Hennessy Japan Correlations
| HJPSX Fund | USD 17.36 0.05 0.29% |
The current 90-days correlation between Hennessy Japan Small and Hennessy Japan Fund is 0.85 (i.e., Very poor diversification). The correlation of Hennessy Japan 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.
Hennessy Japan Correlation With Market
Weak diversification
The correlation between Hennessy Japan Small and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hennessy Japan Small and DJI in the same portfolio, assuming nothing else is changed.
Hennessy |
Moving together with Hennessy Mutual Fund
| 0.8 | HJPIX | Hennessy Japan | PairCorr |
| 0.8 | HJPNX | Hennessy Japan | PairCorr |
| 1.0 | HJSIX | Hennessy Japan Small | PairCorr |
| 0.73 | RJAIX | T Rowe Price | PairCorr |
| 0.72 | FJPNX | Fidelity Japan | PairCorr |
| 0.89 | DFJSX | Japanese Small Pany | PairCorr |
| 0.72 | FIQLX | Fidelity Japan | PairCorr |
| 0.82 | MJFOX | Matthews Japan | PairCorr |
| 0.82 | MIJFX | Matthews Japan | PairCorr |
| 0.88 | PRJPX | T Rowe Price | PairCorr |
| 0.84 | FJSCX | Fidelity Japan Smaller | PairCorr |
| 0.8 | FSJPX | Fidelity Sai Japan | PairCorr |
| 0.72 | FJPIX | Fidelity Japan | PairCorr |
Moving against Hennessy Mutual Fund
| 0.38 | HILFX | Hennessy Large Cap | PairCorr |
| 0.38 | HLFNX | Hennessy Large Cap | PairCorr |
| 0.48 | PYARX | Payden Absolute Return | PairCorr |
| 0.47 | PYAIX | Payden Absolute Return | PairCorr |
| 0.46 | FTCAX | Templeton Strained Bond | PairCorr |
| 0.33 | THLCX | Thrivent Large Cap | PairCorr |
| 0.32 | BCAAX | Brandywineglobal C | PairCorr |
| 0.31 | HGASX | Hennessy Gas Utility | PairCorr |
Related Correlations Analysis
| 1.0 | 0.71 | -0.23 | 0.8 | HJPNX | ||
| 1.0 | 0.7 | -0.22 | 0.8 | HJPIX | ||
| 0.71 | 0.7 | -0.34 | 0.5 | WAINX | ||
| -0.23 | -0.22 | -0.34 | -0.33 | MGGPX | ||
| 0.8 | 0.8 | 0.5 | -0.33 | HJSIX | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Hennessy Mutual Fund performing well and Hennessy Japan 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 Hennessy Japan'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| HJPNX | 1.11 | (0.17) | 0.00 | (0.06) | 0.00 | 1.83 | 8.08 | |||
| HJPIX | 1.11 | (0.17) | 0.00 | (0.06) | 0.00 | 1.84 | 8.11 | |||
| WAINX | 0.73 | (0.01) | (0.12) | (0.10) | 0.93 | 1.48 | 4.61 | |||
| MGGPX | 0.69 | 0.10 | 0.07 | 0.24 | 0.69 | 1.55 | 4.39 | |||
| HJSIX | 0.79 | (0.08) | 0.00 | (0.06) | 0.00 | 1.55 | 6.06 |