Jpmorgan Equity Correlations

HLEIX Fund

USD 95.46 0.74 0.78%

The current 90-days correlation between Jpmorgan Equity Index and Artisan International Explorer is 0.44 (i.e., Very weak diversification). The correlation of Jpmorgan Equity 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 Equity Correlation With Market

Poor diversification

The correlation between Jpmorgan Equity Index and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jpmorgan Equity Index 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 Index. 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 gross domestic product.

Moving together with Jpmorgan Mutual Fund

1.0	VTSAX	Vanguard Total Stock	Pair Corr
1.0	VFIAX	Vanguard 500 Index	Pair Corr
1.0	VTSMX	Vanguard Total Stock	Pair Corr
1.0	VITSX	Vanguard Total Stock	Pair Corr
1.0	VSMPX	Vanguard Total Stock	Pair Corr
1.0	VSTSX	Vanguard Total Stock	Pair Corr
1.0	VFINX	Vanguard 500 Index	Pair Corr
1.0	VINIX	Vanguard Institutional	Pair Corr
1.0	VIIIX	Vanguard Institutional	Pair Corr
0.64	IBM	International Business	Pair Corr
0.63	CAT	Caterpillar	Pair Corr
0.63	CVX	Chevron Corp	Pair Corr

Moving against Jpmorgan Mutual Fund

0.39

TRV

The Travelers Companies

Pair Corr

Related Correlations Analysis

	ARDBX	ADGAX	TBLDX	PAGLX	LGLSX	LMUSX
ARDBX		0.98	0.98	0.54	0.56	0.52	ARDBX
ADGAX	0.98		0.99	0.54	0.57	0.54	ADGAX
TBLDX	0.98	0.99		0.5	0.53	0.5	TBLDX
PAGLX	0.54	0.54	0.5		0.98	0.99	PAGLX
LGLSX	0.56	0.57	0.53	0.98		0.99	LGLSX
LMUSX	0.52	0.54	0.5	0.99	0.99		LMUSX
	ARDBX	ADGAX	TBLDX	PAGLX	LGLSX	LMUSX

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Risk-Adjusted Indicators

There is a big difference between Jpmorgan Mutual Fund performing well and Jpmorgan Equity 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 Equity'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
ARDBX	0.43	0.13	(0.06)	0.80	0.04	(0.54)	1.23	(0.81)	2.52
ADGAX	0.56	0.11	0.04	0.40	0.00	(0.69)	1.38	(0.80)	4.76
TBLDX	0.24	0.04	(0.28)	0.38	0.00	(0.30)	0.60	(0.39)	1.88
PAGLX	0.48	0.25	0.04	(1.94)	0.00	(0.55)	1.54	(0.80)	3.67
LGLSX	0.95	0.21	0.18	0.42	0.58	(1.09)	2.88	(1.50)	6.12
LMUSX	0.61	0.08	0.08	0.30	0.29	(0.76)	1.85	(0.82)	4.81

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