Jpmorgan Preferred Correlations

JPDRX Fund

USD 9.69 0.01 0.10%

The current 90-days correlation between Jpmorgan Preferred And and Morningstar Municipal Bond is 0.42 (i.e., Very weak diversification). The correlation of Jpmorgan Preferred 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 Preferred Correlation With Market

Modest diversification

The correlation between Jpmorgan Preferred And and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jpmorgan Preferred And 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 Preferred And. 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 metropolitan statistical area.

Moving together with Jpmorgan Mutual Fund

0.78	SRJIX	Jpmorgan Smartretirement	Pair Corr
0.78	SRJQX	Jpmorgan Smartretirement	Pair Corr
0.78	SRJPX	Jpmorgan Smartretirement	Pair Corr
0.78	SRJSX	Jpmorgan Smartretirement	Pair Corr
0.78	SRJYX	Jpmorgan Smartretirement	Pair Corr
0.78	SRJZX	Jpmorgan Smartretirement	Pair Corr
0.77	SRJCX	Jpmorgan Smartretirement	Pair Corr
0.78	SRJAX	Jpmorgan Smartretirement	Pair Corr
0.78	JPBRX	Jpmorgan Smartretirement*	Pair Corr
1.0	JPDAX	Jpmorgan Preferred And	Pair Corr
1.0	JPDIX	Jpmorgan Preferred And	Pair Corr
0.71	JPDVX	Jpmorgan Diversified	Pair Corr
0.69	JPGSX	Jpmorgan Intrepid Growth	Pair Corr
0.64	JPHAX	Jpmorgan Floating Rate	Pair Corr
0.61	JPHCX	Jpmorgan Floating Rate	Pair Corr
0.62	JPIVX	Jpmorgan Intrepid Value	Pair Corr
0.61	JPHSX	Jpmorgan Floating Rate	Pair Corr
0.62	JPHRX	Jpmorgan Floating Rate	Pair Corr
0.77	JPRRX	Jpmorgan Smartretirement	Pair Corr
0.78	JPTBX	Jpmorgan Smartretirement	Pair Corr
0.78	JPTKX	Jpmorgan Smartretirement	Pair Corr
0.78	JPTLX	Jpmorgan Smartretirement	Pair Corr
0.78	JPSRX	Jpmorgan Smartretirement	Pair Corr
0.79	JPYRX	Jpmorgan Smartretirement	Pair Corr
0.65	EMREX	Jpmorgan Trust Iv	Pair Corr
0.65	EMRSX	Jpmorgan Emerging Markets	Pair Corr

Moving against Jpmorgan Mutual Fund

0.32	OBBCX	Jpmorgan Mortgage	Pair Corr
0.32	OBOCX	Jpmorgan E Bond	Pair Corr

Related Correlations Analysis

	MSTPX	AFB	PATFX	OMIAX	OKMUX	IMLXX	PCMNX
MSTPX		0.78	0.94	0.94	0.89	-0.16	0.89	MSTPX
AFB	0.78		0.89	0.9	0.8	-0.16	0.88	AFB
PATFX	0.94	0.89		0.97	0.88	-0.1	0.92	PATFX
OMIAX	0.94	0.9	0.97		0.93	-0.3	0.97	OMIAX
OKMUX	0.89	0.8	0.88	0.93		-0.44	0.96	OKMUX
IMLXX	-0.16	-0.16	-0.1	-0.3	-0.44		-0.44	IMLXX
PCMNX	0.89	0.88	0.92	0.97	0.96	-0.44		PCMNX
	MSTPX	AFB	PATFX	OMIAX	OKMUX	IMLXX	PCMNX

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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

OMIAX	+ 0.97	PATFX
PCMNX	+ 0.97	OMIAX
PCMNX	+ 0.96	OKMUX
PATFX	+ 0.94	MSTPX
OMIAX	+ 0.94	MSTPX
OKMUX	+ 0.93	OMIAX

High negative correlations

PCMNX	- 0.44	IMLXX
IMLXX	- 0.44	OKMUX
IMLXX	- 0.3	OMIAX
IMLXX	- 0.16	AFB
IMLXX	- 0.16	MSTPX
IMLXX	- 0.1	PATFX

Risk-Adjusted Indicators

There is a big difference between Jpmorgan Mutual Fund performing well and Jpmorgan Preferred 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 Preferred'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
MSTPX	0.11	0.01	(0.29)	(0.09)	0.14	(0.18)	0.30	(0.30)	1.10
AFB	0.48	0.02	(0.16)	(0.16)	0.61	(0.51)	1.12	(0.94)	2.88
PATFX	0.16	0.02	(0.24)	(0.08)	0.22	(0.24)	0.44	(0.35)	1.69
OMIAX	0.14	0.01	(0.34)	(0.02)	0.20	(0.20)	0.29	(0.29)	1.35
OKMUX	0.15	0.01	(0.23)	0.00	0.23	(0.27)	0.29	(0.47)	1.52
IMLXX	0.03	0.01	0.00	(2.41)	0.00	0.00	0.00	0.00	1.01
PCMNX	0.11	0.00	(0.37)	0.09	0.18	(0.16)	0.25	(0.25)	1.07

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