Correlation Between Janus Henderson and Loomis Sayles
Can any of the company-specific risk be diversified away by investing in both Janus Henderson and Loomis Sayles at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Janus Henderson and Loomis Sayles into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Janus Henderson International and Loomis Sayles Strategic, you can compare the effects of market volatilities on Janus Henderson and Loomis Sayles and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Janus Henderson with a short position of Loomis Sayles. Check out your portfolio center. Please also check ongoing floating volatility patterns of Janus Henderson and Loomis Sayles.
Diversification Opportunities for Janus Henderson and Loomis Sayles
0.48 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Janus and Loomis is 0.48. Overlapping area represents the amount of risk that can be diversified away by holding Janus Henderson International and Loomis Sayles Strategic in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Loomis Sayles Strategic and Janus Henderson is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Janus Henderson International are associated (or correlated) with Loomis Sayles. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Loomis Sayles Strategic has no effect on the direction of Janus Henderson i.e., Janus Henderson and Loomis Sayles go up and down completely randomly.
Pair Corralation between Janus Henderson and Loomis Sayles
Assuming the 90 days horizon Janus Henderson International is expected to generate 1.19 times more return on investment than Loomis Sayles. However, Janus Henderson is 1.19 times more volatile than Loomis Sayles Strategic. It trades about 0.48 of its potential returns per unit of risk. Loomis Sayles Strategic is currently generating about 0.11 per unit of risk. If you would invest 1,909 in Janus Henderson International on September 2, 2024 and sell it today you would earn a total of 36.00 from holding Janus Henderson International or generate 1.89% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 2.42% |
| Values | Daily Returns |
Janus Henderson International vs. Loomis Sayles Strategic
Performance |
| Timeline |
| Janus Henderson Inte |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Loomis Sayles Strategic |
Janus Henderson and Loomis Sayles Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Janus Henderson and Loomis Sayles
The main advantage of trading using opposite Janus Henderson and Loomis Sayles positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Janus Henderson position performs unexpectedly, Loomis Sayles can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Loomis Sayles will offset losses from the drop in Loomis Sayles' long position.| Janus Henderson vs. Ivy Asset Strategy | Janus Henderson vs. Mfs Value Fund | Janus Henderson vs. Henderson Global Equity | Janus Henderson vs. Oppenheimer Rising Dividends |
| Loomis Sayles vs. Ep Emerging Markets | Loomis Sayles vs. Rbc Emerging Markets | Loomis Sayles vs. Pnc Emerging Markets | Loomis Sayles vs. Sp Midcap Index |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Global Correlations module to find global opportunities by holding instruments from different markets.
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