Johnson Enhanced Correlations

Mutual Funds . USA . 
Fund . Johnson Enhanced Return
JENHX Fund  USD 18.25  0.11  0.61%   
The current 90-days correlation between Johnson Enhanced Return and Invesco Disciplined Equity is 0.82 (i.e., Very poor diversification). The correlation of Johnson Enhanced 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 Enhanced Correlation With Market

Poor diversification

The correlation between Johnson Enhanced Return and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Johnson Enhanced Return 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 Enhanced Return. 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 rate.

Moving together with Johnson Mutual Fund

  0.7JCPLX Johnson Core PlusPairCorr
  0.78JEQIX Johnson Equity IncomePairCorr
  0.68JEQSX Johnson Equity IncomePairCorr
  0.67JIBEX Johnson InstitutionalPairCorr
  0.79JIMDX Johnson InstitutionalPairCorr
  0.61JIMFX Johnson InstitutionalPairCorr
  0.96JINTX Johnson InternationalPairCorr
  0.78JOPPX Johnson OpportunityPairCorr
  0.63JOSSX Johnson OpportunityPairCorr
  0.68VTSAX Vanguard Total StockPairCorr
  0.68VFIAX Vanguard 500 IndexPairCorr
  0.68VTSMX Vanguard Total StockPairCorr
  0.67VITSX Vanguard Total StockPairCorr
  0.68VSMPX Vanguard Total StockPairCorr
  0.68VSTSX Vanguard Total StockPairCorr
  0.68VFINX Vanguard 500 IndexPairCorr
  0.69VFFSX Vanguard 500 IndexPairCorr
  0.68VINIX Vanguard InstitutionalPairCorr
  0.68VIIIX Vanguard InstitutionalPairCorr
  0.67DXQLX Direxion Monthly NasdaqPairCorr
  0.69RYVLX Nasdaq 100 2xPairCorr
  0.68RYVYX Nasdaq 100 2xPairCorr
  0.68UOPIX Ultra Nasdaq 100PairCorr
  0.68RYCCX Nasdaq 100 2xPairCorr
  0.68UOPSX Ultranasdaq 100 ProfundPairCorr
  0.62INPIX Internet UltrasectorPairCorr
  0.63INPSX Internet UltrasectorPairCorr
  0.63VWEHX Vanguard High YieldPairCorr
  0.95EMBYX Unconstrained EmergingPairCorr
  0.68FRA Blackrock Floating RatePairCorr
  0.62MGHRX Morgan Stanley Insti Steady GrowthPairCorr
  0.69NEEIX Needham GrowthPairCorr
  0.62RBNNX Robinson OpportunisticPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Johnson Mutual Fund performing well and Johnson Enhanced 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 Enhanced'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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