Janus High-yield Correlations

Mutual Funds . USA . 
Fund . Janus High Yield Fund
JAHYX Fund  USD 7.41  0.01  0.14%   
The current 90-days correlation between Janus High Yield and Janus Research Fund is 0.55 (i.e., Very weak 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 0.53 (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 population.

Moving together with Janus Mutual Fund

  0.87JRAAX Janus ResearchPairCorr
  0.87JRACX Janus ResearchPairCorr
  0.87JRAIX Janus ResearchPairCorr
  0.87JRANX Janus ResearchPairCorr
  0.87JRARX Janus Henderson ResearchPairCorr
  0.87JRASX Janus ResearchPairCorr
  0.9JABAX Janus BalancedPairCorr
  0.91JABCX Janus BalancedPairCorr
  0.91JRSAX Intech Managed VolatilityPairCorr
  0.91JRSDX Intech Managed VolatilityPairCorr
  0.91JRSCX Intech Managed VolatilityPairCorr
  0.91JRSIX Intech Managed VolatilityPairCorr
  0.8JRSNX Intech Managed VolatilityPairCorr
  0.91JRSSX Intech Managed VolatilityPairCorr
  0.8JRSTX Intech Managed VolatilityPairCorr
  0.78JACTX Janus Forty FundPairCorr
  0.78JADGX Janus Growth AndPairCorr
  0.9JABLX Balanced PortfolioPairCorr
  0.9JABNX Janus BalancedPairCorr
  0.9JABRX Janus BalancedPairCorr
  0.86JACAX Forty Portfolio InstPairCorr
  0.77JACCX Janus Forty FundPairCorr
  0.77JAFLX Flexible Bond PortfolioPairCorr
  0.87JAGRX Research PortfolioPairCorr
  0.8JAGTX Janus Global TechnologyPairCorr
  0.8JAGCX Janus Global TechnologyPairCorr
  0.77JAGIX Janus Growth AndPairCorr
  0.79JAIGX Overseas PortfolioPairCorr
  0.9JANBX Janus BalancedPairCorr
  0.81JANFX Janus Flexible BondPairCorr
  0.77JANRX Janus Global SelectPairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
JRAAX  0.72  0.00 (0.01) 0.04  1.07 
(0.67)
 1.32 
(1.65)
 4.42 
JRACX  0.72 (0.01)(0.01) 0.03  1.07 
(0.67)
 1.34 
(1.65)
 4.44 
JRAIX  0.72  0.00  0.00  0.04  1.07 
(0.67)
 1.33 
(1.65)
 4.43 
JRANX  0.72  0.00  0.00  0.04  1.07 
(0.67)
 1.34 
(1.65)
 4.44 
JRARX  0.72 (0.01)(0.01) 0.03  1.07 
(0.67)
 1.33 
(1.65)
 4.43 
JRASX  0.72 (0.01)(0.01) 0.04  1.07 
(0.67)
 1.34 
(1.64)
 4.43 
JAAGX  0.64 (0.05) 0.00  1.13  0.00 
 0.00 
 1.09 
(1.45)
 3.79 
JABAX  0.38  0.01 (0.01) 0.06  0.50 
(0.37)
 0.83 
(0.71)
 2.56 
JABCX  0.38  0.01 (0.01) 0.06  0.50 
(0.36)
 0.83 
(0.71)
 2.54 
JRSAX  0.53  0.00 (0.01) 0.04  0.69 
(0.56)
 1.24 
(0.92)
 3.63 

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