Johnson Institutional Correlations

JIBEX Fund

USD 14.48 0.01 0.07%

The current 90-days correlation between Johnson Institutional and Barings Emerging Markets is -0.01 (i.e., Good diversification). The correlation of Johnson Institutional 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.

Johnson Institutional Correlation With Market

Modest diversification

The correlation between Johnson Institutional Intermed and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Johnson Institutional Intermed 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 Johnson Institutional Intermediate. 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 income.

Moving together with Johnson Mutual Fund

0.94	JCPLX	Johnson Core Plus	Pair Corr
0.63	JENHX	Johnson Enhanced Return	Pair Corr
0.61	JEQIX	Johnson Equity Income	Pair Corr
0.61	JEQSX	Johnson Equity Income	Pair Corr
0.95	JIBSX	Johnson Mutual Funds	Pair Corr
0.95	JIBFX	Johnson Institutional	Pair Corr
1.0	JIMEX	Johnson Institutional	Pair Corr
0.95	JIMFX	Johnson Institutional	Pair Corr
0.8	JMUNX	Johnson Municipal Income	Pair Corr
0.62	JOPPX	Johnson Opportunity	Pair Corr
0.62	JOSSX	Johnson Opportunity	Pair Corr
0.86	VBTLX	Vanguard Total Bond	Pair Corr
0.86	VBMFX	Vanguard Total Bond	Pair Corr
0.96	VBTIX	Vanguard Total Bond	Pair Corr
0.96	VTBSX	Vanguard Total Bond	Pair Corr
0.95	VTBIX	Vanguard Total Bond	Pair Corr
0.86	VTBNX	Vanguard Total Bond	Pair Corr
0.96	BFAFX	Bond Fund	Pair Corr
0.96	ABNDX	Bond Fund	Pair Corr
0.85	BFACX	Bond Fund	Pair Corr
0.96	FFBOX	American Funds	Pair Corr
0.63	VISPX	Voya Index Solution	Pair Corr

Moving against Johnson Mutual Fund

0.52

UIPIX

Ultrashort Mid Cap

Pair Corr

Related Correlations Analysis

	BXECX	RYWWX	CDHIX	HMXAX	LIGFX	FEMDX
BXECX		-0.55	0.83	0.24	0.57	0.34	BXECX
RYWWX	-0.55		-0.82	0.1	-0.12	0.25	RYWWX
CDHIX	0.83	-0.82		0.12	0.4	0.1	CDHIX
HMXAX	0.24	0.1	0.12		0.85	0.72	HMXAX
LIGFX	0.57	-0.12	0.4	0.85		0.69	LIGFX
FEMDX	0.34	0.25	0.1	0.72	0.69		FEMDX
	BXECX	RYWWX	CDHIX	HMXAX	LIGFX	FEMDX

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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

LIGFX	+ 0.85	HMXAX
CDHIX	+ 0.83	BXECX
FEMDX	+ 0.72	HMXAX
FEMDX	+ 0.69	LIGFX
LIGFX	+ 0.57	BXECX
LIGFX	+ 0.4	CDHIX

High negative correlations

CDHIX	- 0.82	RYWWX
RYWWX	- 0.55	BXECX
LIGFX	- 0.12	RYWWX

Risk-Adjusted Indicators

There is a big difference between Johnson Mutual Fund performing well and Johnson Institutional 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 Johnson Institutional'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
BXECX	0.21	(0.03)	0.00	(1.01)	0.00	0.00	0.54	(0.40)	1.46
RYWWX	1.54	0.15	0.04	(0.16)	1.90	(1.72)	4.24	(3.69)	10.16
CDHIX	0.57	(0.04)	0.00	(0.50)	0.00	0.00	1.20	(1.11)	3.77
HMXAX	0.46	0.03	0.00	0.14	0.67	(0.44)	0.90	(0.89)	4.29
LIGFX	0.29	0.00	(0.07)	0.04	0.39	(0.29)	0.62	(0.50)	2.04
FEMDX	0.17	0.01	(0.11)	0.22	0.11	(0.23)	0.35	(0.35)	1.29

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