Johnson Opportunity Correlations

JOSSX Fund

51.47 0.46 0.90%

The current 90-days correlation between Johnson Opportunity and Johnson Core Plus is -0.04 (i.e., Good diversification). The correlation of Johnson Opportunity 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 Opportunity Correlation With Market

Good diversification

The correlation between Johnson Opportunity S and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Johnson Opportunity S 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 Opportunity S. 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 state.

Moving together with Johnson Mutual Fund

0.98	JENHX	Johnson Enhanced Return	Pair Corr
0.97	JEQIX	Johnson Equity Income	Pair Corr
0.97	JEQSX	Johnson Equity Income	Pair Corr
0.71	JINTX	Johnson International	Pair Corr
0.7	JMUNX	Johnson Municipal Income	Pair Corr
1.0	JOPPX	Johnson Opportunity	Pair Corr
0.99	VSMAX	Vanguard Small Cap	Pair Corr
0.99	VSCIX	Vanguard Small Cap	Pair Corr
0.99	VSCPX	Vanguard Small Cap	Pair Corr
0.99	NAESX	Vanguard Small Cap	Pair Corr
0.99	FSSNX	Fidelity Small Cap	Pair Corr
0.99	DFSTX	Us Small Cap	Pair Corr
0.99	PASVX	T Rowe Price	Pair Corr
0.99	PRVIX	T Rowe Price	Pair Corr
0.99	TRZVX	T Rowe Price	Pair Corr
0.99	PRSVX	T Rowe Price	Pair Corr
0.63	TCTGX	Transamerica Cleartrack	Pair Corr
0.62	TDKTX	Cleartrack 2015 Class	Pair Corr
0.63	TCTJX	Transamerica Cleartrack	Pair Corr
0.63	TCSUX	Cleartrack 2020 Class	Pair Corr
0.75	PDI	Pimco Dynamic Income	Pair Corr

Moving against Johnson Mutual Fund

0.7	JIBDX	Johnson Institutional	Pair Corr
0.61	JIMDX	Johnson Institutional	Pair Corr
0.56	JIBEX	Johnson Institutional	Pair Corr
0.56	JIMEX	Johnson Institutional	Pair Corr
0.97	UIPIX	Ultrashort Mid Cap	Pair Corr
0.83	USPSX	Profunds Ultrashort	Pair Corr
0.83	USPIX	Profunds Ultrashort	Pair Corr
0.75	JAJPX	John Hancock Variable	Pair Corr
0.7	LGANX	Loomis Sayles Limited	Pair Corr
0.58	CBHMX	Victory Market Neutral	Pair Corr
0.32	THIQX	Thornburg Limited Term	Pair Corr

Related Correlations Analysis

	JCPLX	JENHX	JEQIX	JEQSX	JIBSX	JIBDX	JIBFX	JIBEX	JIMEX	JIMDX
JCPLX		-0.24	-0.09	-0.09	0.99	0.6	0.98	0.75	0.75	0.51	JCPLX
JENHX	-0.24		0.96	0.96	-0.31	-0.65	-0.28	-0.51	-0.5	-0.53	JENHX
JEQIX	-0.09	0.96		1.0	-0.16	-0.6	-0.15	-0.46	-0.45	-0.53	JEQIX
JEQSX	-0.09	0.96	1.0		-0.16	-0.6	-0.15	-0.46	-0.46	-0.53	JEQSX
JIBSX	0.99	-0.31	-0.16	-0.16		0.61	0.98	0.75	0.76	0.51	JIBSX
JIBDX	0.6	-0.65	-0.6	-0.6	0.61		0.68	0.95	0.95	0.97	JIBDX
JIBFX	0.98	-0.28	-0.15	-0.15	0.98	0.68		0.84	0.84	0.62	JIBFX
JIBEX	0.75	-0.51	-0.46	-0.46	0.75	0.95	0.84		1.0	0.95	JIBEX
JIMEX	0.75	-0.5	-0.45	-0.46	0.76	0.95	0.84	1.0		0.94	JIMEX
JIMDX	0.51	-0.53	-0.53	-0.53	0.51	0.97	0.62	0.95	0.94		JIMDX
	JCPLX	JENHX	JEQIX	JEQSX	JIBSX	JIBDX	JIBFX	JIBEX	JIMEX	JIMDX

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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

JEQSX	+ 1.0	JEQIX
JIMEX	+ 1.0	JIBEX
JIBSX	+ 0.99	JCPLX
JIBFX	+ 0.98	JCPLX
JIBFX	+ 0.98	JIBSX
JIMDX	+ 0.97	JIBDX

High negative correlations

JIBDX	- 0.65	JENHX
JIBDX	- 0.6	JEQSX
JIBDX	- 0.6	JEQIX
JIMDX	- 0.53	JEQSX
JIMDX	- 0.53	JEQIX
JIMDX	- 0.53	JENHX

Risk-Adjusted Indicators

There is a big difference between Johnson Mutual Fund performing well and Johnson Opportunity 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 Opportunity'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
JCPLX	0.30	0.02	0.21	(0.50)	0.34	(0.32)	0.63	(0.47)	1.96
JENHX	1.23	(0.01)	0.03	0.04	1.94	(1.13)	2.24	(2.56)	12.57
JEQIX	0.94	(0.01)	0.04	0.04	1.42	(0.97)	1.66	(2.15)	9.05
JEQSX	0.94	(0.01)	0.04	0.05	1.42	(0.97)	1.63	(2.12)	9.12
JIBSX	0.31	0.01	0.19	(0.37)	0.37	(0.33)	0.63	(0.56)	2.06
JIBDX	0.09	0.01	0.54	(3.38)	0.00	(0.13)	0.20	(0.13)	0.60
JIBFX	0.32	0.02	0.20	(0.52)	0.37	(0.33)	0.70	(0.63)	2.09
JIBEX	0.20	0.03	0.33	(1.08)	0.13	(0.24)	0.41	(0.34)	1.36
JIMEX	0.20	0.02	0.31	(1.23)	0.15	(0.24)	0.47	(0.34)	1.40
JIMDX	0.09	0.02	0.55	(4.80)	0.00	(0.12)	0.20	(0.13)	0.59

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