JPM BetaBuilders Correlations

JCAG Etf

92.84 0.13 0.14%

The current 90-days correlation between JPM BetaBuilders China and JPM AC Asia is 0.23 (i.e., Modest diversification). The correlation of JPM BetaBuilders 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.

JPM BetaBuilders Correlation With Market

Very good diversification

The correlation between JPM BetaBuilders China and DJI is -0.22 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding JPM BetaBuilders China and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to JPM BetaBuilders could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace JPM BetaBuilders when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back JPM BetaBuilders - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling JPM BetaBuilders China to buy it.

Moving against JPM Etf

0.9	SGBP	WisdomTree Short GBP	Pair Corr
0.87	U13G	Lyxor UCITS iBoxx	Pair Corr
0.79	3CON	Leverage Shares 3x	Pair Corr
0.75	3PLT	Leverage Shares 3x	Pair Corr
0.67	3ARE	Leverage Shares 3x	Pair Corr
0.61	SMTC	Lyxor Smart Overnight	Pair Corr
0.6	NVD3	Leverage Shares 3x	Pair Corr
0.57	INFU	Lyxor 10Y Inflation	Pair Corr
0.51	3SME	GraniteShares 3x Short	Pair Corr
0.44	XDWT	Xtrackers MSCI World	Pair Corr
0.42	URNU	Global X Uranium	Pair Corr
0.4	QQQ5	Leverage Shares 5x	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.27	0.55	0.02	0.55	0.04	0.64	0.28	-0.53	0.72	META
MSFT	0.27		0.22	0.17	0.18	-0.01	0.03	-0.12	0.12	-0.19	MSFT
UBER	0.55	0.22		-0.08	-0.06	0.27	-0.01	-0.14	0.08	0.35	UBER
F	0.02	0.17	-0.08		0.16	-0.49	0.42	0.61	-0.31	0.2	F
T	0.55	0.18	-0.06	0.16		-0.5	0.79	0.6	-0.78	0.38	T
A	0.04	-0.01	0.27	-0.49	-0.5		-0.47	-0.62	0.64	-0.01	A
CRM	0.64	0.03	-0.01	0.42	0.79	-0.47		0.85	-0.91	0.65	CRM
JPM	0.28	-0.12	-0.14	0.61	0.6	-0.62	0.85		-0.83	0.48	JPM
MRK	-0.53	0.12	0.08	-0.31	-0.78	0.64	-0.91	-0.83		-0.56	MRK
XOM	0.72	-0.19	0.35	0.2	0.38	-0.01	0.65	0.48	-0.56		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.85	CRM
CRM	+ 0.79	T
XOM	+ 0.72	META
XOM	+ 0.65	CRM
CRM	+ 0.64	META
MRK	+ 0.64	A

High negative correlations

MRK	- 0.91	CRM
MRK	- 0.83	JPM
MRK	- 0.78	T
JPM	- 0.62	A
XOM	- 0.56	MRK
MRK	- 0.53	META

JPM BetaBuilders Competition Risk-Adjusted Indicators

There is a big difference between JPM Etf performing well and JPM BetaBuilders ETF 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 JPM BetaBuilders' 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
META	1.06	0.06	0.02	0.20	1.40	(1.15)	2.62	(3.15)	8.02
MSFT	0.92	(0.05)	(0.05)	0.05	1.49	(0.89)	2.09	(1.85)	8.19
UBER	1.62	(0.12)	(0.05)	0.00	2.30	(1.74)	2.69	(2.53)	20.10
F	1.43	0.02	(0.04)	0.48	2.24	(1.39)	2.53	(2.90)	11.21
T	0.92	0.28	0.15	(7.88)	0.85	(1.05)	2.56	(1.72)	6.47
A	1.17	(0.09)	0.00	(0.05)	0.00	0.00	2.71	(2.42)	9.02
CRM	1.34	0.21	0.16	0.30	1.16	(1.53)	3.18	(1.93)	9.09
JPM	1.12	(0.01)	0.06	0.11	1.40	(1.21)	2.05	(2.00)	15.87
MRK	0.91	(0.21)	0.00	(0.74)	0.00	0.00	2.00	(2.13)	4.89
XOM	1.01	(0.05)	(0.08)	0.02	1.33	(1.07)	2.10	(2.09)	5.74

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Our tools can tell you how much better you can do entering a position in JPM BetaBuilders without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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