Jpmorgan Hedged Correlations

Mutual Funds . USA . 
Fund . Jpmorgan Hedged Equity
JHQDX Fund  USD 18.46  0.16  0.87%   
The current 90-days correlation between Jpmorgan Hedged Equity and Pnc International Growth is 0.65 (i.e., Poor 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 0.72 (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 unemployment.

Moving together with JPMorgan Mutual Fund

  0.8SRJIX Jpmorgan SmartretirementPairCorr
  0.8SRJQX Jpmorgan SmartretirementPairCorr
  0.81SRJPX Jpmorgan SmartretirementPairCorr
  0.8SRJSX Jpmorgan SmartretirementPairCorr
  0.8SRJYX Jpmorgan SmartretirementPairCorr
  0.81SRJZX Jpmorgan SmartretirementPairCorr
  0.82SRJCX Jpmorgan SmartretirementPairCorr
  0.68SRJAX Jpmorgan SmartretirementPairCorr
  0.85OSGCX Jpmorgan Small CapPairCorr
  0.88OSGIX Jpmorgan Mid CapPairCorr
  0.78JPBRX Jpmorgan SmartretirementPairCorr
  0.66JPDVX Jpmorgan DiversifiedPairCorr
  0.83JPGSX Jpmorgan Intrepid GrowthPairCorr
  0.82JPHAX Jpmorgan Floating RatePairCorr
  0.81JPHCX Jpmorgan Floating RatePairCorr
  0.79JPIVX Jpmorgan Intrepid ValuePairCorr
  0.84OSVCX Jpmorgan Small CapPairCorr
  0.82JPHSX Jpmorgan Floating RatePairCorr
  0.84JPHRX Jpmorgan Floating RatePairCorr
  0.91JPPEX Jpmorgan Mid CapPairCorr
  0.8JPRRX Jpmorgan SmartretirementPairCorr
  0.88JPTBX Jpmorgan Smartretirement*PairCorr
  0.79JPTKX Jpmorgan SmartretirementPairCorr
  0.8JPTLX Jpmorgan SmartretirementPairCorr
  0.79JPSRX Jpmorgan Smartretirement*PairCorr
  0.78JPYRX Jpmorgan Smartretirement*PairCorr

Moving against JPMorgan Mutual Fund

  0.37OSTCX Jpmorgan Short DurationPairCorr
  0.34OBBCX Jpmorgan Mortgage-backedPairCorr
  0.36JPVRX Jpmorgan InternationalPairCorr
  0.31PGBOX Jpmorgan E BondPairCorr

Related Correlations Analysis

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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   
GCIGX
+ 0.86
PIGDX
CDGCX
+ 0.67
GCIGX
TAAEX
+ 0.67
LMLRX
LMLRX
+ 0.64
PIGDX
CDGCX
+ 0.6
LMLRX
LMLRX
+ 0.59
GCIGX
  
High negative correlations   
TAAEX
- 0.0
GCIGX

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.

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