Janus Global Correlations

Mutual Funds . USA . 
Fund . Janus Global Research
JWWCX Fund  USD 118.70  0.01  0.01%   
The current 90-days correlation between Janus Global Research and Janus Global Research is 1.0 (i.e., No risk reduction). 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.

Janus Global Correlation With Market

Very poor diversification

The correlation between Janus Global Research and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Janus Global Research 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 Global Research. 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 main economic indicators.

Moving together with Janus Mutual Fund

  1.0JANWX Janus Global ResearchPairCorr
  1.0JDWAX Janus Global ResearchPairCorr
  0.66JWGRX Janus Global ResearchPairCorr
  0.67FNFPX American Funds NewPairCorr
  0.67FFPNX American Funds NewPairCorr
  0.68NPFCX New PerspectivePairCorr
  0.76ANWPX New PerspectivePairCorr
  0.76NPFFX New PerspectivePairCorr
  0.67CNPAX New PerspectivePairCorr
  0.67CNPEX New PerspectivePairCorr
  0.67CNPFX New PerspectivePairCorr
  0.76CNPCX New PerspectivePairCorr
  0.68RNPAX New PerspectivePairCorr
  0.71CPAYX Columbia Pacific/asiaPairCorr
  0.73MSKLX Mid Cap GrowthPairCorr
  0.76CISGX Touchstone Sands CapitalPairCorr
  0.73MPEGX Mid Cap GrowthPairCorr
  0.65BRWBX Mfs Blended ResearchPairCorr
  0.78GQLOX Gmo Quality FundPairCorr
  0.62VVICX Voya Vacs IndexPairCorr
  0.87BTFRX Bts Tactical FixedPairCorr
  0.63MLOZX Cohen Steers MlpPairCorr
  0.99AMECX Income FundPairCorr
  0.67QRPRX Aqr Alternative RiskPairCorr
  0.67RSSYX Victory Rs SelectPairCorr
  0.96MCFAX Miller Vertible BondPairCorr
  1.0VFIAX Vanguard 500 IndexPairCorr
  0.67JTSYX Jpmorgan SmartretirementPairCorr
  0.66VSZBX Voya Index SolutionPairCorr
  0.65PAXWX Pax BalancedPairCorr
  1.0MAGEX Mfs Growth AllocationPairCorr
  0.99FIJKX Fidelity Advisor FreedomPairCorr
  0.72FRIEX Federated Hermes EmergingPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There 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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
JANWX  0.60  0.14  0.13  0.30  0.37 
(0.67)
 1.83 
(1.29)
 3.94 
JDWAX  0.60  0.13  0.13  0.30  0.37 
(0.65)
 1.83 
(1.28)
 3.95 
JWGRX  0.54  0.27  0.23  9.74  0.00 
(0.63)
 1.56 
(0.65)
 3.95 
JWWCX  0.60  0.13  0.13  0.29  0.38 
(0.68)
 1.83 
(1.29)
 3.93 
QCELX  0.61  0.29  0.29  4.47  0.00 
(0.78)
 1.81 
(0.73)
 4.81 
FCPCX  0.55  0.22  0.14  6.21  0.12 
(0.63)
 1.51 
(1.04)
 3.84 
FGUAX  0.06  0.01 (1.09) 0.95  0.00 
(0.16)
 0.10 
(0.10)
 0.52 
MMMSX  0.83  0.26  0.12 (9.80) 0.74 
(1.04)
 2.26 
(1.24)
 6.58 
PXCCX  0.21  0.07 (0.16) 27.95  0.00 
(0.28)
 0.46 
(0.45)
 1.63 
SSDWX  0.47  0.12  0.10  0.32  0.26 
(0.54)
 1.64 
(1.13)
 3.18 

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