Undiscovered Managers Correlations

UBVAX Fund

USD 77.83 1.34 1.69%

The current 90-days correlation between Undiscovered Managers and Jpmorgan Value Advantage is 0.91 (i.e., Almost no diversification). The correlation of Undiscovered Managers 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.

Undiscovered Managers Correlation With Market

Very poor diversification

The correlation between Undiscovered Managers Behavior and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Undiscovered Managers Behavior and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Undiscovered Managers Behavioral. 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 nation.

Moving together with Undiscovered Mutual Fund

0.94	OSGIX	Jpmorgan Mid Cap	Pair Corr
0.66	JAAYX	Jpmorgan Smartretirement	Pair Corr
0.7	JAKZX	Jpmorgan Smartretirement	Pair Corr
0.68	JAKYX	Jpmorgan Smartretirement	Pair Corr
0.67	JSAQX	Jpmorgan Smartretirement	Pair Corr
0.68	JSAPX	Jpmorgan Smartretirement	Pair Corr
0.66	JSAYX	Jpmorgan Smartretirement	Pair Corr
0.98	JAMCX	Jpmorgan Mid Cap	Pair Corr
0.91	JSCZX	Jpmorgan Small Pany	Pair Corr
0.98	JSERX	Jpmorgan Small Cap	Pair Corr
0.95	JSGZX	Jpmorgan Small Cap	Pair Corr
0.92	JSVRX	Jpmorgan Small Cap	Pair Corr
0.91	SEEGX	Jpmorgan Large Cap	Pair Corr
0.69	JTSQX	Jp Morgan Smartretirement	Pair Corr
0.69	JTSSX	Jpmorgan Smartretirement	Pair Corr
0.69	JTSIX	Jpmorgan Smartretirement	Pair Corr
0.68	JTTUX	Jpmorgan Smartretirement*	Pair Corr

Moving against Undiscovered Mutual Fund

0.6	OBOCX	Jpmorgan E Bond	Pair Corr
0.58	JPVZX	Jpmorgan International	Pair Corr
0.57	JSOSX	Jpmorgan Strategic Income	Pair Corr
0.49	JPDIX	Jpmorgan Preferred And	Pair Corr
0.62	HLGAX	Jpmorgan Government Bond	Pair Corr
0.61	JCBZX	Jpmorgan E Bond	Pair Corr
0.59	JCPYX	Jpmorgan E Plus	Pair Corr
0.33	JEMDX	Jpmorgan Emerging Markets	Pair Corr

Related Correlations Analysis

	JVAAX	VHIAX	OIEIX	JCMAX	UBVLX
JVAAX		0.62	0.96	0.77	0.76	JVAAX
VHIAX	0.62		0.42	0.96	0.88	VHIAX
OIEIX	0.96	0.42		0.59	0.59	OIEIX
JCMAX	0.77	0.96	0.59		0.93	JCMAX
UBVLX	0.76	0.88	0.59	0.93		UBVLX
	JVAAX	VHIAX	OIEIX	JCMAX	UBVLX

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Risk-Adjusted Indicators

There is a big difference between Undiscovered Mutual Fund performing well and Undiscovered Managers 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 Undiscovered Managers' 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
JVAAX	0.63	0.04	0.06	(0.01)	0.78	(0.66)	1.20	(1.22)	3.62
VHIAX	1.16	(0.11)	0.00	(0.14)	0.00	0.00	2.01	(2.67)	6.40
OIEIX	0.63	0.06	0.08	0.01	0.76	(0.69)	1.30	(1.21)	3.59
JCMAX	0.76	(0.04)	0.00	(0.09)	0.00	0.00	1.42	(1.82)	3.79
UBVLX	0.80	(0.01)	0.00	0.27	0.00	0.00	1.62	(1.80)	3.56

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