| JNSMX Fund | | | USD 13.79 0.08 0.58% |
The current 90-days correlation between Janus Global Allocation and Cref Money Market is 0.18 (i.e., Average 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.
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.
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| SMAAX | | QCMMIX | | JRSXX | | QCMMIX | | ICAXX | | QCMMIX | | FMFXX | | QCMMIX | | JRSXX | | SMAAX | | ICAXX | | SMAAX |
| | High negative correlations| FMFXX | | ICAXX | | FMFXX | | JRSXX | | ICAXX | | JRSXX | | FMFXX | | SMAAX | | ICAXX | | SMAAX | | JRSXX | | SMAAX |
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Risk-Adjusted IndicatorsThere 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.