Janus Short-term Correlations

Mutual Funds . USA . 
Fund . Janus Short Term Bond
JSHCX Fund  USD 2.87  0.01  0.35%   
The current 90-days correlation between Janus Short Term and Janus Research Fund is 0.06 (i.e., Significant diversification). The correlation of Janus Short-term 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 Short-term Correlation With Market

Good diversification

The correlation between Janus Short Term Bond and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Janus Short Term Bond 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 Short Term Bond. 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

  0.69JADFX Janus Flexible BondPairCorr
  0.69JAFIX Janus Flexible BondPairCorr
  0.7JAFLX Flexible Bond PortfolioPairCorr
  0.69JANFX Janus Flexible BondPairCorr

Moving against Janus Mutual Fund

  0.41JRAAX Janus ResearchPairCorr
  0.41JAGTX Janus Global TechnologyPairCorr
  0.38JRAIX Janus ResearchPairCorr
  0.38JRANX Janus ResearchPairCorr
  0.38JRARX Janus Henderson ResearchPairCorr
  0.38JRASX Janus ResearchPairCorr
  0.38JRSSX Intech Managed VolatilityPairCorr
  0.38JAGRX Research PortfolioPairCorr
  0.37JRACX Janus ResearchPairCorr
  0.37JRSCX Intech Managed VolatilityPairCorr
  0.37JRSIX Intech Managed VolatilityPairCorr
  0.37JRSTX Intech Managed VolatilityPairCorr
  0.37JAGCX Janus Global TechnologyPairCorr
  0.36JRSAX Intech Managed VolatilityPairCorr
  0.36JRSDX Intech Managed VolatilityPairCorr
  0.36JRSNX Intech Managed VolatilityPairCorr
  0.35JAAGX Enterprise PortfolioPairCorr
  0.35JACTX Janus Forty FundPairCorr
  0.35JACAX Forty Portfolio InstPairCorr
  0.35JAENX Janus EnterprisePairCorr
  0.34JACCX Janus Forty FundPairCorr
  0.33JACNX Janus ContrarianPairCorr
  0.42JANIX Janus TritonPairCorr
  0.42JATTX Janus TritonPairCorr
  0.42JSMGX Janus TritonPairCorr
  0.41JANVX Janus VenturePairCorr
  0.41JAVTX Janus VenturePairCorr
  0.38JAMRX Janus ResearchPairCorr
  0.38JATNX Janus Henderson GlobalPairCorr
  0.38JATAX Janus Global TechnologyPairCorr
  0.38JATIX Janus Global TechnologyPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Janus Mutual Fund performing well and Janus Short-term 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 Short-term'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
JRAAX  0.74  0.15  0.03 (5.05) 1.07 
(0.73)
 1.64 
(2.28)
 4.97 
JRACX  0.73  0.04  0.02  0.15  1.13 
(0.71)
 1.64 
(2.29)
 4.99 
JRAIX  0.73  0.04  0.03  0.15  1.12 
(0.72)
 1.63 
(2.29)
 4.97 
JRANX  0.73  0.04  0.03  0.15  1.12 
(0.72)
 1.64 
(2.29)
 4.98 
JRARX  0.73  0.04  0.02  0.15  1.12 
(0.71)
 1.64 
(2.30)
 4.98 
JRASX  0.73  0.04  0.02  0.15  1.12 
(0.71)
 1.64 
(2.29)
 4.98 
JAAGX  0.59 (0.01)(0.03) 0.09  0.68 
(0.59)
 1.28 
(1.26)
 3.64 
JABAX  0.36  0.00 (0.09) 0.11  0.42 
(0.39)
 0.83 
(0.94)
 2.33 
JABCX  0.36  0.00 (0.10) 0.10  0.42 
(0.38)
 0.84 
(0.94)
 2.32 
JRSAX  0.51  0.01 (0.02) 0.12  0.57 
(0.55)
 1.18 
(1.06)
 3.28 

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