Jpmorgan Mortgage-backed Correlations

Mutual Funds . USA . 
Fund . Jpmorgan Mortgage Backed Securities
JMBUX Fund  USD 10.19  0.03  0.30%   
The current 90-days correlation between Jpmorgan Mortgage-backed and Vanguard Total Bond is -0.09 (i.e., Good diversification). The correlation of Jpmorgan Mortgage-backed 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 Mortgage-backed Correlation With Market

Good diversification

The correlation between Jpmorgan Mortgage Backed Secur and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jpmorgan Mortgage Backed Secur 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 Mortgage Backed Securities. 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 employment.

Moving together with Jpmorgan Mutual Fund

  0.77OSTAX Jpmorgan Short-intermediaPairCorr
  0.77OSTCX Jpmorgan Short DurationPairCorr
  0.7OSTSX Jpmorgan Short-intermediaPairCorr
  1.0OBBCX Jpmorgan Mortgage-backedPairCorr
  0.79JPICX Jpmorgan California TaxPairCorr
  1.0OBDCX Jpmorgan E PlusPairCorr
  0.69JPVRX Jpmorgan InternationalPairCorr
  1.0OBOCX Jpmorgan E BondPairCorr
  1.0PGBOX Jpmorgan E BondPairCorr

Moving against Jpmorgan Mutual Fund

  0.83JPHCX Jpmorgan Floating RatePairCorr
  0.83JPHRX Jpmorgan Floating RatePairCorr
  0.82JPHAX Jpmorgan Floating RatePairCorr
  0.77JPGSX Jpmorgan Intrepid GrowthPairCorr
  0.75OSGIX Jpmorgan Mid CapPairCorr
  0.75JPIVX Jpmorgan Intrepid ValuePairCorr
  0.74JPPEX Jpmorgan Mid CapPairCorr
  0.67OSGCX Jpmorgan Small CapPairCorr
  0.49JPTBX Jpmorgan Smartretirement*PairCorr
  0.37SRJYX Jpmorgan SmartretirementPairCorr
  0.36SRJIX Jpmorgan SmartretirementPairCorr
  0.36SRJSX Jpmorgan SmartretirementPairCorr
  0.36JPBRX Jpmorgan Smartretirement*PairCorr
  0.35SRJQX Jpmorgan SmartretirementPairCorr
  0.35SRJPX Jpmorgan SmartretirementPairCorr
  0.35SRJAX Jpmorgan SmartretirementPairCorr
  0.35JPTKX Jpmorgan Smartretirement*PairCorr
  0.35JPSRX Jpmorgan Smartretirement*PairCorr
  0.33SRJZX Jpmorgan SmartretirementPairCorr
  0.33JPRRX Jpmorgan SmartretirementPairCorr
  0.32SRJCX Jpmorgan SmartretirementPairCorr
  0.32JPDIX Jpmorgan Preferred AndPairCorr
  0.31JPDRX Jpmorgan Preferred AndPairCorr
  0.72JAMCX Jpmorgan Mid CapPairCorr
  0.67PGSGX Jpmorgan Small CapPairCorr
  0.53JAKQX Jpmorgan SmartretirementPairCorr
  0.53JAKSX Jpmorgan SmartretirementPairCorr
  0.51JAKCX Jpmorgan SmartretirementPairCorr
  0.51JSASX Jpmorgan SmartretirementPairCorr
  0.51JSAIX Jpmorgan SmartretirementPairCorr
  0.5JSAPX Jpmorgan SmartretirementPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Jpmorgan Mutual Fund performing well and Jpmorgan Mortgage-backed 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 Mortgage-backed'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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