Johnson Equity Correlations

JEQIX Fund

USD 39.91 0.02 0.05%

The current 90-days correlation between Johnson Equity Income and Dreyfus Technology Growth is 0.25 (i.e., Modest 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

0.63	JCPLX	Johnson Core Plus	Pair Corr
0.66	JENHX	Johnson Enhanced Return	Pair Corr
1.0	JEQSX	Johnson Equity Income	Pair Corr
0.87	JIBDX	Johnson Institutional	Pair Corr
0.62	JIBEX	Johnson Institutional	Pair Corr
0.87	JIMDX	Johnson Institutional	Pair Corr
0.8	JMUNX	Johnson Municipal Income	Pair Corr
0.99	JOPPX	Johnson Opportunity	Pair Corr
0.99	JOSSX	Johnson Opportunity	Pair Corr
0.74	VTSAX	Vanguard Total Stock	Pair Corr
0.69	VFIAX	Vanguard 500 Index	Pair Corr
0.73	VTSMX	Vanguard Total Stock	Pair Corr
0.74	VITSX	Vanguard Total Stock	Pair Corr
0.74	VSMPX	Vanguard Total Stock	Pair Corr
0.74	VSTSX	Vanguard Total Stock	Pair Corr
0.69	VFINX	Vanguard 500 Index	Pair Corr
0.69	VFFSX	Vanguard 500 Index	Pair Corr
0.69	VINIX	Vanguard Institutional	Pair Corr
0.69	VIIIX	Vanguard Institutional	Pair Corr
0.88	NHS	Neuberger Berman High	Pair Corr
0.71	VAFRX	Invesco American Fra	Pair Corr
0.83	TOLSX	Deutsche Global Infr	Pair Corr
0.89	OEMCX	Ophmr Eml Dbt	Pair Corr
0.92	FWCGX	American Funds Capital	Pair Corr
0.86	TBGVX	Tweedy Browne Global	Pair Corr
0.8	SNOIX	Snow Capital Opportunity	Pair Corr
0.92	MGIBX	Mfs International Value	Pair Corr
0.94	RFETX	American Funds 2030	Pair Corr
0.91	LTFIX	Principal Lifetime 2055	Pair Corr
0.81	VAESX	Virtus Emerging Markets	Pair Corr
0.84	SBFFX	Short Term Bond	Pair Corr
0.88	THGIX	Thornburg International	Pair Corr
0.74	DGLRX	Global Stock	Pair Corr
0.93	JMBRX	Jpmorgan Smartretirement*	Pair Corr

Related Correlations Analysis

	FRBRX	PGKCX	SHPAX	BIPIX	BSTSX	HTECX	JGLTX	DTEYX
FRBRX		0.65	0.72	0.78	0.68	0.47	0.48	0.61	FRBRX
PGKCX	0.65		0.21	0.51	0.81	0.57	0.85	0.77	PGKCX
SHPAX	0.72	0.21		0.52	0.22	-0.06	0.11	0.07	SHPAX
BIPIX	0.78	0.51	0.52		0.59	0.44	0.52	0.58	BIPIX
BSTSX	0.68	0.81	0.22	0.59		0.77	0.79	0.89	BSTSX
HTECX	0.47	0.57	-0.06	0.44	0.77		0.47	0.92	HTECX
JGLTX	0.48	0.85	0.11	0.52	0.79	0.47		0.74	JGLTX
DTEYX	0.61	0.77	0.07	0.58	0.89	0.92	0.74		DTEYX
	FRBRX	PGKCX	SHPAX	BIPIX	BSTSX	HTECX	JGLTX	DTEYX

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

DTEYX	+ 0.92	HTECX
DTEYX	+ 0.89	BSTSX
JGLTX	+ 0.85	PGKCX
BSTSX	+ 0.81	PGKCX
JGLTX	+ 0.79	BSTSX
BIPIX	+ 0.78	FRBRX

High negative correlations

HTECX

- 0.06

SHPAX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FRBRX	1.21	0.20	0.10	0.52	1.31	(1.29)	2.33	(2.25)	14.43
PGKCX	1.11	0.03	0.02	0.10	1.57	(1.03)	1.96	(2.60)	11.68
SHPAX	0.68	0.04	(0.01)	0.17	0.71	(0.76)	1.55	(1.42)	3.72
BIPIX	1.89	0.13	0.05	0.22	2.13	(2.10)	4.24	(3.27)	10.77
BSTSX	1.15	0.09	0.05	0.18	1.49	(1.12)	2.23	(2.59)	9.70
HTECX	1.36	0.36	0.28	0.43	0.93	(1.74)	1.55	(2.28)	30.65
JGLTX	1.01	0.00	0.00	0.08	1.40	(0.92)	1.98	(2.20)	5.68
DTEYX	1.20	0.17	0.10	0.25	1.28	(1.23)	2.19	(2.35)	13.22

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