JP Morgan Correlations

JDIV Etf

USD 48.03 0.11 0.23%

The current 90-days correlation between JP Morgan Exchange and Strategy Shares is 0.38 (i.e., Weak diversification). The correlation of JP Morgan 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.

JP Morgan Correlation With Market

Poor diversification

The correlation between JP Morgan Exchange Traded and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding JP Morgan Exchange Traded and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in JP Morgan Exchange Traded. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with JDIV Etf

0.69	GCOW	Pacer Global Cash	Pair Corr
0.94	DGT	SPDR Global Dow	Pair Corr
0.84	DEW	WisdomTree Global High	Pair Corr
0.61	WLDR	Affinity World Leaders	Pair Corr
0.88	ASET	FlexShares Real Assets	Pair Corr
0.91	FPAG	Northern Lights	Pair Corr
0.67	BABX	GraniteShares 175x Long	Pair Corr
0.74	GDXU	MicroSectors Gold Miners	Pair Corr
0.67	XPP	ProShares Ultra FTSE	Pair Corr
0.71	JNUG	Direxion Daily Junior	Pair Corr
0.66	KO	Coca Cola Sell-off Trend	Pair Corr
0.76	T	ATT Inc Aggressive Push	Pair Corr
0.93	GE	GE Aerospace	Pair Corr
0.62	CVX	Chevron Corp	Pair Corr
0.7	DD	Dupont De Nemours	Pair Corr

Moving against JDIV Etf

0.51	WTID	UBS ETRACS Upward Rally	Pair Corr
0.43	PFIX	Simplify Interest Rate	Pair Corr
0.78	MRK	Merck Company	Pair Corr
0.39	AA	Alcoa Corp	Pair Corr
0.39	MSFT	Microsoft Aggressive Push	Pair Corr

Related Correlations Analysis

	DHSB	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG
DHSB		-0.13	-0.08	-0.04	0.1	-0.01	-0.11	-0.05	-0.09	DHSB
MBOX	-0.13		0.34	0.16	-0.29	0.4	0.93	0.37	0.84	MBOX
DIEM	-0.08	0.34		0.87	0.15	-0.41	0.51	0.78	0.64	DIEM
MCHI	-0.04	0.16	0.87		0.48	-0.55	0.45	0.92	0.6	MCHI
DIPS	0.1	-0.29	0.15	0.48		-0.54	-0.03	0.54	0.09	DIPS
DISO	-0.01	0.4	-0.41	-0.55	-0.54		0.26	-0.52	0.04	DISO
DIVB	-0.11	0.93	0.51	0.45	-0.03	0.26		0.62	0.95	DIVB
DIVD	-0.05	0.37	0.78	0.92	0.54	-0.52	0.62		0.75	DIVD
DIVG	-0.09	0.84	0.64	0.6	0.09	0.04	0.95	0.75		DIVG
	DHSB	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG

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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

DIVG	+ 0.95	DIVB
DIVB	+ 0.93	MBOX
DIVD	+ 0.92	MCHI
MCHI	+ 0.87	DIEM
DIVG	+ 0.84	MBOX
DIVD	+ 0.78	DIEM

High negative correlations

DISO	- 0.55	MCHI
DISO	- 0.54	DIPS
DIVD	- 0.52	DISO
DISO	- 0.41	DIEM
DIPS	- 0.29	MBOX
MBOX	- 0.13	DHSB

JP Morgan Constituents Risk-Adjusted Indicators

There is a big difference between JDIV Etf performing well and JP Morgan ETF 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 JP Morgan'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
DHSB	0.37	(0.06)	0.00	(0.20)	0.00	0.00	0.82	(0.74)	1.68
MBOX	0.70	(0.02)	0.00	(0.02)	0.00	0.00	1.27	(1.40)	3.06
DIEM	0.69	0.03	0.03	0.06	0.88	(0.73)	1.43	(1.89)	4.39
MCHI	1.36	0.23	0.15	0.56	1.44	(1.60)	2.63	(2.72)	7.91
DIPS	2.25	0.10	0.03	(0.08)	2.68	(2.50)	5.35	(4.43)	23.78
DISO	0.90	(0.13)	0.00	(0.17)	0.00	0.00	1.47	(2.12)	6.61
DIVB	0.66	0.01	0.01	0.02	0.87	(0.66)	1.16	(1.40)	3.13
DIVD	0.58	0.12	0.17	0.24	0.62	(0.67)	1.39	(0.95)	3.39
DIVG	0.60	0.01	0.02	0.03	0.76	(0.63)	1.20	(1.18)	3.06

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