Johnson Equity Correlations

Mutual Funds . USA . 
Fund . Johnson Equity Income
JEQIX Fund  USD 39.51  0.05  0.13%   
The current 90-days correlation between Johnson Equity Income and Maryland Short Term Tax Free is -0.1 (i.e., Good diversification). The correlation of Johnson Equity 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.

Johnson Equity Correlation With Market

Very poor diversification

The correlation between Johnson Equity Income and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Johnson Equity 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 Johnson Equity 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 Johnson Mutual Fund

  0.66JCPLX Johnson Core PlusPairCorr
  0.73JENHX Johnson Enhanced ReturnPairCorr
  1.0JEQSX Johnson Equity IncomePairCorr
  0.87JIBDX Johnson InstitutionalPairCorr
  0.69JIBEX Johnson InstitutionalPairCorr
  0.66JIMEX Johnson InstitutionalPairCorr
  0.87JIMDX Johnson InstitutionalPairCorr
  0.85JMUNX Johnson Municipal IncomePairCorr
  0.99JOPPX Johnson OpportunityPairCorr
  0.99JOSSX Johnson OpportunityPairCorr
  0.77VTSAX Vanguard Total StockPairCorr
  0.77VFIAX Vanguard 500 IndexPairCorr
  0.8VTSMX Vanguard Total StockPairCorr
  0.8VITSX Vanguard Total StockPairCorr
  0.8VSMPX Vanguard Total StockPairCorr
  0.77VSTSX Vanguard Total StockPairCorr
  0.77VFINX Vanguard 500 IndexPairCorr
  0.73VFFSX Vanguard 500 IndexPairCorr
  0.77VINIX Vanguard InstitutionalPairCorr
  0.77VIIIX Vanguard InstitutionalPairCorr
  0.66RYMEX Commodities Strategy Steady GrowthPairCorr
  0.68RYMJX Commodities Strategy Steady GrowthPairCorr
  0.69RYMBX Commodities Strategy Steady GrowthPairCorr
  0.95BRUFX Bruce Fund BrucePairCorr
  0.94SPGSX State Street PremierPairCorr
  0.91KF Korea ClosedPairCorr
  0.94FSRKX Fidelity Strategic RealPairCorr
  0.9OBIOX Oberweis InternationalPairCorr
  0.94TISVX Transamerica InternationalPairCorr
  0.91OGLVX Jpmorgan Short DurationPairCorr
  0.8PDI Pimco Dynamic IncomePairCorr
  0.94FEBAX First Eagle GlobalPairCorr
  0.96PAAIX All Asset FundPairCorr
  0.94PLFGX Putnam RetirementPairCorr
  0.76DODIX Dodge IncomePairCorr
  0.92OTCFX T Rowe PricePairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Johnson Mutual Fund performing well and Johnson Equity 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 Johnson Equity'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.

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