Janus High Correlations

JDHYX Fund

USD 7.47 0.01 0.13%

The current 90-days correlation between Janus High Yield and Harbor Large Cap is 0.51 (i.e., Very weak diversification). The correlation of Janus High 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 Correlation With Market

Poor diversification

The correlation between Janus High Yield Fund and DJI is 0.61 (i.e., Poor 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 private.

Moving together with Janus Mutual Fund

0.72	JRANX	Janus Research	Pair Corr
0.77	JAAGX	Enterprise Portfolio	Pair Corr
0.79	JABLX	Balanced Portfolio	Pair Corr
0.72	JAGRX	Research Portfolio	Pair Corr
0.99	JAHYX	Janus High Yield	Pair Corr
0.78	JANVX	Janus Venture	Pair Corr

Moving against Janus Mutual Fund

0.31

JACCX

Janus Forty Fund

Pair Corr

Related Correlations Analysis

	HILVX	PESPX	QQQX	HCKAX	GTMUX	IBALX	LVAEX	PSILX
HILVX		0.91	0.46	0.52	0.35	0.52	0.88	0.57	HILVX
PESPX	0.91		0.61	0.54	0.37	0.63	0.85	0.66	PESPX
QQQX	0.46	0.61		0.83	0.47	0.94	0.66	0.86	QQQX
HCKAX	0.52	0.54	0.83		0.37	0.86	0.77	0.81	HCKAX
GTMUX	0.35	0.37	0.47	0.37		0.45	0.24	0.32	GTMUX
IBALX	0.52	0.63	0.94	0.86	0.45		0.72	0.89	IBALX
LVAEX	0.88	0.85	0.66	0.77	0.24	0.72		0.75	LVAEX
PSILX	0.57	0.66	0.86	0.81	0.32	0.89	0.75		PSILX
	HILVX	PESPX	QQQX	HCKAX	GTMUX	IBALX	LVAEX	PSILX

Risk-Adjusted Indicators

There is a big difference between Janus Mutual Fund performing well and Janus High 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'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
HILVX	0.56	(0.05)	(0.07)	0.02	0.69	(0.63)	1.21	(1.11)	3.45
PESPX	0.74	(0.06)	(0.05)	0.02	0.96	(0.75)	1.84	(1.60)	4.17
QQQX	0.67	(0.01)	(0.02)	0.06	0.96	(0.64)	1.33	(1.53)	3.92
HCKAX	0.36	0.02	(0.08)	0.26	0.43	(0.39)	0.84	(0.72)	1.95
GTMUX	1.11	(0.20)	0.00	(0.39)	0.00	0.00	1.79	(1.94)	16.01
IBALX	0.33	(0.02)	(0.10)	0.04	0.46	(0.33)	0.77	(0.74)	2.10
LVAEX	0.59	0.01	0.00	0.08	0.70	(0.63)	1.39	(1.30)	3.43
PSILX	0.56	(0.01)	(0.03)	0.06	0.74	(0.56)	1.17	(1.12)	3.21

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