Jpmorgan Mortgage-backed Correlations

Mutual Funds . USA . 
Fund . Jpmorgan Mortgage Backed Securities
JMBUX Fund  USD 10.22  0.03  0.29%   
The current 90-days correlation between Jpmorgan Mortgage-backed and Guidepath Managed Futures is 0.14 (i.e., Average diversification). The correlation of Jpmorgan Mortgage-backed 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 Mortgage-backed Correlation With Market

Good diversification

The correlation between Jpmorgan Mortgage Backed Secur and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jpmorgan Mortgage Backed Secur 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 Mortgage Backed Securities. 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 employment.

Moving together with Jpmorgan Mutual Fund

  0.78OSTAX Jpmorgan Short-intermediaPairCorr
  0.82OSTCX Jpmorgan Short DurationPairCorr
  0.72OSTSX Jpmorgan Short-intermediaPairCorr
  1.0OBBCX Jpmorgan Mortgage-backedPairCorr
  0.79JPICX Jpmorgan California TaxPairCorr
  1.0OBDCX Jpmorgan E PlusPairCorr
  0.69JPVRX Jpmorgan InternationalPairCorr
  0.7JPVZX Jpmorgan InternationalPairCorr
  1.0OBOCX Jpmorgan E BondPairCorr

Moving against Jpmorgan Mutual Fund

  0.85JPHAX Jpmorgan Floating RatePairCorr
  0.84JPHCX Jpmorgan Floating RatePairCorr
  0.84JPHSX Jpmorgan Floating RatePairCorr
  0.84JPHRX Jpmorgan Floating RatePairCorr
  0.76JPGSX Jpmorgan Intrepid GrowthPairCorr
  0.73OSGIX Jpmorgan Mid CapPairCorr
  0.73JPIVX Jpmorgan Intrepid ValuePairCorr
  0.72JPPEX Jpmorgan Mid CapPairCorr
  0.65OSGCX Jpmorgan Small CapPairCorr
  0.6OSVCX Jpmorgan Small CapPairCorr
  0.49JPTBX Jpmorgan Smartretirement*PairCorr
  0.37SRJIX Jpmorgan SmartretirementPairCorr
  0.37SRJYX Jpmorgan SmartretirementPairCorr
  0.36SRJQX Jpmorgan SmartretirementPairCorr
  0.36SRJSX Jpmorgan SmartretirementPairCorr
  0.35SRJPX Jpmorgan SmartretirementPairCorr
  0.35SRJAX Jpmorgan SmartretirementPairCorr
  0.34SRJZX Jpmorgan SmartretirementPairCorr
  0.33SRJCX Jpmorgan SmartretirementPairCorr
  0.33JPDIX Jpmorgan Preferred AndPairCorr
  0.32JPDRX Jpmorgan Preferred AndPairCorr
  0.31JPBRX Jpmorgan Smartretirement*PairCorr
  0.65PGSGX Jpmorgan Small CapPairCorr
  0.63ODMCX Jpmorgan Intrepid MidPairCorr
  0.54JAKYX Jpmorgan SmartretirementPairCorr
  0.53JAKAX Jpmorgan SmartretirementPairCorr
  0.52JRJYX Jpmorgan High YieldPairCorr
  0.52JAKZX Jpmorgan SmartretirementPairCorr
  0.52JAKCX Jpmorgan SmartretirementPairCorr
  0.51JRJKX Jpmorgan High YieldPairCorr
  0.49JAAYX Jpmorgan SmartretirementPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Jpmorgan Mutual Fund performing well and Jpmorgan Mortgage-backed 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 Mortgage-backed'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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