Janus Henderson Correlations

HFETX Fund

USD 45.54 0.25 0.55%

The current 90-days correlation between Janus Henderson European and Invesco European Small is 0.83 (i.e., Very poor 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Janus Henderson Correlation With Market

Weak diversification

The correlation between Janus Henderson European and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Janus Henderson European 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 European. 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 estimate.

Moving together with Janus Mutual Fund

0.74	JADFX	Janus Flexible Bond	Pair Corr
0.72	JAFIX	Janus Flexible Bond	Pair Corr
0.72	JAFLX	Flexible Bond Portfolio	Pair Corr
0.83	JAGLX	Janus Global Life	Pair Corr
0.94	JAIGX	Overseas Portfolio	Pair Corr

Moving against Janus Mutual Fund

0.62	JRSDX	Intech Managed Volatility	Pair Corr
0.62	JRSIX	Intech Managed Volatility	Pair Corr
0.62	JRSNX	Intech Managed Volatility	Pair Corr
0.62	JRSSX	Intech Managed Volatility	Pair Corr
0.62	JRSTX	Intech Managed Volatility	Pair Corr
0.61	JRSAX	Intech Managed Volatility	Pair Corr
0.61	JRSCX	Intech Managed Volatility	Pair Corr
0.59	JRANX	Janus Research	Pair Corr
0.59	JAENX	Janus Enterprise	Pair Corr
0.58	JRAAX	Janus Research	Pair Corr
0.58	JRAIX	Janus Research	Pair Corr
0.58	JRASX	Janus Research	Pair Corr
0.57	JACTX	Janus Forty Fund	Pair Corr
0.57	JACCX	Janus Forty Fund	Pair Corr
0.46	JABLX	Balanced Portfolio	Pair Corr
0.45	JABAX	Janus Balanced	Pair Corr
0.45	JABRX	Janus Balanced	Pair Corr
0.44	JADGX	Janus Growth And	Pair Corr
0.43	JABCX	Janus Balanced	Pair Corr
0.63	JANIX	Janus Triton	Pair Corr
0.62	JAVTX	Janus Venture	Pair Corr
0.59	JANEX	Janus Enterprise	Pair Corr
0.59	JSVAX	Janus Trarian	Pair Corr
0.58	JAMRX	Janus Research	Pair Corr
0.57	JARTX	Janus Forty Fund	Pair Corr
0.53	JAGTX	Janus Global Technology	Pair Corr
0.53	JATAX	Janus Global Technology	Pair Corr
0.53	JATIX	Janus Global Technology	Pair Corr
0.53	JSVDX	Perkins Select Value	Pair Corr
0.53	JSVTX	Perkins Select Value	Pair Corr
0.47	JBALX	Janus Balanced	Pair Corr
0.46	JAWWX	Janus Global Research	Pair Corr
0.45	JAGIX	Janus Growth And	Pair Corr
0.32	JAHYX	Janus High Yield	Pair Corr

Related Correlations Analysis

	ESMAX	HFECX	AEDAX	AQUI	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3
ESMAX		0.98	0.98	0.0	-0.01	-0.34	-0.78	-0.02	-0.75	-0.65	ESMAX
HFECX	0.98		0.98	0.0	-0.02	-0.36	-0.78	-0.05	-0.73	-0.65	HFECX
AEDAX	0.98	0.98		0.0	-0.13	-0.43	-0.76	-0.12	-0.75	-0.68	AEDAX
AQUI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AQUI
MSTSX	-0.01	-0.02	-0.13	0.0		0.68	-0.05	0.81	0.04	0.12	MSTSX
LBHIX	-0.34	-0.36	-0.43	0.0	0.68		0.26	0.72	0.33	0.09	LBHIX
VIASP	-0.78	-0.78	-0.76	0.0	-0.05	0.26		0.07	0.81	0.56	VIASP
RRTLX	-0.02	-0.05	-0.12	0.0	0.81	0.72	0.07		0.14	0.04	RRTLX
OSHDF	-0.75	-0.73	-0.75	0.0	0.04	0.33	0.81	0.14		0.41	OSHDF
70082LAB3	-0.65	-0.65	-0.68	0.0	0.12	0.09	0.56	0.04	0.41		70082LAB3
	ESMAX	HFECX	AEDAX	AQUI	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3

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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

HFECX	+ 0.98	ESMAX
AEDAX	+ 0.98	ESMAX
AEDAX	+ 0.98	HFECX
RRTLX	+ 0.81	MSTSX
OSHDF	+ 0.81	VIASP
RRTLX	+ 0.72	LBHIX

High negative correlations

VIASP	- 0.78	HFECX
VIASP	- 0.78	ESMAX
VIASP	- 0.76	AEDAX
OSHDF	- 0.75	AEDAX
OSHDF	- 0.75	ESMAX
OSHDF	- 0.73	HFECX

Risk-Adjusted Indicators

There is a big difference between Janus Mutual Fund performing well and Janus Henderson 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 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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ESMAX	0.56	(0.14)	0.00	(0.29)	0.00	0.00	1.54	(1.36)	3.31
HFECX	0.72	(0.18)	0.00	(0.28)	0.00	0.00	1.00	(1.99)	4.44
AEDAX	0.64	(0.21)	0.00	(0.33)	0.00	0.00	1.15	(1.41)	4.05
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MSTSX	0.49	(0.04)	(0.13)	0.05	0.51	(0.62)	1.21	(1.02)	2.80
LBHIX	0.12	0.01	(0.39)	0.51	0.00	(0.28)	0.24	(0.24)	0.96
VIASP	0.75	0.08	(0.03)	(1.87)	1.12	(0.82)	2.28	(1.20)	7.18
RRTLX	0.23	0.01	(0.29)	0.46	0.25	(0.25)	0.48	(0.56)	1.36
OSHDF	39.65	22.52	0.00	(0.97)	0.00	0.00	0.00	0.00	1,329
70082LAB3	1.00	0.06	(0.04)	(0.11)	2.21	(1.10)	1.75	(1.69)	24.27

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