Jpmorgan Hedged Correlations

Mutual Funds . USA . 
Fund . Jpmorgan Hedged Equity
JHEQX Fund  USD 33.62  0.08  0.24%   
The current 90-days correlation between Jpmorgan Hedged Equity and Fidelity Sai Emerging is 0.44 (i.e., Very weak diversification). The correlation of Jpmorgan Hedged 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 Hedged Correlation With Market

Very poor diversification

The correlation between Jpmorgan Hedged Equity and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jpmorgan Hedged Equity 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 Hedged Equity. 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 producer price index.

Moving together with Jpmorgan Mutual Fund

  0.83SRJIX Jpmorgan SmartretirementPairCorr
  0.82SRJQX Jpmorgan SmartretirementPairCorr
  0.82SRJPX Jpmorgan SmartretirementPairCorr
  0.82SRJSX Jpmorgan SmartretirementPairCorr
  0.83SRJYX Jpmorgan SmartretirementPairCorr
  0.81SRJZX Jpmorgan SmartretirementPairCorr
  0.8SRJCX Jpmorgan SmartretirementPairCorr
  0.82SRJAX Jpmorgan SmartretirementPairCorr
  0.83OSGCX Jpmorgan Small CapPairCorr
  0.94OSGIX Jpmorgan Mid CapPairCorr
  0.8JPBRX Jpmorgan Smartretirement*PairCorr
  0.73JPDAX Jpmorgan Preferred AndPairCorr
  0.75JPDIX Jpmorgan Preferred AndPairCorr
  0.75JPDRX Jpmorgan Preferred AndPairCorr
  0.71JPDVX Jpmorgan DiversifiedPairCorr
  0.99JPGSX Jpmorgan Intrepid GrowthPairCorr
  0.93JPHAX Jpmorgan Floating RatePairCorr
  0.93JPHCX Jpmorgan Floating RatePairCorr
  0.96JPIVX Jpmorgan Intrepid ValuePairCorr
  0.8OSVCX Jpmorgan Small CapPairCorr
  0.92JPHSX Jpmorgan Floating RatePairCorr
  0.93JPHRX Jpmorgan Floating RatePairCorr
  0.95JPPEX Jpmorgan Mid CapPairCorr
  0.78JPRRX Jpmorgan SmartretirementPairCorr
  0.89JPTBX Jpmorgan Smartretirement*PairCorr
  0.8JPTKX Jpmorgan Smartretirement*PairCorr
  0.78JPTLX Jpmorgan SmartretirementPairCorr
  0.79JPSRX Jpmorgan Smartretirement*PairCorr
  0.8JPYRX Jpmorgan SmartretirementPairCorr

Moving against Jpmorgan Mutual Fund

  0.77OBBCX Jpmorgan Mortgage-backedPairCorr
  0.74OBDCX Jpmorgan E PlusPairCorr
  0.39JPICX Jpmorgan California TaxPairCorr
  0.31OSTAX Jpmorgan Short-intermediaPairCorr
  0.77OBOCX Jpmorgan E BondPairCorr
  0.75PGBOX Jpmorgan E BondPairCorr
  0.46STMCX Jpmorgan Short-intermediaPairCorr
  0.44JPVZX Jpmorgan InternationalPairCorr
  0.42JPVRX 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   
REEAX
+ 0.83
FGKPX
FSKLX
+ 0.56
FGKPX
REEAX
+ 0.43
FSUVX
PQTIX
+ 0.39
FSKLX
FSUVX
+ 0.14
FGKPX
REEAX
+ 0.12
FSKLX
  
High negative correlations   
FSUVX
- 0.52
FSKLX
REEAX
- 0.49
PQTIX
FSUVX
- 0.4
PQTIX
PQTIX
- 0.08
FGKPX

Risk-Adjusted Indicators

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