Japan Smaller Correlations

JOF Fund

USD 11.58 0.16 1.40%

The current 90-days correlation between Japan Smaller Capita and Templeton Dragon Closed is 0.14 (i.e., Average diversification). The correlation of Japan Smaller 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.

Japan Smaller Correlation With Market

Very poor diversification

The correlation between Japan Smaller Capitalization and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Japan Smaller Capitalization 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 Japan Smaller Capitalization. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Japan Fund

0.81	NEA	Nuveen Amt Free	Pair Corr
0.74	NAD	Nuveen Dividend Advantage	Pair Corr
0.81	NVG	Nuveen Amt Free	Pair Corr
0.76	CSQ	Calamos Strategic Total	Pair Corr
0.89	UTF	Cohen And Steers	Pair Corr
0.93	RSSYX	Victory Rs Select	Pair Corr
0.96	PAALX	All Asset Fund	Pair Corr
0.74	GAOTX	Jpmorgan Global Allo	Pair Corr
0.77	MSNJX	Blackrock Nj Muni	Pair Corr
0.97	MYSIX	Victory Trivalent	Pair Corr
0.93	SGLIX	Summit Global Investments	Pair Corr
0.93	OAAIX	Oppenheimer Aggrssv	Pair Corr
0.96	FSKLX	Fidelity Sai Interna	Pair Corr
0.95	APDGX	Artisan Global Value	Pair Corr
0.91	PECAX	Jpmorgan Intrepid Mid	Pair Corr
0.91	PGUAX	Virtus Global Infras	Pair Corr
0.94	FITFX	Fidelity Flex Intern	Pair Corr
0.97	FISRX	Franklin Income	Pair Corr
0.93	FFLQX	Franklin Federal Lim	Pair Corr
0.88	MNDIX	Mfs New Discovery	Pair Corr
0.89	DMFZX	Destinations Municipal	Pair Corr
0.94	RGBGX	American Funds Global	Pair Corr
0.93	HYPPX	Mfs High Yield	Pair Corr
0.83	ABRJX	Abr Enhanced Short	Pair Corr
0.72	DFITX	Dfa International Real	Pair Corr
0.71	TEPAX	American Funds Tax	Pair Corr
0.9	FGTIX	Franklin Growth Allo	Pair Corr
0.95	FCSRX	Fidelity Strategic Real	Pair Corr
0.96	SICIX	Saat Servative Strategy	Pair Corr
0.94	BVALX	Brown Advisory	Pair Corr
0.96	LICYX	Lord Abbett International	Pair Corr
0.92	TLWHX	Tiaa Cref Lifecycle	Pair Corr
0.71	PDODX	Prudential Day One	Pair Corr
0.73	CUSRX	Cullen Small Cap	Pair Corr
0.89	SECPX	Sdit Ultra Short	Pair Corr
0.93	TRFHX	T Rowe Price	Pair Corr

Moving against Japan Fund

0.51

CYCL

Centennial Communications

Pair Corr

Related Correlations Analysis

	TDF	LBGIX	TRFFX	DBL	CAF	NCA	SWCRX	TMSRX	RFI	SAISX
TDF		0.66	0.75	0.25	0.78	0.56	0.63	0.47	0.2	0.7	TDF
LBGIX	0.66		0.59	0.59	0.49	0.17	0.36	0.34	0.44	0.48	LBGIX
TRFFX	0.75	0.59		0.29	0.88	0.5	0.81	0.67	-0.22	0.97	TRFFX
DBL	0.25	0.59	0.29		0.12	-0.03	0.13	0.17	0.34	0.24	DBL
CAF	0.78	0.49	0.88	0.12		0.46	0.78	0.67	-0.3	0.88	CAF
NCA	0.56	0.17	0.5	-0.03	0.46		0.54	0.33	0.18	0.5	NCA
SWCRX	0.63	0.36	0.81	0.13	0.78	0.54		0.65	-0.18	0.82	SWCRX
TMSRX	0.47	0.34	0.67	0.17	0.67	0.33	0.65		-0.28	0.59	TMSRX
RFI	0.2	0.44	-0.22	0.34	-0.3	0.18	-0.18	-0.28		-0.28	RFI
SAISX	0.7	0.48	0.97	0.24	0.88	0.5	0.82	0.59	-0.28		SAISX
	TDF	LBGIX	TRFFX	DBL	CAF	NCA	SWCRX	TMSRX	RFI	SAISX

Please upgrade your account to get full access to Macroaxis premium features

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

SAISX	+ 0.97	TRFFX
CAF	+ 0.88	TRFFX
SAISX	+ 0.88	CAF
SAISX	+ 0.82	SWCRX
SWCRX	+ 0.81	TRFFX
CAF	+ 0.78	TDF

High negative correlations

RFI	- 0.3	CAF
SAISX	- 0.28	RFI
RFI	- 0.28	TMSRX
RFI	- 0.22	TRFFX
RFI	- 0.18	SWCRX
NCA	- 0.03	DBL

Risk-Adjusted Indicators

There is a big difference between Japan Fund performing well and Japan Smaller 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 Japan Smaller'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
TDF	0.75	0.04	0.01	0.15	0.72	(0.91)	1.56	(1.38)	4.59
LBGIX	0.80	(0.10)	0.00	(0.02)	0.00	0.00	1.51	(1.83)	3.95
TRFFX	0.50	0.03	0.02	0.12	0.57	(0.53)	1.09	(1.13)	2.73
DBL	0.33	(0.03)	0.00	(0.16)	0.00	0.00	0.60	(0.53)	2.05
CAF	0.95	0.18	0.13	0.49	0.82	(1.13)	2.28	(1.77)	6.75
NCA	0.53	0.11	0.03	(0.61)	0.55	(0.67)	1.19	(0.98)	5.74
SWCRX	0.69	0.16	0.05	1.30	1.37	(0.80)	0.59	(0.58)	27.99
TMSRX	0.13	(0.02)	0.00	(0.17)	0.00	0.00	0.23	(0.34)	2.16
RFI	0.54	(0.09)	0.00	(0.19)	0.00	0.00	0.98	(1.09)	2.61
SAISX	0.55	0.12	0.14	0.27	0.43	(0.63)	1.23	(1.06)	2.61

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2026 Macroaxis LLC