Janus High Correlations

JHYNX Fund

USD 7.39 0.01 0.14%

The current 90-days correlation between Janus High Yield and Janus Global Allocation is 0.06 (i.e., Significant 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

Significant diversification

The correlation between Janus High Yield Fund and DJI is 0.04 (i.e., Significant 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 board of governors.

Moving together with Janus Mutual Fund

0.68	JAAGX	Enterprise Portfolio	Pair Corr
0.76	JABLX	Balanced Portfolio	Pair Corr
0.75	JACAX	Forty Portfolio Inst	Pair Corr
0.79	JAGRX	Research Portfolio	Pair Corr
0.99	JAHYX	Janus High Yield	Pair Corr

Moving against Janus Mutual Fund

0.31	JACNX	Janus Trarian	Pair Corr
0.44	JAGLX	Janus Global Life Steady Growth	Pair Corr
0.39	JACCX	Janus Forty Fund	Pair Corr
0.37	JAGCX	Janus Global Technology	Pair Corr
0.32	JARTX	Janus Forty Fund	Pair Corr

Related Correlations Analysis

	JGCAX	JGCCX	JGCIX	JGCSX	JGBAX	JGBDX	JGBCX	JGBIX	JGBSX
JGCAX		1.0	1.0	1.0	0.33	0.31	0.35	0.31	0.35	JGCAX
JGCCX	1.0		1.0	1.0	0.34	0.32	0.36	0.32	0.36	JGCCX
JGCIX	1.0	1.0		1.0	0.33	0.31	0.35	0.31	0.35	JGCIX
JGCSX	1.0	1.0	1.0		0.33	0.32	0.36	0.32	0.36	JGCSX
JGBAX	0.33	0.34	0.33	0.33		1.0	1.0	1.0	1.0	JGBAX
JGBDX	0.31	0.32	0.31	0.32	1.0		1.0	1.0	1.0	JGBDX
JGBCX	0.35	0.36	0.35	0.36	1.0	1.0		1.0	1.0	JGBCX
JGBIX	0.31	0.32	0.31	0.32	1.0	1.0	1.0		1.0	JGBIX
JGBSX	0.35	0.36	0.35	0.36	1.0	1.0	1.0	1.0		JGBSX
	JGCAX	JGCCX	JGCIX	JGCSX	JGBAX	JGBDX	JGBCX	JGBIX	JGBSX

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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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
JGCAX	0.56	(0.12)	(0.17)	0.92	(1.01)	8.32
JGCCX	0.56	(0.13)	(0.18)	0.88	(1.10)	8.49
JGCIX	0.56	(0.12)	(0.17)	0.93	(1.07)	8.23
JGCSX	0.57	(0.13)	(0.17)	0.92	(1.02)	8.44
JGBAX	0.36	(0.02)	1.33	0.76	(0.76)	2.06
JGBDX	0.37	(0.02)	(7.34)	0.76	(0.76)	2.07
JGBCX	0.35	(0.02)	1.35	0.76	(0.76)	2.06
JGBIX	0.37	(0.02)	(7.34)	0.76	(0.76)	2.07
JGBSX	0.36	(0.02)	1.49	0.76	(0.76)	2.07

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