JP Morgan Correlations

JDIV Etf

USD 48.40 0.12 0.25%

The current 90-days correlation between JP Morgan Exchange and Strategy Shares is 0.16 (i.e., Average 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

Very weak diversification

The correlation between JP Morgan Exchange Traded and DJI is 0.55 (i.e., Very weak 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

0.92	GCOW	Pacer Global Cash Low Volatility	Pair Corr
0.82	DGT	SPDR Global Dow	Pair Corr
0.91	DEW	WisdomTree Global High	Pair Corr
0.94	WLDR	Affinity World Leaders	Pair Corr
0.78	ASET	FlexShares Real Assets	Pair Corr
0.68	HERD	Pacer Cash Cows	Pair Corr
0.98	FPAG	Northern Lights	Pair Corr
0.67	VTI	Vanguard Total Stock	Pair Corr
0.66	SPY	SPDR SP 500	Pair Corr
0.66	IVV	iShares Core SP	Pair Corr
0.64	BND	Vanguard Total Bond	Pair Corr
0.9	VTV	Vanguard Value Index	Pair Corr
0.75	VO	Vanguard Mid Cap	Pair Corr
0.82	VEA	Vanguard FTSE Developed	Pair Corr
0.65	CQQQ	Invesco China Technology	Pair Corr
0.76	KLXY	KraneShares Trust	Pair Corr

Moving against JDIV Etf

0.33

PFIX

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Pair Corr

Related Correlations Analysis

	DHSB	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG
DHSB		-0.03	-0.12	-0.17	0.02	0.09	-0.1	-0.12	-0.04	DHSB
MBOX	-0.03		0.48	0.37	-0.04	0.52	0.91	0.85	0.89	MBOX
DIEM	-0.12	0.48		0.78	-0.37	0.23	0.47	0.64	0.33	DIEM
MCHI	-0.17	0.37	0.78		-0.25	0.01	0.52	0.72	0.28	MCHI
DIPS	0.02	-0.04	-0.37	-0.25		0.16	-0.04	-0.07	-0.04	DIPS
DISO	0.09	0.52	0.23	0.01	0.16		0.39	0.25	0.52	DISO
DIVB	-0.1	0.91	0.47	0.52	-0.04	0.39		0.91	0.92	DIVB
DIVD	-0.12	0.85	0.64	0.72	-0.07	0.25	0.91		0.74	DIVD
DIVG	-0.04	0.89	0.33	0.28	-0.04	0.52	0.92	0.74		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	+ 0.92	DIVB
DIVB	+ 0.91	MBOX
DIVD	+ 0.91	DIVB
DIVG	+ 0.89	MBOX
DIVD	+ 0.85	MBOX
MCHI	+ 0.78	DIEM

High negative correlations

DIPS	- 0.37	DIEM
DIPS	- 0.25	MCHI
MCHI	- 0.17	DHSB
DIVD	- 0.12	DHSB
DIEM	- 0.12	DHSB
DIVB	- 0.1	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	0.27	(0.10)	0.00	(1.96)	0.00	0.00	0.32	(0.64)	0.96
MBOX	0.59	0.01	0.01	0.26	0.83	(0.60)	1.06	(1.06)	4.74
DIEM	0.56	0.04	0.05	(0.58)	0.74	(0.60)	1.34	(1.67)	4.44
MCHI	1.31	0.21	0.13	2.44	1.44	(1.45)	2.57	(2.33)	12.27
DIPS	1.84	0.02	0.01	0.31	2.77	(1.67)	2.92	(3.59)	23.89
DISO	0.73	(0.02)	0.00	(0.81)	0.00	0.00	1.41	(1.37)	3.42
DIVB	0.53	0.02	0.02	0.04	0.67	(0.56)	1.01	(0.89)	3.96
DIVD	0.51	0.07	0.10	2.53	0.56	(0.55)	0.88	(0.78)	3.20
DIVG	0.51	(0.01)	(0.02)	(0.02)	0.68	(0.51)	1.01	(1.13)	3.31

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