Jpmorgan Hedged Correlations

JHQDX Fund

USD 18.76 0.01 0.05%

The current 90-days correlation between Jpmorgan Hedged Equity and Volumetric Fund Volumetric is 0.87 (i.e., Very poor diversification). The correlation of Jpmorgan Hedged 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 Hedged Correlation With Market

Poor diversification

The correlation between Jpmorgan Hedged Equity and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jpmorgan Hedged Equity 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 Hedged Equity. 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 unemployment.

Moving together with Jpmorgan Mutual Fund

0.81	SRJIX	Jpmorgan Smartretirement	Pair Corr
0.81	SRJQX	Jpmorgan Smartretirement	Pair Corr
0.8	SRJPX	Jpmorgan Smartretirement	Pair Corr
0.81	SRJSX	Jpmorgan Smartretirement	Pair Corr
0.82	SRJYX	Jpmorgan Smartretirement	Pair Corr
0.79	SRJZX	Jpmorgan Smartretirement	Pair Corr
0.78	SRJCX	Jpmorgan Smartretirement	Pair Corr
0.8	SRJAX	Jpmorgan Smartretirement	Pair Corr
0.83	OSGCX	Jpmorgan Small Cap	Pair Corr
0.91	OSGIX	Jpmorgan Mid Cap	Pair Corr
0.78	JPBRX	Jpmorgan Smartretirement*	Pair Corr
0.7	JPDVX	Jpmorgan Diversified	Pair Corr
0.99	JPGSX	Jpmorgan Intrepid Growth	Pair Corr
0.8	OSVCX	Jpmorgan Small Cap	Pair Corr
0.92	JPHSX	Jpmorgan Floating Rate	Pair Corr
0.93	JPHRX	Jpmorgan Floating Rate	Pair Corr
0.92	JPPEX	Jpmorgan Mid Cap	Pair Corr
0.76	JPRRX	Jpmorgan Smartretirement	Pair Corr
0.77	JPTKX	Jpmorgan Smartretirement	Pair Corr
0.76	JPTLX	Jpmorgan Smartretirement	Pair Corr
0.78	JPYRX	Jpmorgan Smartretirement	Pair Corr
0.83	PGSGX	Jpmorgan Small Cap	Pair Corr
0.66	JRBYX	Jpmorgan Smartretirement*	Pair Corr
0.66	JRBBX	Jpmorgan Smartretirement*	Pair Corr
0.65	JRBEX	Jpmorgan Smartretirement*	Pair Corr
0.89	ODMCX	Jpmorgan Intrepid Mid	Pair Corr
0.9	JAKYX	Jpmorgan Smartretirement	Pair Corr

Moving against Jpmorgan Mutual Fund

0.81	OBOCX	Jpmorgan E Bond	Pair Corr
0.8	OBBCX	Jpmorgan Mortgage	Pair Corr
0.48	JPVRX	Jpmorgan International	Pair Corr
0.46	JPICX	Jpmorgan California Tax	Pair Corr
0.39	OSTCX	Jpmorgan Short Duration	Pair Corr
0.34	OSTSX	Jpmorgan Short Inter	Pair Corr
0.8	PGBOX	Jpmorgan E Bond	Pair Corr
0.57	STMCX	Jpmorgan Short-intermedia	Pair Corr
0.54	JSEAX	Jpmorgan International	Pair Corr
0.5	JSDSX	Jpmorgan Short Duration	Pair Corr
0.49	JSDRX	Jpmorgan Short Duration	Pair Corr

Related Correlations Analysis

	VOLMX	MFTFX	WRLDX	TQAAX	ABVCX	XMHFX	BBHLX
VOLMX		-0.5	0.78	0.96	0.97	-0.74	-0.19	VOLMX
MFTFX	-0.5		-0.09	-0.31	-0.41	0.72	0.38	MFTFX
WRLDX	0.78	-0.09		0.88	0.86	-0.32	0.18	WRLDX
TQAAX	0.96	-0.31	0.88		0.95	-0.59	-0.04	TQAAX
ABVCX	0.97	-0.41	0.86	0.95		-0.67	-0.21	ABVCX
XMHFX	-0.74	0.72	-0.32	-0.59	-0.67		0.43	XMHFX
BBHLX	-0.19	0.38	0.18	-0.04	-0.21	0.43		BBHLX
	VOLMX	MFTFX	WRLDX	TQAAX	ABVCX	XMHFX	BBHLX

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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

ABVCX	+ 0.97	VOLMX
TQAAX	+ 0.96	VOLMX
ABVCX	+ 0.95	TQAAX
TQAAX	+ 0.88	WRLDX
ABVCX	+ 0.86	WRLDX
WRLDX	+ 0.78	VOLMX

High negative correlations

XMHFX	- 0.74	VOLMX
XMHFX	- 0.67	ABVCX
XMHFX	- 0.59	TQAAX
MFTFX	- 0.5	VOLMX
ABVCX	- 0.41	MFTFX
XMHFX	- 0.32	WRLDX

Risk-Adjusted Indicators

There is a big difference between Jpmorgan Mutual Fund performing well and Jpmorgan Hedged 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 Hedged'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
VOLMX	0.61	0.00	0.00	0.12	0.59	(0.71)	1.14	(1.35)	4.49
MFTFX	0.98	(0.15)	0.00	(0.09)	0.00	0.00	1.70	(1.95)	5.42
WRLDX	0.49	(0.02)	(0.12)	0.08	0.45	(0.56)	0.92	(0.97)	2.75
TQAAX	0.82	(0.03)	0.00	0.09	0.98	(0.85)	1.75	(1.51)	6.10
ABVCX	0.54	0.04	0.04	0.16	0.27	(0.68)	1.09	(0.80)	3.88
XMHFX	0.17	(0.01)	0.00	0.21	0.00	0.00	0.42	(0.41)	1.52
BBHLX	0.64	(0.10)	0.00	(0.06)	0.00	0.00	1.41	(1.28)	3.65

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