Janus Overseas Correlations

JIGCX Fund

USD 48.98 0.24 0.49%

The current 90-days correlation between Janus Overseas and Janus Forty Fund is 0.64 (i.e., Poor diversification). The correlation of Janus Overseas 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 Overseas Correlation With Market

Very weak diversification

The correlation between Janus Overseas Fund and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Janus Overseas Fund 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 Overseas Fund. 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

0.88	JADFX	Janus Flexible Bond	Pair Corr
0.89	JAFLX	Flexible Bond Portfolio	Pair Corr
0.63	JAGLX	Janus Global Life	Pair Corr
0.67	JAHYX	Janus High Yield	Pair Corr
1.0	JAIGX	Overseas Portfolio	Pair Corr
0.87	JANFX	Janus Flexible Bond	Pair Corr

Moving against Janus Mutual Fund

0.51	JRASX	Janus Research	Pair Corr
0.51	JAGRX	Research Portfolio	Pair Corr
0.5	JRAAX	Janus Research	Pair Corr
0.5	JRAIX	Janus Research	Pair Corr
0.5	JRANX	Janus Research	Pair Corr
0.49	JAGCX	Janus Global Technology	Pair Corr
0.48	JAGTX	Janus Global Technology	Pair Corr
0.46	JACCX	Janus Forty Fund	Pair Corr
0.45	JACTX	Janus Forty Fund	Pair Corr
0.45	JACAX	Forty Portfolio Inst	Pair Corr
0.34	JRSCX	Intech Managed Volatility	Pair Corr
0.32	JRSAX	Intech Managed Volatility	Pair Corr
0.32	JRSDX	Intech Managed Volatility	Pair Corr
0.32	JRSIX	Intech Managed Volatility	Pair Corr
0.32	JRSSX	Intech Managed Volatility	Pair Corr
0.32	JRSTX	Intech Managed Volatility	Pair Corr
0.31	JRSNX	Intech Managed Volatility	Pair Corr
0.62	JSVTX	Perkins Select Value	Pair Corr
0.5	JAMRX	Janus Research	Pair Corr
0.48	JATNX	Janus Henderson Global	Pair Corr
0.48	JATSX	Janus Global Technology	Pair Corr
0.48	JATAX	Janus Global Technology	Pair Corr
0.48	JATIX	Janus Global Technology	Pair Corr
0.47	JSCVX	Perkins Small Cap	Pair Corr
0.47	JSCOX	Perkins Small Cap	Pair Corr
0.45	JARTX	Janus Forty Fund	Pair Corr
0.43	JANVX	Janus Venture	Pair Corr

Related Correlations Analysis

	JACCX	THGCX	ABICX	MCDVX	JMVCX
JACCX		-0.52	-0.52	0.12	0.89	JACCX
THGCX	-0.52		0.99	0.71	-0.35	THGCX
ABICX	-0.52	0.99		0.73	-0.37	ABICX
MCDVX	0.12	0.71	0.73		0.33	MCDVX
JMVCX	0.89	-0.35	-0.37	0.33		JMVCX
	JACCX	THGCX	ABICX	MCDVX	JMVCX

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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

ABICX	+ 0.99	THGCX
JMVCX	+ 0.89	JACCX
MCDVX	+ 0.73	ABICX
MCDVX	+ 0.71	THGCX
JMVCX	+ 0.33	MCDVX
MCDVX	+ 0.12	JACCX

High negative correlations

ABICX	- 0.52	JACCX
THGCX	- 0.52	JACCX
JMVCX	- 0.37	ABICX
JMVCX	- 0.35	THGCX

Risk-Adjusted Indicators

There is a big difference between Janus Mutual Fund performing well and Janus Overseas 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 Overseas' 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
JACCX	1.06	(0.07)	0.00	(0.14)	0.00	0.00	1.93	(2.92)	5.77
THGCX	0.63	0.15	0.20	0.24	0.77	(0.66)	1.52	(1.48)	4.37
ABICX	0.69	0.17	0.21	0.21	0.78	(0.74)	1.68	(1.20)	4.17
MCDVX	0.59	0.05	0.09	0.01	0.81	(0.59)	1.15	(1.31)	3.18
JMVCX	0.71	(0.05)	0.00	(0.13)	0.00	0.00	1.14	(1.57)	3.00

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