Henderson Strategic Correlations

Mutual Funds . USA . 
Fund . Henderson Strategic Income
HFAIX Fund  USD 7.87  0.02  0.25%   
The current 90-days correlation between Henderson Strategic and Janus Research Fund is 0.02 (i.e., Significant diversification). The correlation of Henderson Strategic 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.

Henderson Strategic Correlation With Market

Significant diversification

The correlation between Henderson Strategic Income and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Henderson Strategic Income 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 Henderson Strategic Income. 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 gross domestic product.

Moving together with Henderson Mutual Fund

  0.88JADFX Janus Flexible BondPairCorr
  0.89JAFIX Janus Flexible BondPairCorr
  0.93JAFLX Flexible Bond PortfolioPairCorr
  0.89JANFX Janus Flexible BondPairCorr

Moving against Henderson Mutual Fund

  0.56JACNX Janus TrarianPairCorr
  0.49JRACX Janus ResearchPairCorr
  0.48JRASX Janus ResearchPairCorr
  0.47JRAIX Janus ResearchPairCorr
  0.45JRAAX Janus ResearchPairCorr
  0.45JRANX Janus ResearchPairCorr
  0.45JRARX Janus Henderson ResearchPairCorr
  0.56JAGTX Janus Global TechnologyPairCorr
  0.55JAGCX Janus Global TechnologyPairCorr
  0.52JACTX Janus Forty FundPairCorr
  0.51JACCX Janus Forty FundPairCorr
  0.33JAGRX Research PortfolioPairCorr
  0.52JARTX Janus Forty FundPairCorr
  0.47JAMRX Janus ResearchPairCorr
  0.46JATNX Janus Henderson GlobalPairCorr
  0.44JANIX Janus TritonPairCorr
  0.32JANVX Janus VenturePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Henderson Mutual Fund performing well and Henderson Strategic 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 Henderson Strategic'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  0.12  0.02  0.80  1.17 
(0.72)
 1.66 
(1.55)
 6.81 
JRACX  0.76  0.04  0.02  0.16  1.30 
(0.74)
 1.69 
(1.57)
 7.53 
JRAIX  0.75  0.06  0.03  0.18  1.13 
(0.74)
 1.70 
(1.56)
 6.74 
JRANX  0.74  0.12  0.02  0.82  1.18 
(0.73)
 1.66 
(1.55)
 6.75 
JRARX  0.74  0.12  0.02  0.77  1.21 
(0.72)
 1.65 
(1.56)
 6.93 
JRASX  0.75  0.05  0.02  0.18  1.16 
(0.74)
 1.69 
(1.55)
 6.98 
JAAGX  0.55  0.02  0.00  0.14  0.50 
(0.58)
 1.28 
(1.04)
 3.64 
JABAX  0.42 (0.06)(0.10) 0.00  1.05 
(0.39)
 0.83 
(0.77)
 6.49 
JABCX  0.41 (0.06)(0.11) 0.00  1.05 
(0.38)
 0.84 
(0.76)
 6.33 
JRSAX  0.51  0.00 (0.03) 0.11  0.75 
(0.53)
 1.18 
(1.01)
 5.59 

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