Janus Global Correlations

Mutual Funds . USA . 
Fund . Janus Global Select
JORNX Fund  USD 20.20  0.07  0.35%   
The current 90-days correlation between Janus Global Select and Janus Research Fund is -0.02 (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

Poor diversification

The correlation between Janus Global Select and DJI is 0.75 (i.e., 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 board of governors.

Moving together with Janus Mutual Fund

  0.77JRAAX Janus ResearchPairCorr
  0.77JRACX Janus ResearchPairCorr
  0.77JRAIX Janus ResearchPairCorr
  0.77JRANX Janus ResearchPairCorr
  0.83JRARX Janus Henderson ResearchPairCorr
  0.82JRASX Janus ResearchPairCorr
  0.8JAAGX Enterprise PortfolioPairCorr
  0.86JABAX Janus BalancedPairCorr
  0.87JABCX Janus BalancedPairCorr
  0.8JRSAX Intech Managed VolatilityPairCorr
  0.8JRSDX Intech Managed VolatilityPairCorr
  0.81JRSCX Intech Managed VolatilityPairCorr
  0.74JRSIX Intech Managed VolatilityPairCorr
  0.73JRSNX Intech Managed VolatilityPairCorr
  0.73JRSSX Intech Managed VolatilityPairCorr
  0.8JRSTX Intech Managed VolatilityPairCorr
  0.82JACNX Janus ContrarianPairCorr
  0.82JACTX Janus Forty FundPairCorr
  0.9JADGX Janus Growth AndPairCorr
  0.86JABLX Balanced PortfolioPairCorr
  0.86JABNX Janus BalancedPairCorr
  0.81JABRX Janus BalancedPairCorr
  0.77JACAX Forty Portfolio InstPairCorr
  0.82JACCX Janus Forty FundPairCorr
  0.8JAENX Janus EnterprisePairCorr
  0.82JAGRX Research PortfolioPairCorr
  0.74JAGTX Janus Global TechnologyPairCorr
  0.85JAGCX Janus Global TechnologyPairCorr
  0.89JAGIX Janus Growth AndPairCorr
  0.69JAHYX Janus High YieldPairCorr
  0.86JANBX Janus BalancedPairCorr
  0.8JANEX Janus EnterprisePairCorr
  0.71JANIX Janus TritonPairCorr
  0.91JANRX Janus Global SelectPairCorr

Moving against Janus Mutual Fund

  0.46JAFLX Flexible Bond PortfolioPairCorr
  0.45JADFX Janus Flexible BondPairCorr
  0.4JAFIX Janus Flexible BondPairCorr
  0.4JANFX Janus Flexible BondPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
JRAAX  0.78  0.09 (0.03)(1.44) 1.22 
(0.74)
 1.64 
(2.28)
 4.97 
JRACX  0.78  0.09 (0.03)(1.37) 1.23 
(0.73)
 1.64 
(2.29)
 4.99 
JRAIX  0.78  0.09 (0.03)(1.45) 1.22 
(0.74)
 1.63 
(2.29)
 4.97 
JRANX  0.78  0.09 (0.03)(1.46) 1.22 
(0.74)
 1.64 
(2.29)
 4.98 
JRARX  0.75 (0.01)(0.01) 0.11  1.18 
(0.74)
 1.64 
(2.30)
 4.98 
JRASX  0.75 (0.01)(0.01) 0.11  1.18 
(0.74)
 1.64 
(2.29)
 4.98 
JAAGX  0.61  0.00 (0.02) 0.12  0.64 
(0.63)
 1.32 
(1.26)
 3.64 
JABAX  0.37 (0.02)(0.15) 0.08  0.43 
(0.40)
 0.83 
(0.94)
 2.33 
JABCX  0.37 (0.02)(0.16) 0.07  0.43 
(0.39)
 0.84 
(0.94)
 2.32 
JRSAX  0.52  0.00 (0.04) 0.12  0.57 
(0.57)
 1.18 
(1.06)
 3.28 

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