Janus Henderson Correlations

HFETX Fund

USD 47.51 0.29 0.61%

The current 90-days correlation between Janus Henderson European and Wasatch Emerging India is 0.15 (i.e., Average 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

Modest diversification

The correlation between Janus Henderson European and DJI is 0.23 (i.e., Modest 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 various price indices.

Moving together with Janus Mutual Fund

0.98	VEUSX	Vanguard European Stock	Pair Corr
0.98	VESIX	Vanguard European Stock	Pair Corr
0.98	VEUPX	Vanguard European Stock	Pair Corr
0.98	VEURX	Vanguard European Stock	Pair Corr
0.99	CIUEX	Six Circles International	Pair Corr
0.98	FHJUX	Fidelity Europe	Pair Corr
0.98	FHJTX	Fidelity Europe	Pair Corr

Moving against Janus Mutual Fund

0.63	PQTNX	Pimco Trends Managed	Pair Corr
0.63	PQTIX	Aa Pimco Tr	Pair Corr
0.62	PQTAX	Pimco Trends Managed	Pair Corr

Related Correlations Analysis

	WAINX	ARTYX	HFERX	HFEDX	HFATX
WAINX		0.41	-0.05	-0.04	0.4	WAINX
ARTYX	0.41		0.45	0.45	0.76	ARTYX
HFERX	-0.05	0.45		1.0	0.18	HFERX
HFEDX	-0.04	0.45	1.0		0.18	HFEDX
HFATX	0.4	0.76	0.18	0.18		HFATX
	WAINX	ARTYX	HFERX	HFEDX	HFATX

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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

HFEDX	+ 1.0	HFERX
HFATX	+ 0.76	ARTYX
HFERX	+ 0.45	ARTYX
HFEDX	+ 0.45	ARTYX
ARTYX	+ 0.41	WAINX
HFATX	+ 0.4	WAINX

High negative correlations

HFERX	- 0.05	WAINX
HFEDX	- 0.04	WAINX

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
WAINX	1.10	(0.40)	0.00	(0.70)	0.00	0.00	1.48	(2.22)	18.47
ARTYX	0.80	0.03	(0.02)	0.18	1.05	(0.78)	1.71	(1.63)	4.65
HFERX	0.61	0.02	(0.05)	0.18	0.83	(0.59)	1.24	(1.30)	3.44
HFEDX	0.61	0.02	(0.05)	0.18	0.83	(0.60)	1.22	(1.28)	3.40
HFATX	0.24	0.00	(0.22)	0.03	0.29	(0.30)	0.64	(0.40)	1.95

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