Janus Research Correlations

The correlation of Janus Research 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.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios. 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.

Moving together with Janus Mutual Fund

0.74	DXQLX	Direxion Monthly Nasdaq	Pair Corr
0.73	RYVLX	Nasdaq 100 2x	Pair Corr
0.73	RYVYX	Nasdaq 100 2x	Pair Corr
0.72	UOPIX	Ultra Nasdaq 100	Pair Corr
0.73	RYCCX	Nasdaq 100 2x	Pair Corr
0.71	UOPSX	Ultranasdaq 100 Profund	Pair Corr
0.61	BIPIX	Biotechnology Ultrasector Steady Growth	Pair Corr
0.7	GPICX	Guidepath Conservative	Pair Corr
0.76	IBM	International Business	Pair Corr
0.77	CAT	Caterpillar	Pair Corr
0.73	GE	GE Aerospace	Pair Corr
0.72	INTC	Intel Aggressive Push	Pair Corr

Moving against Janus Mutual Fund

0.77	T	ATT Inc	Pair Corr
0.67	VZ	Verizon Communications	Pair Corr
0.54	HD	Home Depot	Pair Corr
0.44	HPQ	HP Inc Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	VAADX	FSAWX	PCNTX	GCV	XAVKX	PBXIX
VAADX		0.94	0.85	0.94	0.59	0.2	VAADX
FSAWX	0.94		0.64	0.87	0.34	-0.05	FSAWX
PCNTX	0.85	0.64		0.87	0.9	0.51	PCNTX
GCV	0.94	0.87	0.87		0.69	0.18	GCV
XAVKX	0.59	0.34	0.9	0.69		0.56	XAVKX
PBXIX	0.2	-0.05	0.51	0.18	0.56		PBXIX
	VAADX	FSAWX	PCNTX	GCV	XAVKX	PBXIX

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

FSAWX	+ 0.94	VAADX
GCV	+ 0.94	VAADX
XAVKX	+ 0.9	PCNTX
GCV	+ 0.87	FSAWX
GCV	+ 0.87	PCNTX
PCNTX	+ 0.85	VAADX

High negative correlations

PBXIX

- 0.05

FSAWX

Risk-Adjusted Indicators

There is a big difference between Janus Mutual Fund performing well and Janus Research 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 Research'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
VAADX	0.65	0.05	0.05	0.08	0.86	(0.67)	1.16	(1.71)	4.60
FSAWX	0.12	0.04	0.09	0.48	0.00	(0.17)	0.27	(0.17)	1.04
PCNTX	0.61	(0.03)	0.00	(0.02)	0.00	0.00	1.11	(1.51)	4.49
GCV	0.79	0.07	0.05	0.24	0.94	(0.85)	1.49	(1.71)	4.54
XAVKX	0.52	(0.07)	0.00	(0.07)	0.00	0.00	0.77	(1.55)	3.08
PBXIX	0.35	(0.04)	0.00	(0.06)	0.00	0.00	0.64	(0.73)	2.25

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