Jpmorgan Hedged Correlations

Mutual Funds . USA . 
Fund . Jpmorgan Hedged Equity
JHQDX Fund  USD 18.72  0.04  0.21%   
The current 90-days correlation between Jpmorgan Hedged Equity and Fidelity Sai Emerging is 0.4 (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

Poor diversification

The correlation between Jpmorgan Hedged Equity and DJI is 0.76 (i.e., 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 unemployment.

Moving together with Jpmorgan Mutual Fund

  0.8SRJIX Jpmorgan SmartretirementPairCorr
  0.8SRJQX Jpmorgan SmartretirementPairCorr
  0.79SRJPX Jpmorgan SmartretirementPairCorr
  0.8SRJSX Jpmorgan SmartretirementPairCorr
  0.81SRJYX Jpmorgan SmartretirementPairCorr
  0.78SRJZX Jpmorgan SmartretirementPairCorr
  0.74SRJCX Jpmorgan SmartretirementPairCorr
  0.79SRJAX Jpmorgan SmartretirementPairCorr
  0.78OSGCX Jpmorgan Small CapPairCorr
  0.91OSGIX Jpmorgan Mid CapPairCorr
  0.77JPBRX Jpmorgan Smartretirement*PairCorr
  0.69JPDAX Jpmorgan Preferred AndPairCorr
  0.71JPDIX Jpmorgan Preferred AndPairCorr
  0.71JPDRX Jpmorgan Preferred AndPairCorr
  0.68JPDVX Jpmorgan DiversifiedPairCorr
  0.99JPGSX Jpmorgan Intrepid GrowthPairCorr
  0.92JPHAX Jpmorgan Floating RatePairCorr
  0.92JPHCX Jpmorgan Floating RatePairCorr
  0.94JPIVX Jpmorgan Intrepid ValuePairCorr
  0.77OSVCX Jpmorgan Small CapPairCorr
  0.91JPHSX Jpmorgan Floating RatePairCorr
  0.93JPHRX Jpmorgan Floating RatePairCorr
  0.93JPPEX Jpmorgan Mid CapPairCorr
  0.75JPRRX Jpmorgan SmartretirementPairCorr
  0.87JPTBX Jpmorgan Smartretirement*PairCorr
  0.76JPTKX Jpmorgan Smartretirement*PairCorr
  0.75JPTLX Jpmorgan SmartretirementPairCorr
  0.76JPSRX Jpmorgan Smartretirement*PairCorr
  0.77JPYRX Jpmorgan SmartretirementPairCorr

Moving against Jpmorgan Mutual Fund

  0.8OBBCX Jpmorgan Mortgage-backedPairCorr
  0.78OBDCX Jpmorgan E PlusPairCorr
  0.46JPICX Jpmorgan California TaxPairCorr
  0.35OSTAX Jpmorgan Short-intermediaPairCorr
  0.8OBOCX Jpmorgan E BondPairCorr
  0.79PGBOX Jpmorgan E BondPairCorr
  0.48JPVZX Jpmorgan InternationalPairCorr
  0.48STMCX Jpmorgan Short-intermediaPairCorr
  0.46JPVRX 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
+ 0.73
FGKPX
FSKLX
+ 0.57
FGKPX
REEAX
+ 0.43
FSUVX
PQTIX
+ 0.38
FSKLX
FSUVX
+ 0.1
FGKPX
REEAX
+ 0.06
FSKLX
  
High negative correlations   
REEAX
- 0.58
PQTIX
FSUVX
- 0.55
FSKLX
FSUVX
- 0.38
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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