Janus High-yield Correlations

JAHYX Fund

USD 7.42 0.01 0.13%

The current 90-days correlation between Janus High Yield and Abbey Capital Futures is 0.42 (i.e., Very weak diversification). The correlation of Janus High-yield 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 High-yield Correlation With Market

Very weak diversification

The correlation between Janus High Yield Fund and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Janus High Yield 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 Janus High Yield 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 population.

Moving together with Janus Mutual Fund

0.82	VWEAX	Vanguard High Yield	Pair Corr
0.74	VWEHX	Vanguard High Yield	Pair Corr
0.76	BHYCX	Blackrock Hi Yld	Pair Corr
0.84	BHYIX	Blackrock High Yield	Pair Corr
0.76	BHYSX	Blackrock Hi Yld	Pair Corr
0.76	BHYAX	Blackrock High Yield	Pair Corr
0.68	FAHHX	American Funds American	Pair Corr
0.68	FTAHX	American Funds American	Pair Corr
0.69	AHTFX	American High Income	Pair Corr
0.65	AHTCX	American High Income	Pair Corr
0.64	GPICX	Guidepath Conservative	Pair Corr
0.61	BAC	Bank of America	Pair Corr
0.7	IBM	International Business	Pair Corr
0.64	INTC	Intel Aggressive Push	Pair Corr

Moving against Janus Mutual Fund

0.8	USPSX	Profunds Ultrashort Downward Rally	Pair Corr
0.73	USPIX	Profunds Ultrashort Downward Rally	Pair Corr
0.52	TCSUX	Cleartrack 2020 Class	Pair Corr
0.5	TCTGX	Transamerica Cleartrack	Pair Corr
0.5	TDKTX	Cleartrack 2015 Class	Pair Corr
0.5	TCTJX	Transamerica Cleartrack	Pair Corr
0.5	T	ATT Inc	Pair Corr
0.42	BA	Boeing	Pair Corr

Related Correlations Analysis

	ABYCX	HIPFX	NWXNX	QCILIX	AIAHX	GMQPX
ABYCX		0.8	0.71	0.56	0.67	0.9	ABYCX
HIPFX	0.8		0.85	0.91	0.84	0.79	HIPFX
NWXNX	0.71	0.85		0.86	0.99	0.58	NWXNX
QCILIX	0.56	0.91	0.86		0.86	0.51	QCILIX
AIAHX	0.67	0.84	0.99	0.86		0.54	AIAHX
GMQPX	0.9	0.79	0.58	0.51	0.54		GMQPX
	ABYCX	HIPFX	NWXNX	QCILIX	AIAHX	GMQPX

Risk-Adjusted Indicators

There is a big difference between Janus Mutual Fund performing well and Janus High-yield 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 High-yield'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
ABYCX	0.37	0.03	0.04	0.11	0.39	(0.46)	0.95	(0.67)	2.57
HIPFX	0.12	0.02	0.00	0.78	0.00	(0.17)	0.19	(0.19)	1.05
NWXNX	0.14	0.01	(0.06)	0.28	0.08	(0.18)	0.33	(0.22)	0.87
QCILIX	0.11	0.01	(0.06)	0.29	0.00	(0.13)	0.23	(0.15)	0.95
AIAHX	0.14	0.01	(0.07)	0.39	0.10	(0.16)	0.28	(0.28)	0.83
GMQPX	0.34	0.07	0.10	(1.69)	0.35	(0.39)	0.87	(0.64)	2.54

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