Janus Global Correlations

Mutual Funds . USA . 
Fund . Janus Global Technology
JAGCX Fund  USD 55.17  0.18  0.33%   
The current 90-days correlation between Janus Global Technology and Allianzgi Health Sciences is 0.76 (i.e., Poor diversification). The correlation of Janus Global 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 Global Correlation With Market

Very good diversification

The correlation between Janus Global Technology and DJI is -0.33 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Janus Global Technology 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 Global Technology. 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 main economic indicators.

Moving together with Janus Mutual Fund

  0.66VVPR VivoPower International Upward RallyPairCorr
  0.95DBD Diebold Nixdorf,PairCorr
  0.64OUSTZ Ouster, WarrantsPairCorr
  0.74CYCUW Cycurion, Warrant Symbol ChangePairCorr
  0.73BULLW Webull WarrantsPairCorr
  0.62JNPR Juniper NetworksPairCorr
  0.78MIND Mind TechnologyPairCorr
  0.92HPE-PC Hewlett Packard EntePairCorr
  0.92CORZZ Core Scientific, TranchePairCorr
  0.81RZLVW Rezolve AI LimitedPairCorr
  0.84SATX SatixFy CommunicationsPairCorr
  0.89STRF MicroStrategy IncorporatedPairCorr
  1.0JRAAX Janus ResearchPairCorr
  1.0JRACX Janus ResearchPairCorr
  0.98JRAIX Janus ResearchPairCorr
  0.98JRANX Janus ResearchPairCorr

Moving against Janus Mutual Fund

  0.86HPAIW Helport AI LimitedPairCorr
  0.83VSTE Vast RenewablesPairCorr
  0.77VISL Vislink TechnologiesPairCorr
  0.68EXOD Exodus Movement,PairCorr
  0.61APCXW AppTech Payments CorpPairCorr
  0.38VBIX Viewbix Common StockPairCorr
  0.92SMTK SmartKem, Common StockPairCorr
  0.86NOVA Sunnova Energy InterPairCorr
  0.72APCX Apptech CorpPairCorr
  0.67SLNHP Soluna Holdings Preferred Upward RallyPairCorr
  0.58ODYS Odysightai Common StockPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Janus Mutual Fund performing well and Janus Global 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 Global'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.

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