Jpmorgan Hedged Correlations

Mutual Funds . USA . 
Fund . Jpmorgan Hedged Equity
JHQRX Fund  USD 32.59  0.44  1.37%   
The current 90-days correlation between Jpmorgan Hedged Equity and Nuveen Preferred Securities is 0.35 (i.e., 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 0.62 (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 metropolitan statistical area.

Moving together with Jpmorgan Mutual Fund

  0.61SRJPX Jpmorgan SmartretirementPairCorr
  0.61SRJZX Jpmorgan SmartretirementPairCorr
  0.62SRJCX Jpmorgan SmartretirementPairCorr
  0.82OSGCX Jpmorgan Small CapPairCorr
  0.82OSGIX Jpmorgan Mid CapPairCorr
  0.8JPGSX Jpmorgan Intrepid GrowthPairCorr
  0.82JPHAX Jpmorgan Floating RatePairCorr
  0.84JPHCX Jpmorgan Floating RatePairCorr
  0.81OSVCX Jpmorgan Small CapPairCorr
  0.78JPHSX Jpmorgan Floating RatePairCorr
  0.74JPHRX Jpmorgan Floating RatePairCorr
  0.83JPPEX Jpmorgan Mid CapPairCorr
  0.72JPTBX Jpmorgan Smartretirement*PairCorr

Moving against Jpmorgan Mutual Fund

  0.63OSTCX Jpmorgan Short DurationPairCorr
  0.52OBBCX Jpmorgan Mortgage-backedPairCorr
  0.45OBDCX Jpmorgan E PlusPairCorr
  0.39OSTAX Jpmorgan Short-intermediaPairCorr
  0.36OSTSX Jpmorgan Short-intermediaPairCorr
  0.57JPVRX Jpmorgan InternationalPairCorr
  0.56PGBOX Jpmorgan E BondPairCorr
  0.43OBOCX Jpmorgan E BondPairCorr
  0.37JPVZX Jpmorgan InternationalPairCorr
  0.36STMCX Jpmorgan Short-intermediaPairCorr
  0.34EMRSX Jpmorgan Emerging MarketsPairCorr

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   
JMBUX
+ 0.88
NPSFX
WCMIX
+ 0.81
NPSFX
JMBUX
+ 0.73
WCMIX
JFNNX
+ 0.72
WCMIX
JFNNX
+ 0.63
NPSFX
JFNNX
+ 0.46
JMBUX
  
High negative correlations   
JMBUX
- 0.58
JLGMX
JLGMX
- 0.41
NPSFX
WCMIX
- 0.14
JLGMX

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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