Janus Henderson Anemoy Treasury Fund vs Spiko EU T-Bills Money Market Fund

Spiko EU T-Bills Money Market Fund (EUTBL) is 5.0× the size of Janus Henderson Anemoy Treasury Fund (JTRSY) by market capitalisation. Over the past 30 days, JTRSY is ahead by 3.3 percentage points (JTRSY +0.0% against EUTBL -3.3%). Their daily returns move barely together (correlation 0.01 across 58 shared trading days). EUTBL has been the more volatile of the two, at 9% annualised against JTRSY's 2%.

Correlation: 0.01
Size ratio: 1 : 5.0
Ahead over 30 days: JTRSY

Janus Henderson Anemoy Treasury FundJTRSY

$1.1200

24h: +0.02%
Market cap: $97.18M
Volume 24h: —
Volatility (ann.): 2%

Spiko EU T-Bills Money Market FundEUTBL

$1.2000

24h: +0.70%
Market cap: $483.14M
Volume 24h: —
Volatility (ann.): 9%

JTRSY 16.7%Share of the two combined market caps83.3% EUTBL

Performance

JTRSYEUTBL

7 days+0.00%+0.85%EUTBL
30 days+0.00%-3.25%JTRSY

Correlation

0.01over 58 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: insufficient data1y: insufficient data

Measured on daily returns rather than on prices. Two assets that both simply trend upward score near 1.0 on raw prices whether or not they move together, so returns are what answer the question people mean by correlation.

Risk & extremes

Metric	JTRSY	EUTBL
Max drawdown (400d)	0.0%	-4.8%
Risk-adjusted return (90d)	0.40	-0.28

Relative strength over 90 days: JTRSY outperformed EUTBL by 3.4% — measured on the JTRSY/EUTBL ratio, so it holds regardless of market direction.

Janus Henderson Anemoy Treasury Fund →Spiko EU T-Bills Money Market Fund →