Johnson Opportunity Correlations

JOPPX Fund

USD 59.26 0.14 0.24%

The current 90-days correlation between Johnson Opportunity and Johnson Core Plus is -0.07 (i.e., Good diversification). The correlation of Johnson Opportunity 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 Opportunity Correlation With Market

Very poor diversification

The correlation between Johnson Opportunity Fund 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 Opportunity 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 Johnson Opportunity 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 american community survey.

Moving together with Johnson Mutual Fund

0.94	JENHX	Johnson Enhanced Return	Pair Corr
0.86	JEQIX	Johnson Equity Income	Pair Corr
0.94	JEQSX	Johnson Equity Income	Pair Corr
1.0	JOSSX	Johnson Opportunity	Pair Corr
0.95	VIMAX	Vanguard Mid Cap	Pair Corr
0.95	VIMSX	Vanguard Mid Cap	Pair Corr
0.91	VMCPX	Vanguard Mid Cap	Pair Corr
0.95	VMCIX	Vanguard Mid Cap	Pair Corr
0.91	VEXAX	Vanguard Extended Market	Pair Corr
0.94	VEMPX	Vanguard Extended Market	Pair Corr
0.91	VIEIX	Vanguard Extended Market	Pair Corr
0.94	VSEMX	Vanguard Extended Market	Pair Corr
0.94	VEXMX	Vanguard Extended Market	Pair Corr
0.91	FSMAX	Fidelity Extended Market	Pair Corr
0.96	TRLCX	Tiaa-cref Large-cap	Pair Corr
0.89	ADX	Adams Diversified Equity	Pair Corr
0.9	APGZX	Ab Large Cap	Pair Corr
0.76	FFRDX	Franklin Floating Rate	Pair Corr
0.91	PCWPX	Strategic Asset Mana	Pair Corr
0.97	FTVFX	Fidelity Advisor Value	Pair Corr
0.75	FGB	First Trust Specialty	Pair Corr
0.89	MAWAX	Mfs Aggressive Growth	Pair Corr
0.82	REBGX	American Funds Global	Pair Corr
0.98	FEMAX	First Eagle Smid	Pair Corr
0.98	VEXRX	Vanguard Explorer	Pair Corr
0.75	FFTMX	Fidelity Asset Manager	Pair Corr

Moving against Johnson Mutual Fund

0.61	JIBSX	Johnson Mutual Funds	Pair Corr
0.61	JIBFX	Johnson Institutional	Pair Corr
0.61	JIMFX	Johnson Institutional	Pair Corr
0.6	JCPLX	Johnson Core Plus	Pair Corr
0.59	JIBEX	Johnson Institutional	Pair Corr
0.59	JIMEX	Johnson Institutional	Pair Corr
0.36	JIMDX	Johnson Institutional	Pair Corr
0.56	PFHCX	Pacific Funds Small	Pair Corr

Related Correlations Analysis

	JCPLX	JENHX	JEQIX	JEQSX	JIBSX	JIBDX	JIBFX	JIBEX	JIMEX	JIMDX
JCPLX		-0.64	-0.54	-0.53	1.0	0.78	1.0	0.99	0.99	0.86	JCPLX
JENHX	-0.64		0.85	0.91	-0.64	-0.2	-0.64	-0.6	-0.6	-0.3	JENHX
JEQIX	-0.54	0.85		0.92	-0.53	-0.23	-0.53	-0.51	-0.51	-0.28	JEQIX
JEQSX	-0.53	0.91	0.92		-0.53	-0.23	-0.53	-0.51	-0.51	-0.29	JEQSX
JIBSX	1.0	-0.64	-0.53	-0.53		0.78	1.0	0.99	0.99	0.87	JIBSX
JIBDX	0.78	-0.2	-0.23	-0.23	0.78		0.78	0.82	0.82	0.92	JIBDX
JIBFX	1.0	-0.64	-0.53	-0.53	1.0	0.78		0.99	0.99	0.87	JIBFX
JIBEX	0.99	-0.6	-0.51	-0.51	0.99	0.82	0.99		1.0	0.91	JIBEX
JIMEX	0.99	-0.6	-0.51	-0.51	0.99	0.82	0.99	1.0		0.91	JIMEX
JIMDX	0.86	-0.3	-0.28	-0.29	0.87	0.92	0.87	0.91	0.91		JIMDX
	JCPLX	JENHX	JEQIX	JEQSX	JIBSX	JIBDX	JIBFX	JIBEX	JIMEX	JIMDX

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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

JIBSX	+ 1.0	JCPLX
JIBFX	+ 1.0	JCPLX
JIBFX	+ 1.0	JIBSX
JIMEX	+ 1.0	JIBEX
JIBEX	+ 0.99	JCPLX
JIMEX	+ 0.99	JCPLX

High negative correlations

JIBFX	- 0.64	JENHX
JIBSX	- 0.64	JENHX
JENHX	- 0.64	JCPLX
JIMEX	- 0.6	JENHX
JIBEX	- 0.6	JENHX
JEQIX	- 0.54	JCPLX

Risk-Adjusted Indicators

There is a big difference between Johnson Mutual Fund performing well and Johnson Opportunity 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 Opportunity'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
JCPLX	0.26	(0.02)	0.00	0.40	0.00	0.00	0.47	(0.55)	1.41
JENHX	0.55	(0.01)	(0.05)	0.10	0.67	(0.61)	1.13	(1.26)	3.79
JEQIX	0.49	0.07	(0.07)	6.30	0.50	(0.52)	0.90	(0.81)	3.06
JEQSX	0.49	(0.02)	(0.08)	0.09	0.49	(0.53)	0.93	(0.82)	3.04
JIBSX	0.26	(0.02)	0.00	0.37	0.00	0.00	0.55	(0.55)	1.46
JIBDX	0.08	(0.01)	(0.98)	(0.45)	0.09	(0.11)	0.13	(0.13)	0.47
JIBFX	0.26	(0.02)	0.00	0.38	0.00	0.00	0.55	(0.49)	1.53
JIBEX	0.17	(0.02)	0.00	0.47	0.00	0.00	0.28	(0.41)	1.03
JIMEX	0.18	(0.02)	0.00	0.42	0.00	0.00	0.33	(0.34)	0.93
JIMDX	0.08	(0.01)	(0.82)	0.38	0.10	(0.11)	0.13	(0.20)	0.60

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