Jpmorgan Correlations

Mutual Funds . USA . 
Fund . Jpmorgan Equity Fund
JMUEX Fund  USD 23.84  0.04  0.17%   
The current 90-days correlation between Jpmorgan Equity and Massachusetts Investors Trust is 0.51 (i.e., Very weak diversification). The correlation of Jpmorgan 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 Correlation With Market

Poor diversification

The correlation between Jpmorgan Equity Fund 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 Equity Fund 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 Equity Fund. 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 income.

Moving together with Jpmorgan Mutual Fund

  0.61SRJCX Jpmorgan SmartretirementPairCorr
  0.97OSGIX Jpmorgan Mid CapPairCorr
  0.98JPGSX Jpmorgan Intrepid GrowthPairCorr
  0.79JPHAX Jpmorgan Floating RatePairCorr
  0.83JPHCX Jpmorgan Floating RatePairCorr
  0.96OSVCX Jpmorgan Small CapPairCorr
  0.71JPHRX Jpmorgan Floating RatePairCorr
  0.7JPTBX Jpmorgan Smartretirement*PairCorr
  0.96PGSGX Jpmorgan Small CapPairCorr

Moving against Jpmorgan Mutual Fund

  0.68OSTCX Jpmorgan Short DurationPairCorr
  0.63OBBCX Jpmorgan Mortgage-backedPairCorr
  0.6OBOCX Jpmorgan E BondPairCorr
  0.59JPVZX Jpmorgan InternationalPairCorr
  0.56OBDCX Jpmorgan E PlusPairCorr
  0.36JPDIX Jpmorgan Preferred AndPairCorr
  0.36JPDRX Jpmorgan Preferred AndPairCorr
  0.34JPDAX Jpmorgan Preferred AndPairCorr
  0.34JPDCX Jpmorgan Preferred AndPairCorr
  0.64JSDHX Jpmorgan Short DurationPairCorr
  0.64JSDRX Jpmorgan Short DurationPairCorr
  0.61PGBOX Jpmorgan E BondPairCorr
  0.32EMREX Jpmorgan Trust IvPairCorr
  0.32EMRSX 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   
MRSIX
+ 0.9
HLLVX
MRSIX
+ 0.9
OHYFX
OHYFX
+ 0.85
HLLVX
VSNGX
+ 0.59
MITIX
  
High negative correlations   
HLLVX
- 0.56
VSNGX
HLLVX
- 0.45
MITIX
MRSIX
- 0.32
VSNGX
MRSIX
- 0.14
MITIX
OHYFX
- 0.12
VSNGX
OHYFX
- 0.07
MITIX

Risk-Adjusted Indicators

There is a big difference between Jpmorgan Mutual Fund performing well and Jpmorgan 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'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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