Jpmorgan Small Correlations

OSVCX Fund

USD 15.85 0.14 0.88%

The current 90-days correlation between Jpmorgan Small Cap and Schwab Health Care is -0.03 (i.e., Good diversification). The correlation of Jpmorgan Small 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 Small Correlation With Market

Good diversification

The correlation between Jpmorgan Small Cap and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jpmorgan Small Cap and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Jpmorgan Small 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 main economic indicators.

Moving together with Jpmorgan Mutual Fund

0.98	OSGIX	Jpmorgan Mid Cap	Pair Corr
0.64	JAAYX	Jpmorgan Smartretirement	Pair Corr
0.68	JAKZX	Jpmorgan Smartretirement	Pair Corr
0.66	JAKYX	Jpmorgan Smartretirement	Pair Corr
0.65	JSAQX	Jpmorgan Smartretirement	Pair Corr
0.65	JSAPX	Jpmorgan Smartretirement	Pair Corr
0.64	JSAYX	Jpmorgan Smartretirement	Pair Corr
0.96	JAMCX	Jpmorgan Mid Cap	Pair Corr
0.65	JSAAX	Jpmorgan Smartretirement	Pair Corr
0.99	JSCZX	Jpmorgan Small Pany	Pair Corr
0.99	JSERX	Jpmorgan Small Cap	Pair Corr
0.99	JSGZX	Jpmorgan Small Cap	Pair Corr
1.0	JSVRX	Jpmorgan Small Cap	Pair Corr
0.76	SEEGX	Jpmorgan Large Cap	Pair Corr
0.66	JTSSX	Jpmorgan Smartretirement	Pair Corr
0.67	JTSAX	Jpmorgan Smartretirement	Pair Corr
0.65	JTTUX	Jpmorgan Smartretirement*	Pair Corr

Moving against Jpmorgan Mutual Fund

0.67	OBOCX	Jpmorgan E Bond	Pair Corr
0.67	JSOSX	Jpmorgan Strategic Income	Pair Corr
0.48	JPVZX	Jpmorgan International	Pair Corr
0.44	JPDIX	Jpmorgan Preferred And	Pair Corr
0.69	HLGAX	Jpmorgan Government Bond	Pair Corr
0.66	JCPYX	Jpmorgan E Plus	Pair Corr
0.61	JCBZX	Jpmorgan E Bond	Pair Corr
0.43	JEMDX	Jpmorgan Emerging Markets	Pair Corr

Related Correlations Analysis

	SWHFX	BHSRX	GTHCX	SHSAX	BGHDX	HGHYX	DLRHX
SWHFX		0.76	0.72	0.76	0.31	0.54	0.83	SWHFX
BHSRX	0.76		0.85	1.0	-0.13	0.88	0.92	BHSRX
GTHCX	0.72	0.85		0.85	0.34	0.87	0.74	GTHCX
SHSAX	0.76	1.0	0.85		-0.13	0.88	0.92	SHSAX
BGHDX	0.31	-0.13	0.34	-0.13		-0.02	-0.11	BGHDX
HGHYX	0.54	0.88	0.87	0.88	-0.02		0.75	HGHYX
DLRHX	0.83	0.92	0.74	0.92	-0.11	0.75		DLRHX
	SWHFX	BHSRX	GTHCX	SHSAX	BGHDX	HGHYX	DLRHX

Click cells to compare fundamentals

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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

SHSAX	+ 1.0	BHSRX
DLRHX	+ 0.92	BHSRX
DLRHX	+ 0.92	SHSAX
HGHYX	+ 0.88	BHSRX
HGHYX	+ 0.88	SHSAX
HGHYX	+ 0.87	GTHCX

High negative correlations

BGHDX	- 0.13	SHSAX
BGHDX	- 0.13	BHSRX
DLRHX	- 0.11	BGHDX
HGHYX	- 0.02	BGHDX

Risk-Adjusted Indicators

There is a big difference between Jpmorgan Mutual Fund performing well and Jpmorgan Small 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 Small'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
SWHFX	0.72	0.00	0.00	(0.07)	0.00	0.00	1.29	(1.22)	7.88
BHSRX	0.63	0.06	0.12	0.04	0.72	(0.70)	1.32	(0.96)	3.74
GTHCX	0.82	(0.08)	0.00	(0.18)	0.00	0.00	1.26	(1.69)	9.65
SHSAX	0.63	0.06	0.12	0.04	0.71	(0.70)	1.33	(0.95)	3.73
BGHDX	0.02	(0.02)	0.00	(1.44)	0.00	0.00	0.00	0.00	0.35
HGHYX	0.69	0.02	0.00	(0.03)	0.00	0.00	1.41	(1.25)	4.37
DLRHX	0.63	0.06	0.12	0.06	0.75	(0.76)	1.30	(1.24)	3.41

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