JPMorgan Japanese Correlations

JFJ Stock

598.00 3.00 0.50%

The current 90-days correlation between JPMorgan Japanese and Scottish American Investment is 0.37 (i.e., Weak diversification). The correlation of JPMorgan Japanese 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.

JPMorgan Japanese Correlation With Market

Significant diversification

The correlation between JPMorgan Japanese Investment and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding JPMorgan Japanese Investment and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to JPMorgan Japanese could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace JPMorgan Japanese 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 JPMorgan Japanese - 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 JPMorgan Japanese Investment to buy it.

Moving together with JPMorgan Stock

0.67	0R15	SoftBank Group Corp Earnings Call This Week	Pair Corr
0.71	0HAV	Agilent Technologies	Pair Corr

Moving against JPMorgan Stock

0.76	0R2O	Freeport McMoRan	Pair Corr
0.64	0JU0	Lennar Corp Cl	Pair Corr
0.45	0R28	Newmont Corp	Pair Corr

Related Correlations Analysis

	LIV	SAIN	BRFI	0A4G	0R96	0JZT	ATN	ATYM
LIV		0.07	0.81	-0.52	0.85	-0.41	0.31	-0.09	LIV
SAIN	0.07		-0.15	0.0	0.07	0.12	0.71	-0.21	SAIN
BRFI	0.81	-0.15		-0.78	0.76	-0.6	0.1	-0.11	BRFI
0A4G	-0.52	0.0	-0.78		-0.54	0.7	-0.13	0.44	0A4G
0R96	0.85	0.07	0.76	-0.54		-0.39	0.35	-0.11	0R96
0JZT	-0.41	0.12	-0.6	0.7	-0.39		0.09	0.46	0JZT
ATN	0.31	0.71	0.1	-0.13	0.35	0.09		-0.09	ATN
ATYM	-0.09	-0.21	-0.11	0.44	-0.11	0.46	-0.09		ATYM
	LIV	SAIN	BRFI	0A4G	0R96	0JZT	ATN	ATYM

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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

0R96	+ 0.85	LIV
BRFI	+ 0.81	LIV
0R96	+ 0.76	BRFI
ATN	+ 0.71	SAIN
0JZT	+ 0.7	0A4G
ATYM	+ 0.46	0JZT

High negative correlations

0A4G	- 0.78	BRFI
0JZT	- 0.6	BRFI
0R96	- 0.54	0A4G
0A4G	- 0.52	LIV
0JZT	- 0.41	LIV
0JZT	- 0.39	0R96

Risk-Adjusted Indicators

There is a big difference between JPMorgan Stock performing well and JPMorgan Japanese Company 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 Japanese'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
LIV	1.14	0.39	0.17	0.73	1.11	(1.84)	2.26	(0.95)	23.54
SAIN	0.67	0.02	(0.06)	0.23	0.70	(0.78)	1.58	(1.19)	3.45
BRFI	0.73	0.13	0.05	1.60	0.68	(0.95)	2.03	(1.32)	4.24
0A4G	3.38	(0.44)	0.00	0.51	0.00	0.00	8.11	(8.51)	22.43
0R96	1.18	0.20	0.09	6.26	1.08	(1.39)	3.13	(2.00)	7.91
0JZT	2.10	(0.27)	0.00	1.51	0.00	0.00	5.67	(4.28)	14.03
ATN	0.79	0.08	0.00	(0.87)	1.31	(2.97)	2.20	(3.19)	12.63
ATYM	1.61	(0.10)	0.00	(1.49)	0.00	0.00	3.31	(3.83)	9.45

Be your own money manager

Our tools can tell you how much better you can do entering a position in JPMorgan Japanese 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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