Henderson European Correlations

HFEAX Fund

USD 45.31 0.31 0.68%

The current 90-days correlation between Henderson European Focus and Henderson International Opportunities is -0.12 (i.e., Good diversification). The correlation of Henderson European 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 European Correlation With Market

Good diversification

The correlation between Henderson European Focus and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Henderson European Focus 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 European Focus. 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 nation.

Moving together with Henderson Mutual Fund

0.71	JADFX	Janus Flexible Bond	Pair Corr
0.7	JAFIX	Janus Flexible Bond	Pair Corr
0.71	JAFLX	Flexible Bond Portfolio	Pair Corr
0.81	JAGLX	Janus Global Life	Pair Corr
0.88	JAIGX	Overseas Portfolio	Pair Corr
0.7	JANFX	Janus Flexible Bond	Pair Corr

Moving against Henderson Mutual Fund

0.59	JRSAX	Intech Managed Volatility	Pair Corr
0.59	JRSDX	Intech Managed Volatility	Pair Corr
0.59	JRSTX	Intech Managed Volatility	Pair Corr
0.58	JRARX	Janus Henderson Research	Pair Corr
0.58	JRASX	Janus Research	Pair Corr
0.58	JRSCX	Intech Managed Volatility	Pair Corr
0.57	JRSNX	Intech Managed Volatility	Pair Corr
0.57	JACNX	Janus Contrarian	Pair Corr
0.56	JRSIX	Intech Managed Volatility	Pair Corr
0.56	JRSSX	Intech Managed Volatility	Pair Corr
0.55	JRAAX	Janus Research	Pair Corr
0.55	JRAIX	Janus Research	Pair Corr
0.55	JRANX	Janus Research	Pair Corr
0.54	JRACX	Janus Research	Pair Corr
0.54	JAAGX	Enterprise Portfolio	Pair Corr
0.45	JABAX	Janus Balanced	Pair Corr
0.42	JABCX	Janus Balanced	Pair Corr
0.58	JACTX	Janus Forty Fund	Pair Corr
0.58	JACCX	Janus Forty Fund	Pair Corr
0.58	JAGRX	Research Portfolio	Pair Corr
0.55	JACAX	Forty Portfolio Inst	Pair Corr
0.54	JAENX	Janus Enterprise	Pair Corr
0.53	JAGTX	Janus Global Technology	Pair Corr
0.52	JAGCX	Janus Global Technology	Pair Corr
0.45	JABLX	Balanced Portfolio	Pair Corr
0.45	JABNX	Janus Balanced	Pair Corr
0.43	JAGIX	Janus Growth And	Pair Corr
0.42	JADGX	Janus Growth And	Pair Corr
0.39	JABRX	Janus Balanced	Pair Corr
0.32	JAHYX	Janus High Yield	Pair Corr
0.58	JARTX	Janus Forty Fund	Pair Corr
0.55	JANEX	Janus Enterprise	Pair Corr
0.55	JANIX	Janus Triton	Pair Corr
0.55	JAMRX	Janus Research	Pair Corr
0.55	JAMVX	Janus Aspen Perkins	Pair Corr
0.52	JANVX	Janus Venture	Pair Corr

Related Correlations Analysis

	HFOAX	ESMAX	HFECX	AEDAX	VEUAX
HFOAX		-0.47	-0.46	-0.48	-0.35	HFOAX
ESMAX	-0.47		0.92	0.93	0.87	ESMAX
HFECX	-0.46	0.92		0.98	0.94	HFECX
AEDAX	-0.48	0.93	0.98		0.95	AEDAX
VEUAX	-0.35	0.87	0.94	0.95		VEUAX
	HFOAX	ESMAX	HFECX	AEDAX	VEUAX

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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

AEDAX	+ 0.98	HFECX
VEUAX	+ 0.95	AEDAX
VEUAX	+ 0.94	HFECX
AEDAX	+ 0.93	ESMAX
HFECX	+ 0.92	ESMAX
VEUAX	+ 0.87	ESMAX

High negative correlations

AEDAX	- 0.48	HFOAX
ESMAX	- 0.47	HFOAX
HFECX	- 0.46	HFOAX
VEUAX	- 0.35	HFOAX

Risk-Adjusted Indicators

There is a big difference between Henderson Mutual Fund performing well and Henderson European 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 European'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
HFOAX	0.52	0.13	(0.01)	(1.03)	0.40	(0.63)	1.24	(1.09)	2.97
ESMAX	0.56	(0.11)	0.00	1.32	0.00	0.00	1.41	(1.36)	3.31
HFECX	0.72	(0.18)	0.00	(0.24)	0.00	0.00	1.27	(1.99)	4.44
AEDAX	0.65	(0.21)	0.00	(0.29)	0.00	0.00	1.32	(1.41)	4.05
VEUAX	0.64	(0.15)	0.00	(0.20)	0.00	0.00	1.35	(1.36)	4.34

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