| JCNIX Fund | | | USD 28.37 0.53 1.90% |
The current 90-days correlation between Janus Contrarian and Mid Cap Value Profund is 0.7 (i.e., Poor diversification). The correlation of Janus Contrarian 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 Contrarian Correlation With Market
Very weak diversification
The correlation between Janus Trarian Fund and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Janus Trarian 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 Trarian Fund. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.