Jpmorgan Smartretirement Correlations

Mutual Funds . USA . 
Fund . Jpmorgan Smartretirement Blend
JOBYX Fund  USD 32.67  0.02  0.06%   
The current 90-days correlation between Jpmorgan Smartretirement and T Rowe Price is 0.98 (i.e., Almost no 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

Poor diversification

The correlation between Jpmorgan Smartretirement Blend 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 Smartretirement Blend 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 Blend. 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

  1.0SRJIX Jpmorgan SmartretirementPairCorr
  1.0SRJQX Jpmorgan SmartretirementPairCorr
  0.99SRJPX Jpmorgan SmartretirementPairCorr
  1.0SRJSX Jpmorgan SmartretirementPairCorr
  1.0SRJYX Jpmorgan SmartretirementPairCorr
  0.99SRJZX Jpmorgan SmartretirementPairCorr
  0.99SRJCX Jpmorgan SmartretirementPairCorr
  0.99SRJAX Jpmorgan SmartretirementPairCorr
  0.72OSGCX Jpmorgan Small CapPairCorr
  0.75OSGIX Jpmorgan Mid CapPairCorr
  0.99JPBRX Jpmorgan Smartretirement*PairCorr
  0.78JPDAX Jpmorgan Preferred AndPairCorr
  0.78JPDIX Jpmorgan Preferred AndPairCorr
  0.78JPDRX Jpmorgan Preferred AndPairCorr
  0.96JPDVX Jpmorgan DiversifiedPairCorr
  0.85JPGSX Jpmorgan Intrepid GrowthPairCorr
  0.65JPHAX Jpmorgan Floating RatePairCorr
  0.65JPHCX Jpmorgan Floating RatePairCorr
  0.81JPIVX Jpmorgan Intrepid ValuePairCorr
  0.73OSVCX Jpmorgan Small CapPairCorr
  0.63JPHSX Jpmorgan Floating RatePairCorr
  0.65JPHRX Jpmorgan Floating RatePairCorr
  0.78JPPEX Jpmorgan Mid CapPairCorr
  0.99JPRRX Jpmorgan SmartretirementPairCorr
  1.0JPTBX Jpmorgan SmartretirementPairCorr
  0.99JPTKX Jpmorgan SmartretirementPairCorr
  0.99JPTLX Jpmorgan SmartretirementPairCorr
  0.99JPSRX Jpmorgan SmartretirementPairCorr
  0.99JPYRX Jpmorgan SmartretirementPairCorr

Moving against Jpmorgan Mutual Fund

  0.41OBBCX Jpmorgan MortgagePairCorr
  0.39OBDCX Jpmorgan E PlusPairCorr
  0.43OBOCX Jpmorgan E BondPairCorr
  0.41PGBOX Jpmorgan E BondPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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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