Janus High-yield Correlations

JHYAX Fund

USD 7.41 0.01 0.14%

The current 90-days correlation between Janus High Yield and Columbia Income Opportunities is 0.04 (i.e., Significant diversification). The correlation of Janus High-yield 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-yield Correlation With Market

Very weak diversification

The correlation between Janus High Yield Fund and DJI is 0.5 (i.e., Very 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 nation.

Moving together with Janus Mutual Fund

0.99	VWEAX	Vanguard High Yield	Pair Corr
0.99	VWEHX	Vanguard High Yield	Pair Corr
1.0	BHYCX	Blackrock Hi Yld	Pair Corr
1.0	BHYIX	Blackrock High Yield	Pair Corr
0.62	BHYSX	Blackrock Hi Yld	Pair Corr
0.9	BHYAX	Blackrock High Yield	Pair Corr
0.96	FAHHX	American Funds American	Pair Corr
0.96	FTAHX	American Funds American	Pair Corr
0.97	AHTFX	American High Income	Pair Corr
0.96	AHTCX	American High Income	Pair Corr
0.66	SMPIX	Semiconductor Ultrasector	Pair Corr
0.67	SMPSX	Semiconductor Ultrasector	Pair Corr
0.65	RSNRX	Victory Global Natural	Pair Corr
0.65	RSNYX	Victory Global Natural	Pair Corr
0.64	RGNCX	Victory Global Natural	Pair Corr
0.91	RIVKX	American Funds Inter	Pair Corr
0.95	FDEGX	Fidelity Growth Stra	Pair Corr
0.63	JPM	JPMorgan Chase	Pair Corr
0.65	CAT	Caterpillar	Pair Corr
0.64	CSCO	Cisco Systems	Pair Corr
0.68	IBM	International Business	Pair Corr

Moving against Janus Mutual Fund

0.65	MCD	McDonalds	Pair Corr
0.42	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	AIOAX	FDBAX	ASRAX	JHNBX	EVFHX
AIOAX		0.82	0.69	0.73	0.87	AIOAX
FDBAX	0.82		0.7	0.97	0.79	FDBAX
ASRAX	0.69	0.7		0.63	0.83	ASRAX
JHNBX	0.73	0.97	0.63		0.7	JHNBX
EVFHX	0.87	0.79	0.83	0.7		EVFHX
	AIOAX	FDBAX	ASRAX	JHNBX	EVFHX

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Risk-Adjusted Indicators

There is a big difference between Janus Mutual Fund performing well and Janus High-yield 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-yield'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	0.13	0.05	(0.93)	(33.61)	0.00	(0.21)	0.46	(0.22)	0.91
FDBAX	0.20	0.01	(0.69)	0.42	0.10	(0.24)	0.37	(0.36)	0.97
ASRAX	0.43	0.01	(0.17)	0.25	0.57	(0.46)	0.99	(0.86)	3.13
JHNBX	0.24	0.01	(0.60)	0.48	0.18	(0.29)	0.46	(0.37)	1.14
EVFHX	0.09	0.03	(1.35)	0.78	0.00	(0.21)	0.35	(0.12)	0.70

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