Jpmorgan California Correlations

JPICX Fund

USD 9.92 0.01 0.10%

The current 90-days correlation between Jpmorgan California Tax and Hennessy Technology Fund is 0.05 (i.e., Significant diversification). The correlation of Jpmorgan California 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 California Correlation With Market

Average diversification

The correlation between Jpmorgan California Tax and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jpmorgan California Tax 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 California Tax. 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 main economic indicators.

Moving together with Jpmorgan Mutual Fund

0.82	JPDAX	Jpmorgan Preferred And	Pair Corr
0.79	JPDCX	Jpmorgan Preferred And	Pair Corr
0.81	JPDIX	Jpmorgan Preferred And	Pair Corr
0.78	JPDRX	Jpmorgan Preferred And	Pair Corr
0.84	OSTAX	Jpmorgan Short-intermedia	Pair Corr
0.63	OSTCX	Jpmorgan Short Duration	Pair Corr
0.85	OSTSX	Jpmorgan Short-intermedia	Pair Corr
0.76	OBBCX	Jpmorgan Mortgage-backed	Pair Corr
0.79	OBDCX	Jpmorgan E Plus	Pair Corr
0.78	OBOCX	Jpmorgan E Bond	Pair Corr

Moving against Jpmorgan Mutual Fund

0.42	OSGCX	Jpmorgan Small Cap	Pair Corr
0.38	JPGSX	Jpmorgan Intrepid Growth	Pair Corr
0.36	OSGIX	Jpmorgan Mid Cap	Pair Corr
0.39	OSVCX	Jpmorgan Small Cap	Pair Corr
0.32	JPPEX	Jpmorgan Mid Cap	Pair Corr
0.42	PGSGX	Jpmorgan Small Cap	Pair Corr

Related Correlations Analysis

	HTECX	WFTIX	WSTRX	BGSCX	WFTDX	TOWTX	TEFQX
HTECX		0.93	0.98	0.95	0.98	0.96	0.79	HTECX
WFTIX	0.93		0.92	0.89	0.94	0.92	0.78	WFTIX
WSTRX	0.98	0.92		0.96	0.96	0.93	0.78	WSTRX
BGSCX	0.95	0.89	0.96		0.93	0.87	0.66	BGSCX
WFTDX	0.98	0.94	0.96	0.93		0.94	0.82	WFTDX
TOWTX	0.96	0.92	0.93	0.87	0.94		0.83	TOWTX
TEFQX	0.79	0.78	0.78	0.66	0.82	0.83		TEFQX
	HTECX	WFTIX	WSTRX	BGSCX	WFTDX	TOWTX	TEFQX

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Risk-Adjusted Indicators

There is a big difference between Jpmorgan Mutual Fund performing well and Jpmorgan California 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 California'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
HTECX	1.14	(0.10)	0.00	(0.09)	0.00	0.00	1.67	(3.14)	5.92
WFTIX	0.93	(0.10)	0.00	0.56	0.00	0.00	1.80	(2.29)	4.88
WSTRX	1.34	(0.10)	0.00	(0.08)	0.00	0.00	2.25	(3.60)	7.04
BGSCX	1.48	(0.16)	0.00	(0.12)	0.00	0.00	2.37	(3.68)	9.08
WFTDX	0.95	(0.09)	0.00	(0.08)	0.00	0.00	1.87	(2.29)	4.98
TOWTX	0.71	(0.07)	0.00	(0.08)	0.00	0.00	1.44	(1.85)	4.10
TEFQX	1.72	0.01	0.01	0.01	2.58	(1.52)	3.08	(3.69)	10.40

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