Jpmorgan Mid Correlations

JMVYX Fund

USD 35.83 0.16 0.44%

The current 90-days correlation between Jpmorgan Mid Cap and Prudential Short Duration is -0.17 (i.e., Good diversification). The correlation of Jpmorgan Mid 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 Mid Correlation With Market

Significant diversification

The correlation between Jpmorgan Mid Cap and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jpmorgan Mid Cap 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 Mid Cap. 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 manufacturing.

Moving together with Jpmorgan Mutual Fund

0.92	FLPKX	Fidelity Low Priced	Pair Corr
0.92	FLPSX	Fidelity Low Priced	Pair Corr
0.73	VMVAX	Vanguard Mid Cap	Pair Corr
0.99	JVMAX	John Hancock Disciplined	Pair Corr
0.99	JVMIX	John Hancock Disciplined	Pair Corr
0.94	VMVIX	Vanguard Mid Cap	Pair Corr
1.0	JMVZX	Jpmorgan Mid Cap	Pair Corr
1.0	JMVRX	Jpmorgan Mid Cap	Pair Corr
1.0	JMVQX	Jpmorgan Mid Cap	Pair Corr
0.73	GPMFX	Guidepath Managed Futures	Pair Corr
0.83	BAC	Bank of America	Pair Corr
0.8	JPM	JPMorgan Chase	Pair Corr
0.87	AXP	American Express	Pair Corr

Moving against Jpmorgan Mutual Fund

0.77	GAAKX	Gmo Alternative Allo	Pair Corr
0.77	GAAGX	Gmo Alternative Allo	Pair Corr
0.51	GPBFX	Gmo E Plus	Pair Corr
0.53	VZ	Verizon Communications	Pair Corr
0.47	JNJ	Johnson Johnson	Pair Corr
0.39	KO	Coca Cola	Pair Corr

Related Correlations Analysis

	HYSZX	AHYMX	GHVIX	NMHYX	ARTFX
HYSZX		0.91	0.96	0.94	0.97	HYSZX
AHYMX	0.91		0.88	0.85	0.88	AHYMX
GHVIX	0.96	0.88		0.99	0.96	GHVIX
NMHYX	0.94	0.85	0.99		0.96	NMHYX
ARTFX	0.97	0.88	0.96	0.96		ARTFX
	HYSZX	AHYMX	GHVIX	NMHYX	ARTFX

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Risk-Adjusted Indicators

There is a big difference between Jpmorgan Mutual Fund performing well and Jpmorgan Mid 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 Mid'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
HYSZX	0.13	0.02	0.38	0.12	0.00	(0.22)	0.48	(0.24)	1.08
AHYMX	0.12	0.00	0.29	(0.08)	0.13	(0.18)	0.22	(0.33)	0.76
GHVIX	0.16	0.01	0.31	0.04	0.16	(0.17)	0.30	(0.35)	1.01
NMHYX	0.12	0.01	0.32	0.05	0.09	(0.16)	0.24	(0.24)	0.95
ARTFX	0.13	0.01	0.34	0.02	0.09	(0.20)	0.44	(0.22)	0.89

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