.74	JAAGX	Enterprise Portfolio	Pair Corr
0.61	JRSAX	Intech Managed Volatility	Pair Corr
0.63	JRSDX	Intech Managed Volatility	Pair Corr
0.63	JRSCX	Intech Managed Volatility	Pair Corr
0.62	JRSNX	Intech Managed Volatility	Pair Corr
0.63	JRSSX	Intech Managed Volatility	Pair Corr
0.63	JRSTX	Intech Managed Volatility	Pair Corr
0.79	JABLX	Balanced Portfolio	Pair Corr
0.61	JACAX	Forty Portfolio Inst	Pair Corr
0.99	JAHYX	Janus High Yield	Pair Corr

Related Correlations Analysis

	JDHCX	JADFX	JRSSX	JCNIX	JDFAX
JDHCX		0.25	0.63	0.13	0.28	JDHCX
JADFX	0.25		-0.37	0.02	1.0	JADFX
JRSSX	0.63	-0.37		0.34	-0.36	JRSSX
JCNIX	0.13	0.02	0.34		0.01	JCNIX
JDFAX	0.28	1.0	-0.36	0.01		JDFAX
	JDHCX	JADFX	JRSSX	JCNIX	JDFAX

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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

JDFAX	+ 1.0	JADFX
JRSSX	+ 0.63	JDHCX
JCNIX	+ 0.34	JRSSX
JDFAX	+ 0.28	JDHCX
JADFX	+ 0.25	JDHCX
JCNIX	+ 0.13	JDHCX

High negative correlations

JRSSX	- 0.37	JADFX
JDFAX	- 0.36	JRSSX

Risk-Adjusted Indicators

There is a big difference between Janus Mutual Fund performing well and Janus Henderson 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 Janus Henderson'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
JDHCX	0.13	(0.02)	0.00	(0.24)	0.00	0.00	0.27	(0.27)	0.95
JADFX	0.23	(0.07)	0.00	(2.07)	0.00	0.00	0.32	(0.74)	1.62
JRSSX	0.54	0.00	(0.01)	0.02	0.91	(0.53)	0.84	(1.14)	4.95
JCNIX	0.92	(0.17)	0.00	(0.12)	0.00	0.00	1.48	(1.91)	13.05
JDFAX	0.24	(0.07)	0.00	(1.85)	0.00	0.00	0.33	(0.64)	1.73

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