Jpmorgan Equity Correlations

HLIEX Fund

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The current 90-days correlation between Jpmorgan Equity Income and Dunham Porategovernment Bond is -0.08 (i.e., Good 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

Almost no diversification

The correlation between Jpmorgan Equity Income and DJI is 0.97 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jpmorgan Equity Income 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 Income. 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 income.

Moving together with Jpmorgan Mutual Fund

0.97	SRJIX	Jpmorgan Smartretirement	Pair Corr
0.97	SRJQX	Jpmorgan Smartretirement	Pair Corr
0.97	SRJPX	Jpmorgan Smartretirement	Pair Corr
0.97	SRJSX	Jpmorgan Smartretirement	Pair Corr
0.97	SRJYX	Jpmorgan Smartretirement	Pair Corr
0.97	SRJZX	Jpmorgan Smartretirement	Pair Corr
0.97	SRJCX	Jpmorgan Smartretirement	Pair Corr
0.97	SRJAX	Jpmorgan Smartretirement	Pair Corr
0.97	OSGCX	Jpmorgan Small Cap	Pair Corr
0.94	OSGIX	Jpmorgan Mid Cap	Pair Corr
0.96	JPBRX	Jpmorgan Smartretirement	Pair Corr
0.93	JPDAX	Jpmorgan Preferred And	Pair Corr
0.93	JPDCX	Jpmorgan Preferred And	Pair Corr
0.93	JPDIX	Jpmorgan Preferred And	Pair Corr
0.93	JPDRX	Jpmorgan Preferred And	Pair Corr
0.97	JPDVX	Jpmorgan Diversified	Pair Corr
0.94	JPGSX	Jpmorgan Intrepid Growth	Pair Corr
0.77	JPHAX	Jpmorgan Floating Rate	Pair Corr
0.74	JPHCX	Jpmorgan Floating Rate	Pair Corr
0.8	OSTAX	Jpmorgan Short-intermedia	Pair Corr
0.69	OSTCX	Jpmorgan Short Duration	Pair Corr
1.0	JPIVX	Jpmorgan Intrepid Value	Pair Corr
0.98	OSVCX	Jpmorgan Small Cap	Pair Corr
0.78	JPHSX	Jpmorgan Floating Rate	Pair Corr
0.79	JPHRX	Jpmorgan Floating Rate	Pair Corr
0.8	OSTSX	Jpmorgan Short Inter	Pair Corr
0.97	JPPEX	Jpmorgan Mid Cap	Pair Corr
0.97	JPRRX	Jpmorgan Smartretirement	Pair Corr
0.96	JPTBX	Jpmorgan Smartretirement*	Pair Corr
0.96	JPTKX	Jpmorgan Smartretirement*	Pair Corr
0.97	JPTLX	Jpmorgan Smartretirement*	Pair Corr
0.96	JPSRX	Jpmorgan Smartretirement*	Pair Corr
0.89	JPVRX	Jpmorgan International	Pair Corr
0.89	JPVZX	Jpmorgan International	Pair Corr
0.96	JPYRX	Jpmorgan Smartretirement*	Pair Corr
0.94	EMREX	Jpmorgan Trust Iv	Pair Corr

Related Correlations Analysis

	DNCGX	FISAX	SMAAX	PBMXX	TWACX	SWGXX	DPIGX	RYAQX
DNCGX		0.69	0.86	0.32	0.8	0.09	0.83	-0.27	DNCGX
FISAX	0.69		0.72	0.72	0.83	0.43	0.93	0.27	FISAX
SMAAX	0.86	0.72		0.6	0.62	0.14	0.75	0.07	SMAAX
PBMXX	0.32	0.72	0.6		0.4	0.62	0.56	0.67	PBMXX
TWACX	0.8	0.83	0.62	0.4		0.28	0.93	-0.13	TWACX
SWGXX	0.09	0.43	0.14	0.62	0.28		0.39	0.64	SWGXX
DPIGX	0.83	0.93	0.75	0.56	0.93	0.39		0.09	DPIGX
RYAQX	-0.27	0.27	0.07	0.67	-0.13	0.64	0.09		RYAQX
	DNCGX	FISAX	SMAAX	PBMXX	TWACX	SWGXX	DPIGX	RYAQX

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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

DPIGX	+ 0.93	FISAX
DPIGX	+ 0.93	TWACX
SMAAX	+ 0.86	DNCGX
DPIGX	+ 0.83	DNCGX
TWACX	+ 0.83	FISAX
TWACX	+ 0.8	DNCGX

High negative correlations

RYAQX	- 0.27	DNCGX
RYAQX	- 0.13	TWACX

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
DNCGX	0.23	0.00	(0.26)	(0.01)	0.31	(0.26)	0.48	(0.48)	1.60
FISAX	0.05	0.00	(0.72)	(0.01)	0.00	(0.19)	0.13	(0.13)	0.53
SMAAX	0.20	0.01	(0.15)	(0.06)	0.41	(0.22)	0.31	(0.81)	2.16
PBMXX	0.03	0.01	0.00	3.79	0.00	0.00	0.00	0.00	1.01
TWACX	0.10	0.00	(0.59)	0.10	0.07	(0.17)	0.22	(0.22)	0.78
SWGXX	0.03	0.00	0.00	1.36	0.00	0.00	0.00	0.00	1.01
DPIGX	0.09	0.00	(0.60)	0.02	0.05	(0.13)	0.21	(0.21)	0.53
RYAQX	0.74	0.07	(0.05)	(0.64)	0.63	(0.98)	1.76	(1.14)	4.53

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