Janus Henderson Correlations

JSMD Etf

USD 72.13 1.92 2.73%

The current 90-days correlation between Janus Henderson SmallMid and Janus Henderson Small is 0.01 (i.e., Significant diversification). The correlation of Janus Henderson 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.

Janus Henderson Correlation With Market

Very weak diversification

The correlation between Janus Henderson SmallMid and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Janus Henderson SmallMid 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 Henderson SmallMid. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Janus Etf

0.84	VBK	Vanguard Small Cap	Pair Corr
0.82	IWO	iShares Russell 2000	Pair Corr
0.87	IJT	iShares SP Small	Pair Corr
0.88	SLYG	SPDR SP 600	Pair Corr
0.7	PBW	Invesco WilderHill Clean	Pair Corr
0.76	JKK	iShares Morningstar	Pair Corr
0.88	VTWG	Vanguard Russell 2000	Pair Corr
0.94	VRTGX	Vanguard Russell 2000	Pair Corr
0.87	VIOG	Vanguard SP Small	Pair Corr
0.88	ISCG	iShares Morningstar	Pair Corr
0.78	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.68	USD	ProShares Ultra Semi	Pair Corr
0.74	TECL	Direxion Daily Technology	Pair Corr
0.7	ROM	ProShares Ultra Tech	Pair Corr
0.79	QLD	ProShares Ultra QQQ	Pair Corr
0.76	SMH	VanEck Semiconductor ETF	Pair Corr
0.83	SPXL	Direxion Daily SP500	Pair Corr
0.75	SOXX	iShares Semiconductor ETF	Pair Corr
0.83	UPRO	ProShares UltraPro SP500	Pair Corr
0.65	DIS	Walt Disney	Pair Corr
0.69	JPM	JPMorgan Chase	Pair Corr
0.89	AXP	American Express	Pair Corr
0.84	HD	Home Depot	Pair Corr
0.69	HPQ	HP Inc	Pair Corr
0.62	MSFT	Microsoft Aggressive Push	Pair Corr
0.64	BA	Boeing	Pair Corr

Moving against Janus Etf

0.36	GDXU	MicroSectors Gold Miners	Pair Corr
0.72	VZ	Verizon Communications	Pair Corr
0.65	TRV	The Travelers Companies	Pair Corr
0.59	MCD	McDonalds	Pair Corr
0.51	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	JSML	FNY	FAD	LRGE	FNK
JSML		0.89	0.88	0.83	0.89	JSML
FNY	0.89		1.0	0.97	0.95	FNY
FAD	0.88	1.0		0.97	0.93	FAD
LRGE	0.83	0.97	0.97		0.9	LRGE
FNK	0.89	0.95	0.93	0.9		FNK
	JSML	FNY	FAD	LRGE	FNK

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Janus Henderson Constituents Risk-Adjusted Indicators

There is a big difference between Janus Etf performing well and Janus Henderson ETF 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 Henderson'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
JSML	0.93	(0.17)	(6.69)	1.57	(1.86)	5.28
FNY	1.14	(0.10)	(0.12)	1.85	(3.32)	5.79
FAD	1.09	(0.08)	(0.11)	1.81	(3.22)	5.20
LRGE	0.92	(0.07)	(0.12)	1.50	(2.22)	5.23
FNK	0.85	(0.07)	(0.12)	1.48	(1.72)	4.02

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