Jpmorgan Smartretirement Correlations

Mutual Funds . USA . 
Fund . Jpmorgan Smartretirement 2060
JAKYX Fund  USD 24.51  0.14  0.57%   
The current 90-days correlation between Jpmorgan Smartretirement and Sprott Gold Equity is 0.39 (i.e., Weak diversification). The correlation of Jpmorgan Smartretirement 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 Smartretirement Correlation With Market

Very poor diversification

The correlation between Jpmorgan Smartretirement 2060 and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jpmorgan Smartretirement 2060 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 Smartretirement 2060. 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 manufacturing.

Moving together with Jpmorgan Mutual Fund

  0.98SRJIX Jpmorgan SmartretirementPairCorr
  0.98SRJQX Jpmorgan SmartretirementPairCorr
  0.98SRJPX Jpmorgan SmartretirementPairCorr
  0.98SRJSX Jpmorgan SmartretirementPairCorr
  0.98SRJYX Jpmorgan SmartretirementPairCorr
  0.98SRJZX Jpmorgan SmartretirementPairCorr
  0.97SRJCX Jpmorgan SmartretirementPairCorr
  0.98SRJAX Jpmorgan SmartretirementPairCorr
  0.77OSGCX Jpmorgan Small CapPairCorr
  0.81OSGIX Jpmorgan Mid CapPairCorr
  0.97JPBRX Jpmorgan Smartretirement*PairCorr
  0.76JPDAX Jpmorgan Preferred AndPairCorr
  0.77JPDIX Jpmorgan Preferred AndPairCorr
  0.77JPDRX Jpmorgan Preferred AndPairCorr
  0.93JPDVX Jpmorgan DiversifiedPairCorr
  0.91JPGSX Jpmorgan Intrepid GrowthPairCorr
  0.73JPHAX Jpmorgan Floating RatePairCorr
  0.72JPHCX Jpmorgan Floating RatePairCorr
  0.87JPIVX Jpmorgan Intrepid ValuePairCorr
  0.78OSVCX Jpmorgan Small CapPairCorr
  0.71JPHSX Jpmorgan Floating RatePairCorr
  0.73JPHRX Jpmorgan Floating RatePairCorr
  0.83JPPEX Jpmorgan Mid CapPairCorr
  0.96JPRRX Jpmorgan SmartretirementPairCorr
  1.0JPTBX Jpmorgan SmartretirementPairCorr
  0.97JPTKX Jpmorgan SmartretirementPairCorr
  0.96JPTLX Jpmorgan SmartretirementPairCorr
  0.97JPSRX Jpmorgan SmartretirementPairCorr
  0.97JPYRX Jpmorgan SmartretirementPairCorr

Moving against Jpmorgan Mutual Fund

  0.53OBBCX Jpmorgan MortgagePairCorr
  0.51OBDCX Jpmorgan E PlusPairCorr
  0.54OBOCX Jpmorgan E BondPairCorr
  0.53PGBOX Jpmorgan E BondPairCorr

Related Correlations Analysis

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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   
OGMCX
+ 1.0
IOGYX
OGMCX
+ 0.99
SGDLX
IOGYX
+ 0.98
SGDLX
USERX
+ 0.98
SGDLX
USERX
+ 0.98
IOGYX
USERX
+ 0.98
OGMCX
  
High negative correlations   
SPPIX
- 0.98
FGDIX
USERX
- 0.93
SPPIX
SPPIX
- 0.92
SGDLX
SPPIX
- 0.89
OGMCX
SPPIX
- 0.88
IOGYX

Risk-Adjusted Indicators

There is a big difference between Jpmorgan Mutual Fund performing well and Jpmorgan Smartretirement 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 Smartretirement'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.

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