Correlation Between Franklin Emerging and Janus Global
Can any of the company-specific risk be diversified away by investing in both Franklin Emerging and Janus Global 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 Franklin Emerging and Janus Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Franklin Emerging Market and Janus Global Select, you can compare the effects of market volatilities on Franklin Emerging and Janus Global 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 Franklin Emerging with a short position of Janus Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Franklin Emerging and Janus Global.
Diversification Opportunities for Franklin Emerging and Janus Global
0.95 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Franklin and Janus is 0.95. Overlapping area represents the amount of risk that can be diversified away by holding Franklin Emerging Market and Janus Global Select in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Janus Global Select and Franklin Emerging 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 Franklin Emerging Market are associated (or correlated) with Janus Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Janus Global Select has no effect on the direction of Franklin Emerging i.e., Franklin Emerging and Janus Global go up and down completely randomly.
Pair Corralation between Franklin Emerging and Janus Global
Assuming the 90 days horizon Franklin Emerging is expected to generate 1.02 times less return on investment than Janus Global. But when comparing it to its historical volatility, Franklin Emerging Market is 2.93 times less risky than Janus Global. It trades about 0.46 of its potential returns per unit of risk. Janus Global Select is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest 1,949 in Janus Global Select on June 8, 2025 and sell it today you would earn a total of 103.00 from holding Janus Global Select or generate 5.28% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Franklin Emerging Market vs. Janus Global Select
Performance |
| Timeline |
| Franklin Emerging Market |
| Janus Global Select |
Franklin Emerging and Janus Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Franklin Emerging and Janus Global
The main advantage of trading using opposite Franklin Emerging and Janus Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Franklin Emerging position performs unexpectedly, Janus Global 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 Janus Global will offset losses from the drop in Janus Global's long position.| Franklin Emerging vs. Franklin Mutual Beacon | Franklin Emerging vs. Templeton Developing Markets | Franklin Emerging vs. Franklin Mutual Global | Franklin Emerging vs. Franklin Mutual Global |
| Janus Global vs. Delaware Healthcare Fund | Janus Global vs. Hartford Healthcare Hls | Janus Global vs. Blackrock Health Sciences | Janus Global vs. Lord Abbett Health |
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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
Other Complementary Tools
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Transaction History View history of all your transactions and understand their impact on performance |