Johnson Equity Correlations

JEQIX Fund

USD 39.13 0.10 0.26%

The current 90-days correlation between Johnson Equity Income and Franklin Adjustable Government is -0.01 (i.e., Good diversification). The correlation of Johnson Equity 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.

Johnson Equity Correlation With Market

Very poor diversification

The correlation between Johnson Equity Income and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Johnson Equity Income 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 Johnson Equity Income. 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 census.

Moving together with Johnson Mutual Fund

0.87	JCPLX	Johnson Core Plus	Pair Corr
0.96	JENHX	Johnson Enhanced Return	Pair Corr
1.0	JEQSX	Johnson Equity Income	Pair Corr
0.87	JIBSX	Johnson Mutual Funds	Pair Corr
0.91	JIBDX	Johnson Institutional	Pair Corr
0.87	JIBFX	Johnson Institutional	Pair Corr
0.88	JIBEX	Johnson Institutional	Pair Corr
0.88	JIMEX	Johnson Institutional	Pair Corr
0.91	JIMDX	Johnson Institutional	Pair Corr
0.87	JIMFX	Johnson Institutional	Pair Corr
0.82	JMUNX	Johnson Municipal Income	Pair Corr
0.66	JOPPX	Johnson Opportunity	Pair Corr
0.66	JOSSX	Johnson Opportunity	Pair Corr
0.96	VTSAX	Vanguard Total Stock	Pair Corr
0.96	VFIAX	Vanguard 500 Index	Pair Corr
0.96	VTSMX	Vanguard Total Stock	Pair Corr
0.96	VITSX	Vanguard Total Stock	Pair Corr
0.96	VSMPX	Vanguard Total Stock	Pair Corr
0.96	VSTSX	Vanguard Total Stock	Pair Corr
0.96	VFINX	Vanguard 500 Index	Pair Corr
0.96	VFFSX	Vanguard 500 Index	Pair Corr
0.96	VINIX	Vanguard Institutional	Pair Corr
0.96	VIIIX	Vanguard Institutional	Pair Corr
0.95	VGTSX	Vanguard Total Inter	Pair Corr
0.95	VTIAX	Vanguard Total Inter	Pair Corr
0.84	GWMIX	Amg Gwk Municipal	Pair Corr
0.91	NKMCX	North Square Kennedy	Pair Corr
0.94	QMGYX	Oppenheimer Global	Pair Corr
0.97	SASDX	Saat Aggressive Strategy	Pair Corr
0.97	CGAGX	Columbia Growth 529	Pair Corr
0.89	ADAIX	Aqr Diversified Arbitrage	Pair Corr
0.92	RSLDX	Smallcap World	Pair Corr
0.99	DDFRX	Invesco Diversified	Pair Corr
0.84	MNTRX	Total Return Bond	Pair Corr
0.91	SMDSX	Alpssmith Short Duration	Pair Corr
0.93	PSSIX	Smallcap Sp 600	Pair Corr
0.86	RAPCX	Cohen Steers Real	Pair Corr
0.95	SMXAX	Siit Extended Market	Pair Corr

Related Correlations Analysis

	FCSCX	GVPIX	BBSXX	HCUSX	RGVAX	SSAGX
FCSCX		0.83	0.0	0.92	0.97	0.97	FCSCX
GVPIX	0.83		0.0	0.94	0.91	0.8	GVPIX
BBSXX	0.0	0.0		0.0	0.0	0.0	BBSXX
HCUSX	0.92	0.94	0.0		0.98	0.9	HCUSX
RGVAX	0.97	0.91	0.0	0.98		0.95	RGVAX
SSAGX	0.97	0.8	0.0	0.9	0.95		SSAGX
	FCSCX	GVPIX	BBSXX	HCUSX	RGVAX	SSAGX

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

RGVAX	+ 0.98	HCUSX
RGVAX	+ 0.97	FCSCX
SSAGX	+ 0.97	FCSCX
SSAGX	+ 0.95	RGVAX
HCUSX	+ 0.94	GVPIX
HCUSX	+ 0.92	FCSCX

High negative correlations

SSAGX	- 0.0	BBSXX
RGVAX	- 0.0	BBSXX
HCUSX	- 0.0	BBSXX
BBSXX	- 0.0	GVPIX
BBSXX	- 0.0	FCSCX

Risk-Adjusted Indicators

There is a big difference between Johnson Mutual Fund performing well and Johnson Equity 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 Johnson Equity'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
FCSCX	0.05	0.00	(0.47)	(0.02)	0.00	(0.20)	0.13	(0.13)	0.53
GVPIX	0.63	0.02	(0.05)	0.24	0.64	(0.71)	1.58	(0.97)	3.28
BBSXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HCUSX	0.21	0.01	(0.23)	0.15	0.17	(0.28)	0.47	(0.35)	1.40
RGVAX	0.20	0.01	(0.23)	0.43	0.11	(0.25)	0.50	(0.34)	1.43
SSAGX	0.04	0.01	0.00	(0.64)	0.00	0.00	0.10	0.00	0.51

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