Jpmorgan Hedged Correlations

JHQAX Fund

USD 32.38 0.01 0.03%

The current 90-days correlation between Jpmorgan Hedged Equity and Fidelity Sai Emerging is 0.58 (i.e., Very weak diversification). The correlation of Jpmorgan Hedged 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.

Jpmorgan Hedged Correlation With Market

Poor diversification

The correlation between Jpmorgan Hedged Equity and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jpmorgan Hedged Equity 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 Jpmorgan Hedged Equity. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Jpmorgan Mutual Fund

0.92	OSGCX	Jpmorgan Small Cap	Pair Corr
0.92	OSGIX	Jpmorgan Mid Cap	Pair Corr
0.97	JPGSX	Jpmorgan Intrepid Growth	Pair Corr
0.77	JPHAX	Jpmorgan Floating Rate	Pair Corr
0.82	JPHCX	Jpmorgan Floating Rate	Pair Corr
0.92	OSVCX	Jpmorgan Small Cap	Pair Corr
0.69	JPHSX	Jpmorgan Floating Rate	Pair Corr
0.72	JPHRX	Jpmorgan Floating Rate	Pair Corr
0.92	JPPEX	Jpmorgan Mid Cap	Pair Corr
0.66	JPTBX	Jpmorgan Smartretirement*	Pair Corr

Moving against Jpmorgan Mutual Fund

0.41	JPDIX	Jpmorgan Preferred And	Pair Corr
0.41	JPDRX	Jpmorgan Preferred And	Pair Corr
0.38	JPDAX	Jpmorgan Preferred And	Pair Corr
0.35	JPDCX	Jpmorgan Preferred And	Pair Corr
0.7	OSTCX	Jpmorgan Short Duration	Pair Corr
0.61	OBBCX	Jpmorgan Mortgage-backed	Pair Corr
0.55	OBDCX	Jpmorgan E Plus	Pair Corr
0.47	OSTSX	Jpmorgan Short-intermedia	Pair Corr
0.41	OSTAX	Jpmorgan Short-intermedia	Pair Corr
0.61	JPVRX	Jpmorgan International	Pair Corr
0.61	JPVZX	Jpmorgan International	Pair Corr
0.59	PGBOX	Jpmorgan E Bond	Pair Corr
0.58	OBOCX	Jpmorgan E Bond	Pair Corr
0.48	STMCX	Jpmorgan Short-intermedia	Pair Corr
0.36	EMREX	Jpmorgan Trust Iv	Pair Corr

Related Correlations Analysis

	FGKPX	FSKLX	PQTIX	FSUVX	REEAX
FGKPX		0.37	-0.33	0.58	0.73	FGKPX
FSKLX	0.37		-0.91	0.51	0.82	FSKLX
PQTIX	-0.33	-0.91		-0.64	-0.68	PQTIX
FSUVX	0.58	0.51	-0.64		0.53	FSUVX
REEAX	0.73	0.82	-0.68	0.53		REEAX
	FGKPX	FSKLX	PQTIX	FSUVX	REEAX

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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

REEAX	+ 0.82	FSKLX
REEAX	+ 0.73	FGKPX
FSUVX	+ 0.58	FGKPX
REEAX	+ 0.53	FSUVX
FSUVX	+ 0.51	FSKLX
FSKLX	+ 0.37	FGKPX

High negative correlations

PQTIX	- 0.91	FSKLX
REEAX	- 0.68	PQTIX
FSUVX	- 0.64	PQTIX
PQTIX	- 0.33	FGKPX

Risk-Adjusted Indicators

There is a big difference between Jpmorgan Mutual Fund performing well and Jpmorgan Hedged Mutual Fund 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 Jpmorgan Hedged'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
FGKPX	0.38	0.01	0.06	(0.02)	0.52	(0.39)	0.74	(0.82)	2.37
FSKLX	0.49	0.09	0.17	0.31	0.52	(0.55)	1.11	(0.68)	2.28
PQTIX	0.40	(0.06)	0.00	0.36	0.00	0.00	0.70	(0.76)	3.46
FSUVX	0.59	0.02	0.04	(0.01)	0.78	(0.58)	1.06	(1.21)	2.85
REEAX	0.73	0.04	0.06	0.06	0.88	(0.79)	1.47	(1.50)	5.72

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