Janus Overseas Correlations

JIGFX Fund

USD 46.97 0.38 0.82%

The current 90-days correlation between Janus Overseas and Janus Forty Fund is 0.54 (i.e., Very weak diversification). The correlation of Janus Overseas 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 Overseas Correlation With Market

Very weak diversification

The correlation between Janus Overseas Fund and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Janus Overseas 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 Overseas 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 census.

Moving together with Janus Mutual Fund

0.75	JAGLX	Janus Global Life	Pair Corr
1.0	JAIGX	Overseas Portfolio	Pair Corr

Moving against Janus Mutual Fund

0.42	JRSDX	Intech Managed Volatility	Pair Corr
0.42	JRSIX	Intech Managed Volatility	Pair Corr
0.42	JRSNX	Intech Managed Volatility	Pair Corr
0.42	JRSSX	Intech Managed Volatility	Pair Corr
0.42	JRSTX	Intech Managed Volatility	Pair Corr
0.41	JAAGX	Enterprise Portfolio	Pair Corr
0.41	JRSAX	Intech Managed Volatility	Pair Corr
0.41	JRSCX	Intech Managed Volatility	Pair Corr
0.41	JAENX	Janus Enterprise	Pair Corr
0.4	JRARX	Janus Henderson Research	Pair Corr
0.37	JRAAX	Janus Research	Pair Corr
0.37	JRACX	Janus Research	Pair Corr
0.37	JRAIX	Janus Research	Pair Corr
0.37	JRANX	Janus Research	Pair Corr
0.37	JRASX	Janus Research	Pair Corr
0.37	JAGRX	Research Portfolio	Pair Corr
0.36	JACNX	Janus Contrarian	Pair Corr
0.36	JACTX	Janus Forty Fund	Pair Corr
0.36	JACAX	Forty Portfolio Inst	Pair Corr
0.35	JACCX	Janus Forty Fund	Pair Corr
0.32	JAGTX	Janus Global Technology	Pair Corr
0.31	JAGCX	Janus Global Technology	Pair Corr
0.48	JSCVX	Perkins Small Cap	Pair Corr
0.48	JSCOX	Perkins Small Cap	Pair Corr
0.48	JSIVX	Perkins Small Cap	Pair Corr
0.47	JANIX	Janus Triton	Pair Corr
0.47	JANVX	Janus Venture	Pair Corr
0.47	JATTX	Janus Triton	Pair Corr
0.47	JAVTX	Janus Venture	Pair Corr
0.44	JSMGX	Janus Triton	Pair Corr

Related Correlations Analysis

	JCAPX	JMVAX	LSVEX	JSCOX	IVAEX
JCAPX		0.92	0.9	0.8	0.78	JCAPX
JMVAX	0.92		0.99	0.94	0.71	JMVAX
LSVEX	0.9	0.99		0.94	0.68	LSVEX
JSCOX	0.8	0.94	0.94		0.52	JSCOX
IVAEX	0.78	0.71	0.68	0.52		IVAEX
	JCAPX	JMVAX	LSVEX	JSCOX	IVAEX

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Risk-Adjusted Indicators

There is a big difference between Janus Mutual Fund performing well and Janus Overseas 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 Overseas' 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
JCAPX	0.67	0.03	0.01	0.15	0.91	(0.65)	1.41	(1.77)	4.63
JMVAX	0.59	(0.01)	(0.02)	0.11	0.51	(0.65)	1.32	(0.95)	4.40
LSVEX	0.66	(0.01)	(0.02)	0.10	0.50	(0.83)	1.33	(0.99)	4.73
JSCOX	0.87	(0.06)	(0.01)	0.07	0.82	(1.11)	1.71	(1.39)	8.20
IVAEX	0.42	0.03	(0.13)	(4.47)	0.60	(0.42)	0.79	(1.11)	3.09

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