Janus Short Correlations

JSHAX Fund

USD 2.89 0.01 0.35%

The current 90-days correlation between Janus Short Term and Blackrock Inflation Protected is 0.48 (i.e., Very weak diversification). The correlation of Janus Short 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.

Janus Short Correlation With Market

Significant diversification

The correlation between Janus Short Term Bond and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Janus Short Term Bond 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 Janus Short Term Bond. 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 nation.

Moving together with Janus Mutual Fund

0.89	JRAAX	Janus Research	Pair Corr
0.89	JRACX	Janus Research	Pair Corr
0.89	JRASX	Janus Research	Pair Corr
0.91	JABCX	Janus Balanced	Pair Corr
0.88	JRSDX	Intech Managed Volatility	Pair Corr
0.88	JRSCX	Intech Managed Volatility	Pair Corr
0.88	JRSIX	Intech Managed Volatility	Pair Corr
0.88	JRSSX	Intech Managed Volatility	Pair Corr
0.92	JACNX	Janus Contrarian	Pair Corr
0.91	JACTX	Janus Forty Fund	Pair Corr
0.89	JADFX	Janus Flexible Bond	Pair Corr
0.9	JADGX	Janus Growth And	Pair Corr
0.91	JABLX	Balanced Portfolio	Pair Corr
0.91	JABNX	Janus Balanced	Pair Corr
0.91	JABRX	Janus Balanced	Pair Corr
0.91	JACCX	Janus Forty Fund	Pair Corr
0.87	JAENX	Janus Enterprise	Pair Corr
0.9	JAFIX	Janus Flexible Bond	Pair Corr
0.89	JAFLX	Flexible Bond Portfolio	Pair Corr
0.9	JAGTX	Janus Global Technology	Pair Corr
0.89	JAGCX	Janus Global Technology	Pair Corr
0.9	JAGIX	Janus Growth And	Pair Corr
0.92	JAHYX	Janus High Yield	Pair Corr
0.87	JANEX	Janus Enterprise	Pair Corr
0.9	JANIX	Janus Triton	Pair Corr
0.88	JANRX	Janus Global Select	Pair Corr
0.89	JAMRX	Janus Research	Pair Corr
0.87	JSCOX	Perkins Small Cap	Pair Corr
0.91	JARTX	Janus Forty Fund	Pair Corr
0.96	JASBX	Janus Short Term	Pair Corr
0.9	JATNX	Janus Henderson Global	Pair Corr
0.95	JSHCX	Janus Short Term	Pair Corr
0.89	JATSX	Janus Global Technology	Pair Corr
0.9	JATTX	Janus Triton	Pair Corr
0.89	JATAX	Janus Global Technology	Pair Corr
0.9	JATIX	Janus Global Technology	Pair Corr
0.9	JAVTX	Janus Venture	Pair Corr
0.88	JSLNX	Janus Henderson Global	Pair Corr

Related Correlations Analysis

	BPRAX	FEPAX	TLRAX	ELGAX	MGIAX
BPRAX		0.93	0.89	-0.44	0.67	BPRAX
FEPAX	0.93		0.97	-0.45	0.69	FEPAX
TLRAX	0.89	0.97		-0.54	0.51	TLRAX
ELGAX	-0.44	-0.45	-0.54		0.07	ELGAX
MGIAX	0.67	0.69	0.51	0.07		MGIAX
	BPRAX	FEPAX	TLRAX	ELGAX	MGIAX

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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

TLRAX	+ 0.97	FEPAX
FEPAX	+ 0.93	BPRAX
TLRAX	+ 0.89	BPRAX
MGIAX	+ 0.69	FEPAX
MGIAX	+ 0.67	BPRAX
MGIAX	+ 0.51	TLRAX

High negative correlations

ELGAX	- 0.54	TLRAX
ELGAX	- 0.45	FEPAX
ELGAX	- 0.44	BPRAX

Risk-Adjusted Indicators

There is a big difference between Janus Mutual Fund performing well and Janus Short 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 Short'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
BPRAX	0.23	0.02	(0.30)	0.72	0.18	(0.28)	0.53	(0.53)	1.38
FEPAX	0.23	0.01	(0.35)	0.26	0.19	(0.27)	0.43	(0.42)	1.07
TLRAX	0.24	0.00	(0.34)	0.21	0.24	(0.27)	0.43	(0.53)	1.08
ELGAX	1.14	(0.17)	(0.03)	0.00	4.67	(0.90)	2.37	(1.60)	25.48
MGIAX	0.50	0.11	0.05	0.42	0.27	(0.58)	1.13	(0.82)	2.72

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