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Correlation Between Janus Henderson and American Funds

Analyzing existing cross correlation between Janus Henderson Global Select F and American Funds Capital World. You can compare the effects of market volatilities on Janus Henderson and American Funds and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Janus Henderson with a short position of American Funds. Check out your portfolio center. Please also check ongoing floating volatility patterns of Janus Henderson and American Funds.

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Diversification Opportunities for Janus Henderson and American Funds

Janus Henderson Global Select  diversification synergy
0.39
JOR
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Weak diversification

The 3 months correlation between Janus and American is 0.39. Overlapping area represents the amount of risk that can be diversified away by holding Janus Henderson Global Select and American Funds Capital World in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on American Funds Capital and Janus Henderson is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Janus Henderson Global Select F are associated (or correlated) with American Funds. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of American Funds Capital has no effect on the direction of Janus Henderson i.e. Janus Henderson and American Funds go up and down completely randomly.

Pair Corralation between Janus Henderson and American Funds

Assuming 30 trading days horizon, Janus Henderson is expected to generate 3.65 times less return on investment than American Funds. In addition to that, Janus Henderson is 1.45 times more volatile than American Funds Capital World. It trades about 0.02 of its total potential returns per unit of risk. American Funds Capital World is currently generating about 0.08 per unit of volatility. If you would invest  5,107  in American Funds Capital World on January 22, 2020 and sell it today you would earn a total of  193.00  from holding American Funds Capital World or generate 3.78% return on investment over 30 days.
Time Period3 Months [change]
DirectionMoves Together 
StrengthVery Weak
Accuracy96.77%
ValuesDaily Returns

Janus Henderson Global Select   vs.  American Funds Capital World

 Performance (%) 
    
  Timeline 
Janus Henderson Global 
11

Risk-Adjusted Fund Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Janus Henderson Global Select F are ranked lower than 1 (%) of all funds and portfolios of funds over the last 30 days. Inspite fairly strong basic indicators, Janus Henderson is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.
American Funds Capital 
55

Risk-Adjusted Fund Performance

Compared to the overall equity markets, risk-adjusted returns on investments in American Funds Capital World are ranked lower than 5 (%) of all funds and portfolios of funds over the last 30 days. Inspite fairly strong basic indicators, American Funds is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.

Janus Henderson and American Funds Volatility Contrast

 Predicted Return Density 
    
  Returns 
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