Janus Enterprise Correlations

CJEAX Fund

USD 30.01 0.19 0.63%

The current 90-days correlation between Janus Enterprise 529 and Vanguard Total Stock is 0.71 (i.e., Poor diversification). The correlation of Janus Enterprise 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 Enterprise Correlation With Market

Poor diversification

The correlation between Janus Enterprise 529 and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Janus Enterprise 529 and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Janus Enterprise 529. 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

0.96	VTSAX	Vanguard Total Stock	Pair Corr
0.95	VFIAX	Vanguard 500 Index	Pair Corr
0.96	VTSMX	Vanguard Total Stock	Pair Corr
0.96	VITSX	Vanguard Total Stock	Pair Corr
0.96	VSTSX	Vanguard Total Stock	Pair Corr
0.96	VSMPX	Vanguard Total Stock	Pair Corr
0.95	VFINX	Vanguard 500 Index	Pair Corr
0.95	VFFSX	Vanguard 500 Index	Pair Corr
0.67	FAQTX	American Funds 2035	Pair Corr
0.89	JVLIX	John Hancock Disciplined	Pair Corr
0.98	LAWAX	Ladenburg Aggressive	Pair Corr
0.93	AMCPX	Amcap Fund Class	Pair Corr
0.93	QBNAX	Pear Tree Polaris Potential Growth	Pair Corr
0.82	AGTHX	Growth Fund	Pair Corr
0.93	FESMX	First Eagle Smid	Pair Corr
0.92	ADNIX	Amer Beacon Ark	Pair Corr
0.94	SSIAX	1919 Socially Responsive	Pair Corr
0.92	PHJBX	Principal Lifetime Hybrid	Pair Corr
0.82	WUSTX	Wells Fargo Ultra	Pair Corr
0.94	NOIEX	Northern Income Equity	Pair Corr
0.88	UIGIX	Growth Income	Pair Corr
0.8	FGB	First Trust Specialty	Pair Corr
0.66	FSNVX	Fidelity Freedom 2040	Pair Corr
0.96	AOFYX	Alger Small Cap	Pair Corr
0.94	CILGX	Clarkston Fund Insti	Pair Corr
0.96	CNSAX	Invesco Vertible Sec	Pair Corr
0.93	AMCFX	Amcap Fund Class	Pair Corr
0.82	CPRSX	Clarion Partners Real	Pair Corr
0.66	PSTWX	Smallcap Value	Pair Corr
0.97	FMIUX	Common Stock	Pair Corr
0.75	VFORX	Vanguard Target Reti	Pair Corr
0.87	GAB	Gabelli Equity Trust	Pair Corr

Moving against Janus Mutual Fund

0.58	NHS	Neuberger Berman High	Pair Corr
0.51	VGTSX	Vanguard Total Inter	Pair Corr
0.49	VTIAX	Vanguard Total Inter	Pair Corr

Related Correlations Analysis

	VTSAX	VFIAX	VTSMX	VITSX	VSTSX	VSMPX	VFINX	VFFSX	VGTSX	VTIAX
VTSAX		1.0	1.0	1.0	1.0	1.0	1.0	1.0	-0.58	-0.55	VTSAX
VFIAX	1.0		1.0	1.0	1.0	1.0	1.0	1.0	-0.56	-0.52	VFIAX
VTSMX	1.0	1.0		1.0	1.0	1.0	1.0	1.0	-0.58	-0.55	VTSMX
VITSX	1.0	1.0	1.0		1.0	1.0	1.0	1.0	-0.58	-0.55	VITSX
VSTSX	1.0	1.0	1.0	1.0		1.0	1.0	1.0	-0.58	-0.55	VSTSX
VSMPX	1.0	1.0	1.0	1.0	1.0		1.0	1.0	-0.58	-0.55	VSMPX
VFINX	1.0	1.0	1.0	1.0	1.0	1.0		1.0	-0.56	-0.52	VFINX
VFFSX	1.0	1.0	1.0	1.0	1.0	1.0	1.0		-0.56	-0.52	VFFSX
VGTSX	-0.58	-0.56	-0.58	-0.58	-0.58	-0.58	-0.56	-0.56		0.93	VGTSX
VTIAX	-0.55	-0.52	-0.55	-0.55	-0.55	-0.55	-0.52	-0.52	0.93		VTIAX
	VTSAX	VFIAX	VTSMX	VITSX	VSTSX	VSMPX	VFINX	VFFSX	VGTSX	VTIAX

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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

VFIAX	+ 1.0	VTSAX
VTSMX	+ 1.0	VTSAX
VITSX	+ 1.0	VTSAX
VSTSX	+ 1.0	VTSAX
VSMPX	+ 1.0	VTSAX
VFINX	+ 1.0	VTSAX

High negative correlations

VGTSX	- 0.58	VSMPX
VGTSX	- 0.58	VSTSX
VGTSX	- 0.58	VITSX
VGTSX	- 0.58	VTSMX
VGTSX	- 0.58	VTSAX
VGTSX	- 0.56	VFFSX

Risk-Adjusted Indicators

There is a big difference between Janus Mutual Fund performing well and Janus Enterprise 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 Enterprise'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
VTSAX	0.50	0.05	0.06	0.16	0.44	(0.56)	0.98	(0.94)	4.11
VFIAX	0.47	0.05	0.04	0.16	0.43	(0.50)	0.97	(0.93)	3.84
VTSMX	0.50	0.05	0.06	0.16	0.44	(0.56)	0.98	(0.94)	4.11
VITSX	0.50	0.05	0.06	0.16	0.44	(0.56)	0.98	(0.94)	4.11
VSTSX	0.50	0.05	0.06	0.16	0.44	(0.56)	0.98	(0.94)	4.11
VSMPX	0.50	0.05	0.06	0.16	0.43	(0.56)	0.98	(0.94)	4.11
VFINX	0.47	0.05	0.04	0.16	0.43	(0.50)	0.97	(0.93)	3.84
VFFSX	0.47	0.05	0.04	0.16	0.43	(0.50)	0.97	(0.93)	3.84
VGTSX	0.57	(0.03)	0.00	0.73	0.00	0.00	1.15	(1.04)	4.09
VTIAX	0.57	(0.04)	0.00	(0.05)	0.00	0.00	1.15	(1.01)	4.11

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