Janus Short Correlations

JASBX Fund

USD 2.87 0.01 0.35%

The current 90-days correlation between Janus Short Term and Blackrock Inflation Protected is 0.21 (i.e., Modest diversification). The correlation of Janus Short 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 Short Correlation With Market

Average diversification

The correlation between Janus Short Term Bond and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Janus Short Term Bond 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 Short Term Bond. 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 bureau of labor statistics.

Moving together with Janus Mutual Fund

0.78

JAHYX

Janus High Yield

Pair Corr

Moving against Janus Mutual Fund

0.33	JACCX	Janus Forty Fund	Pair Corr
0.32	JAGCX	Janus Global Technology	Pair Corr
0.32	JAGLX	Janus Global Life	Pair Corr

Related Correlations Analysis

	BPRAX	FEPAX	TLRAX	ELGAX	MGIAX
BPRAX		0.95	0.94	-0.42	0.74	BPRAX
FEPAX	0.95		0.95	-0.42	0.62	FEPAX
TLRAX	0.94	0.95		-0.38	0.7	TLRAX
ELGAX	-0.42	-0.42	-0.38		-0.09	ELGAX
MGIAX	0.74	0.62	0.7	-0.09		MGIAX
	BPRAX	FEPAX	TLRAX	ELGAX	MGIAX

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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

FEPAX	+ 0.95	BPRAX
TLRAX	+ 0.95	FEPAX
TLRAX	+ 0.94	BPRAX
MGIAX	+ 0.74	BPRAX
MGIAX	+ 0.7	TLRAX
MGIAX	+ 0.62	FEPAX

High negative correlations

ELGAX	- 0.42	FEPAX
ELGAX	- 0.42	BPRAX
ELGAX	- 0.38	TLRAX
MGIAX	- 0.09	ELGAX

Risk-Adjusted Indicators

There is a big difference between Janus Mutual Fund performing well and Janus Short 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 Short'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
BPRAX	0.21	(0.07)	(1.56)	0.32	(0.53)	1.06
FEPAX	0.22	(0.07)	(1.23)	0.42	(0.63)	1.26
TLRAX	0.22	(0.07)	(4.15)	0.42	(0.63)	1.38
ELGAX	0.95	(0.04)	(0.24)	1.83	(2.14)	12.66
MGIAX	0.81	(0.27)	(0.48)	1.06	(1.62)	13.91

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