Henderson European Correlations

HFEIX Fund

USD 45.67 0.25 0.55%

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

Weak diversification

The correlation between Henderson European Focus and DJI is 0.36 (i.e., Weak 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 gross domestic product.

Moving together with Henderson Mutual Fund

0.7	JADFX	Janus Flexible Bond	Pair Corr
0.68	JAFIX	Janus Flexible Bond	Pair Corr
0.67	JAFLX	Flexible Bond Portfolio	Pair Corr
0.67	JAGLX	Janus Global Life	Pair Corr
0.75	JAIGX	Overseas Portfolio	Pair Corr
0.67	JSHIX	Janus Short Term	Pair Corr

Moving against Henderson Mutual Fund

0.54	JRAIX	Janus Research	Pair Corr
0.48	JAENX	Janus Enterprise	Pair Corr
0.47	JRSDX	Intech Managed Volatility	Pair Corr
0.47	JRSIX	Intech Managed Volatility	Pair Corr
0.47	JRSNX	Intech Managed Volatility	Pair Corr
0.47	JRSSX	Intech Managed Volatility	Pair Corr
0.47	JRSTX	Intech Managed Volatility	Pair Corr
0.46	JRSAX	Intech Managed Volatility	Pair Corr
0.46	JRSCX	Intech Managed Volatility	Pair Corr
0.44	JRAAX	Janus Research	Pair Corr
0.44	JRANX	Janus Research	Pair Corr
0.44	JRASX	Janus Research	Pair Corr
0.41	JACTX	Janus Forty Fund	Pair Corr
0.41	JABLX	Balanced Portfolio	Pair Corr
0.4	JACCX	Janus Forty Fund	Pair Corr
0.57	JAVTX	Janus Venture	Pair Corr
0.55	JSVAX	Janus Trarian	Pair Corr
0.53	JANIX	Janus Triton	Pair Corr
0.53	JATAX	Janus Global Technology	Pair Corr
0.48	JANEX	Janus Enterprise	Pair Corr
0.45	JSVDX	Perkins Select Value	Pair Corr
0.45	JSVTX	Perkins Select Value	Pair Corr
0.44	JAMRX	Janus Research	Pair Corr
0.43	JAGTX	Janus Global Technology	Pair Corr
0.43	JATIX	Janus Global Technology	Pair Corr
0.4	JARTX	Janus Forty Fund	Pair Corr
0.35	JAWWX	Janus Global Research	Pair Corr
0.33	JBALX	Janus Balanced	Pair Corr

Related Correlations Analysis

	HFOIX	HFQIX	NEZYX	SGOIX	HFEAX
HFOIX		0.0	0.0	0.0	0.0	HFOIX
HFQIX	0.0		0.61	0.85	0.6	HFQIX
NEZYX	0.0	0.61		0.48	0.41	NEZYX
SGOIX	0.0	0.85	0.48		0.79	SGOIX
HFEAX	0.0	0.6	0.41	0.79		HFEAX
	HFOIX	HFQIX	NEZYX	SGOIX	HFEAX

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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

SGOIX	+ 0.85	HFQIX
HFEAX	+ 0.79	SGOIX
NEZYX	+ 0.61	HFQIX
HFEAX	+ 0.6	HFQIX
SGOIX	+ 0.48	NEZYX
HFEAX	+ 0.41	NEZYX

High negative correlations

HFEAX	- 0.0	HFOIX
SGOIX	- 0.0	HFOIX
NEZYX	- 0.0	HFOIX
HFQIX	- 0.0	HFOIX

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
HFOIX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HFQIX	0.49	(0.02)	0.00	0.53	0.00	0.00	0.80	(1.12)	2.70
NEZYX	0.17	0.01	(0.40)	0.26	0.11	(0.21)	0.41	(0.41)	1.14
SGOIX	0.48	(0.08)	0.00	(0.19)	0.00	0.00	1.15	(1.16)	2.97
HFEAX	0.73	(0.20)	0.00	(0.33)	0.00	0.00	1.03	(1.98)	4.46

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