Jpmorgan Floating Correlations

Mutual Funds . USA . 
Fund . Jpmorgan Floating Rate
JPHRX Fund  USD 8.29  0.01  0.12%   
The current 90-days correlation between Jpmorgan Floating Rate and American Century High is -0.01 (i.e., Good diversification). The correlation of Jpmorgan Floating 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 Floating Correlation With Market

Weak diversification

The correlation between Jpmorgan Floating Rate and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jpmorgan Floating Rate 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 Floating Rate. 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

  0.68SRJIX Jpmorgan SmartretirementPairCorr
  0.69SRJQX Jpmorgan SmartretirementPairCorr
  0.69SRJPX Jpmorgan SmartretirementPairCorr
  0.69SRJSX Jpmorgan SmartretirementPairCorr
  0.68SRJYX Jpmorgan SmartretirementPairCorr
  0.7SRJZX Jpmorgan SmartretirementPairCorr
  0.7SRJCX Jpmorgan SmartretirementPairCorr
  0.63SRJAX Jpmorgan SmartretirementPairCorr
  0.74OSGIX Jpmorgan Mid CapPairCorr
  0.66JPBRX Jpmorgan SmartretirementPairCorr
  0.62JPDVX Jpmorgan DiversifiedPairCorr
  0.64JPGSX Jpmorgan Intrepid GrowthPairCorr
  0.93JPHAX Jpmorgan Floating RatePairCorr
  0.9JPHCX Jpmorgan Floating RatePairCorr
  0.75JPIVX Jpmorgan Intrepid ValuePairCorr
  0.69OSVCX Jpmorgan Small CapPairCorr
  0.94JPHSX Jpmorgan Floating RatePairCorr
  0.79JPPEX Jpmorgan Mid CapPairCorr
  0.67JPRRX Jpmorgan SmartretirementPairCorr
  0.72JPTBX Jpmorgan Smartretirement*PairCorr
  0.66JPTKX Jpmorgan SmartretirementPairCorr
  0.66JPTLX Jpmorgan SmartretirementPairCorr
  0.65JPYRX Jpmorgan Smartretirement*PairCorr
  0.74PGSGX Jpmorgan Small CapPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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