Janus Global Correlations
| JNGTX Fund | USD 59.96 0.25 0.42% |
The current 90-days correlation between Janus Global Technology and Dreyfus Technology Growth is -0.19 (i.e., Good diversification). The correlation of Janus Global 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 Global Correlation With Market
Good diversification
The correlation between Janus Global Technology and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Janus Global Technology and DJI in the same portfolio, assuming nothing else is changed.
Janus |
Moving together with Janus Mutual Fund
| 0.69 | VEEA | Veea Inc Symbol Change | PairCorr |
| 0.78 | VISL | Vislink Technologies Earnings Call This Week | PairCorr |
| 0.67 | INGM | Ingram Micro Holding | PairCorr |
| 0.63 | MIND | Mind Technology | PairCorr |
| 0.88 | HPE-PC | Hewlett Packard Ente | PairCorr |
| 0.68 | VEEAW | Veea Inc Symbol Change | PairCorr |
| 0.74 | NOVA | Sunnova Energy Inter | PairCorr |
| 0.62 | NXXT | NextNRG Symbol Change | PairCorr |
| 0.73 | CORZZ | Core Scientific, Tranche | PairCorr |
| 0.74 | SLNHP | Soluna Holdings Preferred | PairCorr |
| 0.71 | PENG | Penguin Solutions, Symbol Change | PairCorr |
Moving against Janus Mutual Fund
| 0.58 | EMKR | EMCORE | PairCorr |
| 0.36 | HCP | Hashicorp | PairCorr |
| 0.69 | MTTR | Matterport | PairCorr |
| 0.66 | NTCL | NETCLASS TECHNOLOGY INC | PairCorr |
| 0.65 | INFN | Infinera | PairCorr |
| 0.46 | HPAIW | Helport AI Limited | PairCorr |
| 0.36 | LGTY | Logility Supply Chain Symbol Change | PairCorr |
Related Correlations Analysis
| 0.98 | -0.02 | 0.89 | 0.97 | 0.93 | DTEYX | ||
| 0.98 | 0.06 | 0.87 | 0.95 | 0.93 | HTECX | ||
| -0.02 | 0.06 | -0.1 | -0.17 | 0.0 | SBHIX | ||
| 0.89 | 0.87 | -0.1 | 0.88 | 0.89 | NWHOX | ||
| 0.97 | 0.95 | -0.17 | 0.88 | 0.9 | JGLTX | ||
| 0.93 | 0.93 | 0.0 | 0.89 | 0.9 | WFTIX | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Janus Mutual Fund performing well and Janus Global 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 Global'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| DTEYX | 1.40 | (0.11) | 0.00 | (0.08) | 0.00 | 2.50 | 7.35 | |||
| HTECX | 1.14 | (0.10) | 0.00 | (0.09) | 0.00 | 1.67 | 5.92 | |||
| SBHIX | 0.64 | 0.01 | 0.01 | 0.02 | 0.76 | 1.20 | 3.37 | |||
| NWHOX | 1.53 | (0.30) | 0.00 | (0.32) | 0.00 | 2.34 | 13.39 | |||
| JGLTX | 1.20 | (0.11) | 0.00 | (0.09) | 0.00 | 1.98 | 6.39 | |||
| WFTIX | 0.93 | (0.10) | 0.00 | 0.56 | 0.00 | 1.80 | 4.88 |