Janus Global Correlations

JORAX Fund

USD 20.48 0.05 0.24%

The current 90-days correlation between Janus Global Select and Nuveen Preferred Income is -0.09 (i.e., Good diversification). The correlation of Janus Global 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 Global Correlation With Market

Very poor diversification

The correlation between Janus Global Select 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 Janus Global Select 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 Global Select. 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

0.9	JRAAX	Janus Research	Pair Corr
0.9	JRARX	Janus Henderson Research	Pair Corr
0.85	JRASX	Janus Research	Pair Corr
0.94	JABAX	Janus Balanced	Pair Corr
0.93	JABCX	Janus Balanced	Pair Corr
0.95	JRSAX	Intech Managed Volatility	Pair Corr
0.95	JRSDX	Intech Managed Volatility	Pair Corr
0.95	JRSCX	Intech Managed Volatility	Pair Corr
0.96	JRSIX	Intech Managed Volatility	Pair Corr
0.95	JRSNX	Intech Managed Volatility	Pair Corr
0.95	JRSSX	Intech Managed Volatility	Pair Corr
0.95	JRSTX	Intech Managed Volatility	Pair Corr
0.81	JACTX	Janus Forty Fund	Pair Corr
0.95	JADGX	Janus Growth And	Pair Corr
0.94	JABNX	Janus Balanced	Pair Corr
0.93	JABRX	Janus Balanced	Pair Corr
0.91	JACCX	Janus Forty Fund	Pair Corr
0.9	JAENX	Janus Enterprise	Pair Corr
0.64	JAFLX	Flexible Bond Portfolio	Pair Corr
0.92	JAGTX	Janus Global Technology	Pair Corr
0.96	JAGIX	Janus Growth And	Pair Corr
0.9	JAGLX	Janus Global Life	Pair Corr
0.87	JAHYX	Janus High Yield	Pair Corr
0.87	JAIGX	Overseas Portfolio	Pair Corr
0.9	JANEX	Janus Enterprise	Pair Corr
0.95	JANIX	Janus Triton	Pair Corr
1.0	JANRX	Janus Global Select	Pair Corr
0.82	JANVX	Janus Venture	Pair Corr
0.84	JAMRX	Janus Research	Pair Corr
0.91	JSCVX	Perkins Small Cap	Pair Corr
0.88	JAOSX	Janus Overseas	Pair Corr
0.91	JSCOX	Perkins Small Cap	Pair Corr

Related Correlations Analysis

	FSSMX	UIGRX	FIDLX	ADX	AIVFX	WGROX	GOF	YAFFX	YAFIX	JPC
FSSMX		-0.11	-0.48	0.73	0.88	0.87	0.58	0.89	0.89	0.89	FSSMX
UIGRX	-0.11		0.15	0.03	-0.05	0.16	0.21	-0.13	-0.13	-0.17	UIGRX
FIDLX	-0.48	0.15		-0.52	-0.51	-0.47	-0.61	-0.5	-0.5	-0.45	FIDLX
ADX	0.73	0.03	-0.52		0.8	0.74	0.62	0.79	0.79	0.69	ADX
AIVFX	0.88	-0.05	-0.51	0.8		0.92	0.74	0.98	0.98	0.74	AIVFX
WGROX	0.87	0.16	-0.47	0.74	0.92		0.73	0.92	0.92	0.68	WGROX
GOF	0.58	0.21	-0.61	0.62	0.74	0.73		0.7	0.7	0.43	GOF
YAFFX	0.89	-0.13	-0.5	0.79	0.98	0.92	0.7		1.0	0.74	YAFFX
YAFIX	0.89	-0.13	-0.5	0.79	0.98	0.92	0.7	1.0		0.74	YAFIX
JPC	0.89	-0.17	-0.45	0.69	0.74	0.68	0.43	0.74	0.74		JPC
	FSSMX	UIGRX	FIDLX	ADX	AIVFX	WGROX	GOF	YAFFX	YAFIX	JPC

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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

YAFIX	+ 1.0	YAFFX
YAFFX	+ 0.98	AIVFX
YAFIX	+ 0.98	AIVFX
WGROX	+ 0.92	AIVFX
YAFFX	+ 0.92	WGROX
YAFIX	+ 0.92	WGROX

High negative correlations

GOF	- 0.61	FIDLX
ADX	- 0.52	FIDLX
AIVFX	- 0.51	FIDLX
YAFIX	- 0.5	FIDLX
YAFFX	- 0.5	FIDLX
FIDLX	- 0.48	FSSMX

Risk-Adjusted Indicators

There is a big difference between Janus Mutual Fund performing well and Janus Global 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 Global'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
FSSMX	0.75	0.07	0.08	0.14	0.68	(0.89)	1.90	(1.57)	3.71
UIGRX	0.74	(0.14)	0.00	(0.11)	0.00	0.00	1.43	(1.90)	4.60
FIDLX	0.41	(0.01)	0.00	0.35	0.00	0.00	0.92	(1.34)	3.50
ADX	0.65	0.04	0.01	0.16	0.64	(0.70)	1.51	(1.16)	3.00
AIVFX	0.73	0.22	0.19	(3.64)	0.47	(0.86)	1.70	(1.25)	4.50
WGROX	1.08	0.07	0.08	0.13	0.91	(1.39)	2.41	(2.03)	12.56
GOF	0.76	(0.05)	0.00	(0.03)	0.00	0.00	1.50	(1.49)	5.25
YAFFX	0.78	0.47	0.52	1.97	0.00	(1.00)	1.41	(0.83)	15.86
YAFIX	0.79	0.47	0.52	1.97	0.00	(1.01)	1.36	(0.83)	16.03
JPC	0.37	0.04	(0.03)	0.22	0.34	(0.44)	0.64	(0.75)	2.74

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