Johnson Opportunity Correlations
| JOPPX Fund | USD 53.20 0.11 0.21% |
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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Johnson Opportunity moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Johnson Opportunity Fund moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Almost no diversification
The correlation between Johnson Opportunity Fund and NYA is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Johnson Opportunity Fund and NYA in the same portfolio, assuming nothing else is changed.
Johnson |
The ability to find closely correlated positions to Johnson Opportunity could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Johnson Opportunity when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Johnson Opportunity - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Johnson Opportunity Fund to buy it.
Moving together with Johnson Mutual Fund
| 0.96 | JENHX | Johnson Enhanced Return | PairCorr |
| 0.92 | JEQIX | Johnson Equity Income | PairCorr |
| 0.77 | JIBDX | Johnson Institutional | PairCorr |
| 0.71 | JIBFX | Johnson Institutional | PairCorr |
| 0.8 | JIBEX | Johnson Institutional | PairCorr |
| 0.78 | JIMDX | Johnson Institutional | PairCorr |
| 0.71 | JIMFX | Johnson Institutional | PairCorr |
| 0.85 | JINTX | Johnson International | PairCorr |
| 0.94 | VIMAX | Vanguard Mid Cap | PairCorr |
| 0.94 | VIMSX | Vanguard Mid Cap | PairCorr |
| 0.86 | VMCPX | Vanguard Mid Cap | PairCorr |
| 0.94 | VMCIX | Vanguard Mid Cap | PairCorr |
| 0.86 | VEXAX | Vanguard Extended Market | PairCorr |
| 0.94 | VEMPX | Vanguard Extended Market | PairCorr |
| 0.94 | VIEIX | Vanguard Extended Market | PairCorr |
| 0.94 | VSEMX | Vanguard Extended Market | PairCorr |
| 0.94 | VEXMX | Vanguard Extended Market | PairCorr |
| 0.94 | FSMAX | Fidelity Extended Market | PairCorr |
Moving against Johnson Mutual Fund
Related Correlations Analysis
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Be your own money manager
Our tools can tell you how much better you can do entering a position in Johnson Opportunity without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Already Invested in Johnson Opportunity Fund?
The danger of trading Johnson Opportunity Fund is mainly related to its market volatility and Mutual Fund specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Johnson Opportunity is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Johnson Opportunity. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Johnson Opportunity is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Johnson Opportunity Fund. Also, note that the market value of any mutual fund could be tightly coupled with the direction of predictive economic indicators such as signals in american community survey. You can also try the AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.