Johnson Equity Correlations

Mutual Funds . USA . 
Fund . Johnson Equity Income
JEQIX Fund  USD 37.22  0.03  0.08%   
The current 90-days correlation between Johnson Equity Income and Prudential Health Sciences is -0.21 (i.e., Very good diversification). The correlation of Johnson Equity 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 Equity Correlation With Market

Almost no diversification

The correlation between Johnson Equity Income and DJI is 0.96 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Johnson Equity Income 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 Equity Income. 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 gross domestic product.

Moving together with Johnson Mutual Fund

  0.67JCPLX Johnson Core PlusPairCorr
  0.96JENHX Johnson Enhanced ReturnPairCorr
  1.0JEQSX Johnson Equity IncomePairCorr
  0.8JIBDX Johnson InstitutionalPairCorr
  0.7JIBEX Johnson InstitutionalPairCorr
  0.7JIMEX Johnson InstitutionalPairCorr
  0.81JIMDX Johnson InstitutionalPairCorr
  0.97JINTX Johnson InternationalPairCorr
  0.72JMUNX Johnson Municipal IncomePairCorr
  0.97JOPPX Johnson OpportunityPairCorr
  0.97JOSSX Johnson OpportunityPairCorr
  0.96VTSAX Vanguard Total StockPairCorr
  0.98VFIAX Vanguard 500 IndexPairCorr
  0.96VTSMX Vanguard Total StockPairCorr
  0.98VITSX Vanguard Total StockPairCorr
  0.96VSMPX Vanguard Total StockPairCorr
  0.96VSTSX Vanguard Total StockPairCorr
  0.98VFINX Vanguard 500 IndexPairCorr
  0.96VFFSX Vanguard 500 IndexPairCorr
  0.98VINIX Vanguard InstitutionalPairCorr
  0.98VIIIX Vanguard InstitutionalPairCorr
  0.95VGTSX Vanguard Total InterPairCorr
  0.95VTIAX Vanguard Total InterPairCorr
  0.93NPSAX Nuveen Preferred SecPairCorr
  0.96SRJAX Jpmorgan SmartretirementPairCorr
  0.99GNSRX Aberdeen Small CapPairCorr
  0.95NREMX Neuberger Berman EmergingPairCorr
  0.71FREAX Nuveen Real EstatePairCorr
  0.76FRKSX Nuveen Kansas MunicipalPairCorr
  0.81JADBX John Hancock VariablePairCorr
  0.96DFIEX International E EquityPairCorr
  0.98FNCMX Fidelity Nasdaq PositePairCorr
  0.96FXAIX Fidelity 500 IndexPairCorr
  0.96CGFEX Growth FundPairCorr
  0.95MDIZX Mfs InternationalPairCorr
  0.65IMAAX Ivy Apollo MultiPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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