Janus Short-term Correlations

JSHNX Fund

USD 2.87 0.01 0.35%

The current 90-days correlation between Janus Short Term and Janus Flexible Bond is 0.62 (i.e., Poor 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 -0.04 (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 board of governors.

Moving together with Janus Mutual Fund

0.73	JAHYX	Janus High Yield	Pair Corr
0.77	JAIGX	Overseas Portfolio	Pair Corr

Moving against Janus Mutual Fund

0.33	JRACX	Janus Research	Pair Corr
0.32	JACNX	Janus Contrarian	Pair Corr
0.48	JAGCX	Janus Global Technology	Pair Corr
0.46	JACCX	Janus Forty Fund	Pair Corr
0.45	JAGTX	Janus Global Technology	Pair Corr
0.42	JACTX	Janus Forty Fund	Pair Corr
0.45	JATNX	Janus Henderson Global	Pair Corr
0.43	JSCOX	Perkins Small Cap	Pair Corr
0.43	JARTX	Janus Forty Fund	Pair Corr
0.42	JANIX	Janus Triton	Pair Corr
0.39	JANVX	Janus Venture	Pair Corr
0.36	JSCVX	Perkins Small Cap	Pair Corr

Related Correlations Analysis

	JDFNX	URSBX	PLDIX	TBSIX	SRBRX
JDFNX		0.57	0.44	0.56	0.77	JDFNX
URSBX	0.57		0.98	0.99	0.95	URSBX
PLDIX	0.44	0.98		0.97	0.9	PLDIX
TBSIX	0.56	0.99	0.97		0.94	TBSIX
SRBRX	0.77	0.95	0.9	0.94		SRBRX
	JDFNX	URSBX	PLDIX	TBSIX	SRBRX

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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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
JDFNX	0.26	0.03	0.16	0.36	0.18	(0.35)	0.66	(0.43)	1.75
URSBX	0.09	0.02	0.32	1.26	0.00	(0.17)	0.22	(0.11)	0.78
PLDIX	0.08	0.02	0.30	0.83	0.00	(0.16)	0.33	(0.11)	0.66
TBSIX	0.09	0.02	0.18	0.68	0.00	(0.27)	0.22	(0.22)	0.88
SRBRX	0.11	0.02	0.25	0.46	0.00	(0.16)	0.30	(0.20)	0.70

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