Janus High Correlations

JAHYX Fund

USD 7.32 0.04 0.54%

The current 90-days correlation between Janus High Yield and Columbia Income Opportunities is 0.87 (i.e., Very poor 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

Weak diversification

The correlation between Janus High Yield Fund and DJI is 0.37 (i.e., 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 manufacturing.

Moving together with Janus Mutual Fund

0.61	JRSAX	Intech Managed Volatility	Pair Corr
0.64	JRSCX	Intech Managed Volatility	Pair Corr
0.64	JRSNX	Intech Managed Volatility	Pair Corr
0.64	JRSSX	Intech Managed Volatility	Pair Corr
0.78	JABLX	Balanced Portfolio	Pair Corr
0.67	JAMVX	Janus Aspen Perkins	Pair Corr
0.78	JASBX	Janus Short Term	Pair Corr

Related Correlations Analysis

	AIOAX	EVFHX	AQUI	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3	SITKF
AIOAX		0.2	0.0	0.4	0.9	0.08	0.72	0.02	0.05	-0.45	AIOAX
EVFHX	0.2		0.0	0.14	0.51	0.8	0.41	0.7	0.87	-0.03	EVFHX
AQUI	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	AQUI
MSTSX	0.4	0.14	0.0		0.49	-0.26	0.74	-0.26	-0.04	0.45	MSTSX
LBHIX	0.9	0.51	0.0	0.49		0.29	0.77	0.19	0.36	-0.27	LBHIX
VIASP	0.08	0.8	0.0	-0.26	0.29		0.22	0.84	0.77	-0.38	VIASP
RRTLX	0.72	0.41	0.0	0.74	0.77	0.22		0.16	0.19	-0.06	RRTLX
OSHDF	0.02	0.7	0.0	-0.26	0.19	0.84	0.16		0.6	-0.32	OSHDF
70082LAB3	0.05	0.87	0.0	-0.04	0.36	0.77	0.19	0.6		-0.05	70082LAB3
SITKF	-0.45	-0.03	0.0	0.45	-0.27	-0.38	-0.06	-0.32	-0.05		SITKF
	AIOAX	EVFHX	AQUI	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3	SITKF

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

LBHIX	+ 0.9	AIOAX
70082LAB3	+ 0.87	EVFHX
OSHDF	+ 0.84	VIASP
VIASP	+ 0.8	EVFHX
RRTLX	+ 0.77	LBHIX
70082LAB3	+ 0.77	VIASP

High negative correlations

SITKF	- 0.45	AIOAX
SITKF	- 0.38	VIASP
SITKF	- 0.32	OSHDF
SITKF	- 0.27	LBHIX
OSHDF	- 0.26	MSTSX
VIASP	- 0.26	MSTSX

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
AIOAX	0.11	(0.03)	0.00	(0.49)	0.00	0.00	0.23	(0.23)	0.57
EVFHX	0.07	0.02	(0.05)	3.36	0.00	(0.25)	0.11	(0.11)	0.80
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MSTSX	0.48	(0.03)	0.00	(0.53)	0.00	0.00	1.21	(1.00)	2.80
LBHIX	0.10	(0.02)	0.00	(0.39)	0.00	0.00	0.24	(0.24)	0.94
VIASP	0.76	0.15	0.09	(0.95)	1.05	(0.85)	2.00	(1.20)	6.28
RRTLX	0.24	(0.02)	0.00	(0.39)	0.00	0.00	0.48	(0.48)	1.36
OSHDF	46.68	24.44	0.00	(1.47)	0.00	0.00	0.00	0.00	1,329
70082LAB3	0.63	0.11	0.09	0.85	0.81	(0.79)	1.75	(0.74)	6.86
SITKF	5.32	0.55	0.08	0.72	5.02	(8.22)	14.29	(9.09)	30.02

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