Jpmorgan Correlations

JUECX Fund

USD 23.03 0.39 1.67%

The current 90-days correlation between Jpmorgan Equity and Allianzgi Small Cap Blend is 0.57 (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

Very weak diversification

The correlation between Jpmorgan Equity Fund and DJI is 0.42 (i.e., Very weak 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 main economic indicators.

Moving together with Jpmorgan Mutual Fund

0.68	SRJIX	Jpmorgan Smartretirement	Pair Corr
0.67	SRJQX	Jpmorgan Smartretirement	Pair Corr
0.67	SRJPX	Jpmorgan Smartretirement	Pair Corr
0.68	SRJSX	Jpmorgan Smartretirement	Pair Corr
0.67	SRJYX	Jpmorgan Smartretirement	Pair Corr
0.68	SRJZX	Jpmorgan Smartretirement	Pair Corr
0.68	SRJCX	Jpmorgan Smartretirement	Pair Corr
0.68	SRJAX	Jpmorgan Smartretirement	Pair Corr
0.69	JPDVX	Jpmorgan Diversified	Pair Corr
0.97	JPGSX	Jpmorgan Intrepid Growth	Pair Corr
0.9	JPIVX	Jpmorgan Intrepid Value	Pair Corr
0.95	JPPEX	Jpmorgan Mid Cap	Pair Corr
0.81	OCGCX	Jpmorgan Investor	Pair Corr
0.72	PGSGX	Jpmorgan Small Cap	Pair Corr
0.69	JAKSX	Jpmorgan Smartretirement	Pair Corr

Related Correlations Analysis

	AZBAX	TRMNX	IAAEX	UAPIX	ABYSX	RYAGX	RRMGX
AZBAX		0.72	0.92	0.96	0.91	-0.26	0.92	AZBAX
TRMNX	0.72		0.61	0.82	0.72	-0.44	0.74	TRMNX
IAAEX	0.92	0.61		0.85	0.89	-0.24	0.88	IAAEX
UAPIX	0.96	0.82	0.85		0.92	-0.42	0.93	UAPIX
ABYSX	0.91	0.72	0.89	0.92		-0.55	0.99	ABYSX
RYAGX	-0.26	-0.44	-0.24	-0.42	-0.55		-0.56	RYAGX
RRMGX	0.92	0.74	0.88	0.93	0.99	-0.56		RRMGX
	AZBAX	TRMNX	IAAEX	UAPIX	ABYSX	RYAGX	RRMGX

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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

RRMGX	+ 0.99	ABYSX
UAPIX	+ 0.96	AZBAX
RRMGX	+ 0.93	UAPIX
IAAEX	+ 0.92	AZBAX
RRMGX	+ 0.92	AZBAX
ABYSX	+ 0.92	UAPIX

High negative correlations

RRMGX	- 0.56	RYAGX
RYAGX	- 0.55	ABYSX
RYAGX	- 0.44	TRMNX
RYAGX	- 0.42	UAPIX
RYAGX	- 0.26	AZBAX
RYAGX	- 0.24	IAAEX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
AZBAX	0.96	(0.22)	0.00	(0.31)	0.00	0.00	1.50	(1.63)	14.22
TRMNX	0.90	(0.06)	0.00	(0.10)	0.00	0.00	1.63	(1.60)	6.11
IAAEX	0.67	(0.13)	0.00	(0.49)	0.00	0.00	1.10	(1.08)	9.17
UAPIX	1.69	(0.25)	0.00	(0.16)	0.00	0.00	3.23	(3.17)	12.42
ABYSX	0.90	(0.23)	0.00	(0.30)	0.00	0.00	1.43	(1.63)	13.38
RYAGX	1.26	0.18	0.06	0.38	2.75	(1.42)	1.48	(1.39)	39.49
RRMGX	0.82	(0.21)	0.00	(0.33)	0.00	0.00	1.22	(2.00)	11.90

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