Jpmorgan Equity Correlations

Mutual Funds . USA . 
Fund . Jpmorgan Equity Index
OEICX Fund  USD 89.43  0.50  0.56%   
The current 90-days correlation between Jpmorgan Equity Index and Short Term Fund Administrative is 0.01 (i.e., Significant diversification). The correlation of Jpmorgan Equity 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 Equity Correlation With Market

Very poor diversification

The correlation between Jpmorgan Equity Index and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jpmorgan Equity Index and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Jpmorgan Equity Index. 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

  0.85SRJIX Jpmorgan SmartretirementPairCorr
  0.85SRJQX Jpmorgan SmartretirementPairCorr
  0.84SRJPX Jpmorgan SmartretirementPairCorr
  0.85SRJSX Jpmorgan SmartretirementPairCorr
  0.86SRJYX Jpmorgan SmartretirementPairCorr
  0.84SRJZX Jpmorgan SmartretirementPairCorr
  0.83SRJCX Jpmorgan SmartretirementPairCorr
  0.84SRJAX Jpmorgan SmartretirementPairCorr
  0.9OSGCX Jpmorgan Small CapPairCorr
  0.96OSGIX Jpmorgan Mid CapPairCorr
  0.83JPBRX Jpmorgan Smartretirement*PairCorr
  0.65JPDAX Jpmorgan Preferred AndPairCorr
  0.67JPDIX Jpmorgan Preferred AndPairCorr
  0.67JPDRX Jpmorgan Preferred AndPairCorr
  0.77JPDVX Jpmorgan DiversifiedPairCorr
  0.99JPGSX Jpmorgan Intrepid GrowthPairCorr
  0.9JPHAX Jpmorgan Floating RatePairCorr
  0.91JPHCX Jpmorgan Floating RatePairCorr
  0.97JPIVX Jpmorgan Intrepid ValuePairCorr
  0.88OSVCX Jpmorgan Small CapPairCorr
  0.9JPHSX Jpmorgan Floating RatePairCorr
  0.9JPHRX Jpmorgan Floating RatePairCorr
  0.96JPPEX Jpmorgan Mid CapPairCorr
  0.81JPRRX Jpmorgan SmartretirementPairCorr
  0.91JPTBX Jpmorgan SmartretirementPairCorr
  0.82JPTKX Jpmorgan SmartretirementPairCorr
  0.81JPTLX Jpmorgan SmartretirementPairCorr
  0.82JPSRX Jpmorgan SmartretirementPairCorr
  0.83JPYRX Jpmorgan SmartretirementPairCorr

Moving against Jpmorgan Mutual Fund

  0.73OBBCX Jpmorgan MortgagePairCorr
  0.72OBDCX Jpmorgan E PlusPairCorr
  0.39OSTCX Jpmorgan Short DurationPairCorr
  0.38OSTAX Jpmorgan Short InterPairCorr
  0.36JPICX Jpmorgan California TaxPairCorr
  0.75OBOCX Jpmorgan E BondPairCorr
  0.74PGBOX Jpmorgan E BondPairCorr
  0.49JPVZX Jpmorgan InternationalPairCorr
  0.49STMCX Jpmorgan Short-intermediaPairCorr
  0.47JPVRX Jpmorgan InternationalPairCorr

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   
PAHIX
+ 0.54
PSFAX
PCRRX
+ 0.52
PAHIX
MIQBX
+ 0.47
PCRRX
PCRRX
+ 0.23
PSFAX
  
High negative correlations   
MIQBX
- 0.66
PSFAX
MIQBX
- 0.12
PAHIX

Risk-Adjusted Indicators

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