Janus High Correlations

JHYAX Fund

USD 7.41 0.01 0.13%

The current 90-days correlation between Janus High Yield and Columbia Income Opportunities is 0.29 (i.e., Modest diversification). The correlation of Janus High 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 High Correlation With Market

Modest diversification

The correlation between Janus High Yield Fund and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Janus High Yield Fund 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 High Yield Fund. 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 nation.

Moving together with Janus Mutual Fund

0.63	JRAIX	Janus Research	Pair Corr
0.66	JRANX	Janus Research	Pair Corr
0.66	JRARX	Janus Henderson Research	Pair Corr
0.62	JRASX	Janus Research	Pair Corr
0.7	JRSAX	Intech Managed Volatility	Pair Corr
0.71	JRSCX	Intech Managed Volatility	Pair Corr
0.73	JRSIX	Intech Managed Volatility	Pair Corr
0.73	JRSNX	Intech Managed Volatility	Pair Corr
0.74	JRSSX	Intech Managed Volatility	Pair Corr
0.69	JRSTX	Intech Managed Volatility	Pair Corr
0.83	JABLX	Balanced Portfolio	Pair Corr
0.72	JABRX	Janus Balanced	Pair Corr
0.93	JAHYX	Janus High Yield	Pair Corr
0.63	JAMRX	Janus Research	Pair Corr
0.74	JAMVX	Janus Aspen Perkins	Pair Corr

Moving against Janus Mutual Fund

0.46

JAGLX

Janus Global Life

Pair Corr

Related Correlations Analysis

	AIOAX	EVFHX	AQUI	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3	SITKF
AIOAX		0.32	0.0	0.37	0.77	0.27	0.69	0.36	0.06	-0.39	AIOAX
EVFHX	0.32		0.0	0.44	0.68	0.76	0.54	0.76	0.86	0.23	EVFHX
AQUI	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	AQUI
MSTSX	0.37	0.44	0.0		0.65	0.08	0.76	0.19	0.2	0.6	MSTSX
LBHIX	0.77	0.68	0.0	0.65		0.5	0.83	0.56	0.41	0.0	LBHIX
VIASP	0.27	0.76	0.0	0.08	0.5		0.35	0.87	0.71	-0.19	VIASP
RRTLX	0.69	0.54	0.0	0.76	0.83	0.35		0.45	0.24	0.17	RRTLX
OSHDF	0.36	0.76	0.0	0.19	0.56	0.87	0.45		0.64	-0.15	OSHDF
70082LAB3	0.06	0.86	0.0	0.2	0.41	0.71	0.24	0.64		0.16	70082LAB3
SITKF	-0.39	0.23	0.0	0.6	0.0	-0.19	0.17	-0.15	0.16		SITKF
	AIOAX	EVFHX	AQUI	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3	SITKF

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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

OSHDF	+ 0.87	VIASP
70082LAB3	+ 0.86	EVFHX
RRTLX	+ 0.83	LBHIX
LBHIX	+ 0.77	AIOAX
VIASP	+ 0.76	EVFHX
OSHDF	+ 0.76	EVFHX

High negative correlations

SITKF	- 0.39	AIOAX
SITKF	- 0.19	VIASP
SITKF	- 0.15	OSHDF
SITKF	- 0.0	LBHIX
SITKF	- 0.0	AQUI
70082LAB3	- 0.0	AQUI

Risk-Adjusted Indicators

There is a big difference between Janus Mutual Fund performing well and Janus High 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 High'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
AIOAX	0.10	0.00	(0.67)	0.05	0.00	(0.16)	0.23	(0.23)	0.57
EVFHX	0.07	0.02	(0.73)	(2.17)	0.00	(0.24)	0.12	(0.11)	0.80
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MSTSX	0.45	0.00	(0.10)	0.11	0.39	(0.58)	1.21	(0.84)	2.80
LBHIX	0.10	0.01	(0.41)	0.24	0.00	(0.25)	0.24	(0.24)	0.71
VIASP	0.76	0.12	0.00	(1.56)	1.12	(0.82)	2.28	(1.20)	7.18
RRTLX	0.22	0.02	(0.29)	0.47	0.16	(0.25)	0.48	(0.47)	1.36
OSHDF	39.65	22.79	0.00	(0.86)	0.00	0.00	0.00	0.00	1,329
70082LAB3	0.70	0.07	(0.03)	1.15	0.99	(0.84)	1.75	(1.19)	6.86
SITKF	5.56	0.59	0.08	1.45	5.22	(7.98)	14.29	(9.09)	30.02

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