Jpmorgan California Correlations

Mutual Funds . USA . 
Fund . Jpmorgan California Tax
JPICX Fund  USD 10.07  0.01  0.1%   
The current 90-days correlation between Jpmorgan California Tax and Goldman Sachs Clean is 0.5 (i.e., Very weak diversification). The correlation of Jpmorgan California 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 California Correlation With Market

Very good diversification

The correlation between Jpmorgan California Tax and DJI is -0.24 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jpmorgan California Tax 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 California Tax. 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 main economic indicators.

Moving together with Jpmorgan Mutual Fund

  0.97OSTAX Jpmorgan Short InterPairCorr
  0.75OSTCX Jpmorgan Short DurationPairCorr
  0.96OSTSX Jpmorgan Short InterPairCorr
  0.79OBBCX Jpmorgan MortgagePairCorr
  0.8OBDCX Jpmorgan E PlusPairCorr
  0.78OBOCX Jpmorgan E BondPairCorr

Moving against Jpmorgan Mutual Fund

  0.48JPHAX Jpmorgan Floating RatePairCorr
  0.48JPHCX Jpmorgan Floating RatePairCorr
  0.48JPHSX Jpmorgan Floating RatePairCorr
  0.47JPHRX Jpmorgan Floating RatePairCorr
  0.42JPGSX Jpmorgan Intrepid GrowthPairCorr
  0.39OSGCX Jpmorgan Small CapPairCorr
  0.37OSGIX Jpmorgan Mid CapPairCorr
  0.37JPIVX Jpmorgan Intrepid ValuePairCorr
  0.36JPPEX Jpmorgan Mid CapPairCorr
  0.33OSVCX Jpmorgan Small CapPairCorr
  0.39PGSGX Jpmorgan Small CapPairCorr
  0.31ODMCX Jpmorgan Intrepid MidPairCorr

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   
UIPMX
+ 0.99
GLDAX
FRGOX
+ 0.98
GLDAX
FRGOX
+ 0.98
OGMCX
OGMCX
+ 0.97
GLDAX
FRGOX
+ 0.96
UIPMX
UIPMX
+ 0.94
OGMCX
  
High negative correlations   
GLRBX
- 0.18
GCEBX

Risk-Adjusted Indicators

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