JPMorgan ETFs Correlations

JUKC Etf

3,267 2.70 0.08%

The current 90-days correlation between JPMorgan ETFs ICAV and JPMorgan ETFs ICAV is 0.5 (i.e., Very weak diversification). The correlation of JPMorgan ETFs 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 ETFs Correlation With Market

Very weak diversification

The correlation between JPMorgan ETFs ICAV and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding JPMorgan ETFs ICAV and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to JPMorgan ETFs could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace JPMorgan ETFs when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back JPMorgan ETFs - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling JPMorgan ETFs ICAV to buy it.

Moving together with JPMorgan Etf

0.7	INFU	Lyxor 10Y Inflation	Pair Corr
0.68	NGAS	WisdomTree Natural Gas	Pair Corr
0.95	XD5D	db x trackers	Pair Corr
0.96	EUXS	iShares MSCI Europe	Pair Corr
0.78	ANRJ	Amundi ETF MSCI	Pair Corr
0.94	XZ2G	Xtrackers ESG USD	Pair Corr
0.92	FHYG	Fidelity Sustainable	Pair Corr
0.85	FLXB	Franklin FTSE Brazil	Pair Corr
0.74	CORP	iShares Global Corp	Pair Corr
0.83	CSH2	Multi Units Luxembourg	Pair Corr
0.79	KWEB	KraneShares CSI China	Pair Corr
0.72	GEDV	SPDR SP Global	Pair Corr
0.68	3SPP	GraniteShares 3x Short	Pair Corr
0.81	ESGP	AuAg ESG Gold	Pair Corr
0.95	BUYB	Invesco Global Buyback	Pair Corr

Moving against JPMorgan Etf

0.44	XLKQ	Invesco Technology	Pair Corr
0.4	XLKS	Invesco Technology	Pair Corr
0.34	XDWT	Xtrackers MSCI World	Pair Corr
0.34	WTEC	SSgA SPDR ETFs	Pair Corr

Related Correlations Analysis

	JREJ	BBEG	JGNR	JRBU	J15R	JRUP	JREU	JUKC	JMBA
JREJ		0.0	-0.14	-0.44	0.29	0.84	-0.25	0.79	0.86	JREJ
BBEG	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	BBEG
JGNR	-0.14	0.0		0.81	0.44	-0.11	0.46	0.36	-0.04	JGNR
JRBU	-0.44	0.0	0.81		-0.06	-0.35	0.68	0.02	-0.33	JRBU
J15R	0.29	0.0	0.44	-0.06		0.3	-0.38	0.48	0.38	J15R
JRUP	0.84	0.0	-0.11	-0.35	0.3		-0.39	0.79	0.98	JRUP
JREU	-0.25	0.0	0.46	0.68	-0.38	-0.39		-0.08	-0.38	JREU
JUKC	0.79	0.0	0.36	0.02	0.48	0.79	-0.08		0.85	JUKC
JMBA	0.86	0.0	-0.04	-0.33	0.38	0.98	-0.38	0.85		JMBA
	JREJ	BBEG	JGNR	JRBU	J15R	JRUP	JREU	JUKC	JMBA

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

JMBA	+ 0.98	JRUP
JMBA	+ 0.86	JREJ
JMBA	+ 0.85	JUKC
JRUP	+ 0.84	JREJ
JRBU	+ 0.81	JGNR
JUKC	+ 0.79	JREJ

High negative correlations

JRBU	- 0.44	JREJ
JREU	- 0.39	JRUP
JMBA	- 0.38	JREU
JREU	- 0.38	J15R
JRUP	- 0.35	JRBU
JMBA	- 0.33	JRBU

JPMorgan ETFs Constituents Risk-Adjusted Indicators

There is a big difference between JPMorgan Etf performing well and JPMorgan ETFs ETF 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 ETFs' 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
JREJ	0.81	0.07	0.08	0.21	1.04	(0.77)	2.09	(1.68)	4.89
BBEG	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
JGNR	0.24	(0.01)	0.08	(0.27)	0.34	(0.23)	0.49	(0.56)	1.73
JRBU	0.39	(0.02)	0.00	(0.19)	0.00	0.00	0.68	(1.02)	2.53
J15R	0.19	0.02	0.21	0.47	0.16	(0.21)	0.42	(0.36)	1.25
JRUP	0.28	0.01	0.10	0.03	0.36	(0.30)	0.60	(0.55)	1.76
JREU	0.79	(0.07)	0.00	(0.19)	0.00	0.00	1.40	(2.06)	5.00
JUKC	0.47	0.08	0.17	0.23	0.50	(0.49)	1.17	(1.14)	3.11
JMBA	0.27	0.02	0.12	0.12	0.37	(0.25)	0.55	(0.54)	1.74

Be your own money manager

Our tools can tell you how much better you can do entering a position in JPMorgan ETFs without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Equity Analysis Now

Equity Analysis

Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC