Jpmorgan Managed Correlations

JMGIX Fund

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The current 90-days correlation between Jpmorgan Managed Income and Transamerica Emerging Markets is -0.08 (i.e., Good diversification). The correlation of Jpmorgan Managed 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 Managed Correlation With Market

Good diversification

The correlation between Jpmorgan Managed Income and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jpmorgan Managed Income 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 Managed Income. 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 gross domestic product.

Moving together with Jpmorgan Mutual Fund

0.71	OSGIX	Jpmorgan Mid Cap	Pair Corr
0.87	JPDAX	Jpmorgan Preferred And	Pair Corr
0.88	JPDIX	Jpmorgan Preferred And	Pair Corr
0.86	JPDRX	Jpmorgan Preferred And	Pair Corr
0.7	JPGSX	Jpmorgan Intrepid Growth	Pair Corr
0.87	JPHAX	Jpmorgan Floating Rate	Pair Corr
0.85	JPHCX	Jpmorgan Floating Rate	Pair Corr
0.78	JPIVX	Jpmorgan Intrepid Value	Pair Corr
0.87	JPHSX	Jpmorgan Floating Rate	Pair Corr
0.86	JPHRX	Jpmorgan Floating Rate	Pair Corr
0.74	JPPEX	Jpmorgan Mid Cap	Pair Corr
0.61	JPTBX	Jpmorgan Smartretirement*	Pair Corr

Moving against Jpmorgan Mutual Fund

0.53	OBBCX	Jpmorgan Mortgage-backed	Pair Corr
0.5	OBDCX	Jpmorgan E Plus	Pair Corr
0.55	OBOCX	Jpmorgan E Bond	Pair Corr
0.52	PGBOX	Jpmorgan E Bond	Pair Corr
0.49	JPVZX	Jpmorgan International	Pair Corr
0.47	JPVRX	Jpmorgan International	Pair Corr

Related Correlations Analysis

	TEOJX	QMNIX	USMIX	XWDIX	PACEX	LAIXX	SMQFX	QLERX
TEOJX		-0.27	0.23	-0.01	0.8	0.2	0.91	-0.05	TEOJX
QMNIX	-0.27		0.71	-0.55	0.08	0.4	-0.11	0.96	QMNIX
USMIX	0.23	0.71		-0.53	0.38	0.26	0.41	0.85	USMIX
XWDIX	-0.01	-0.55	-0.53		0.01	-0.07	-0.07	-0.56	XWDIX
PACEX	0.8	0.08	0.38	0.01		0.63	0.81	0.23	PACEX
LAIXX	0.2	0.4	0.26	-0.07	0.63		0.29	0.38	LAIXX
SMQFX	0.91	-0.11	0.41	-0.07	0.81	0.29		0.12	SMQFX
QLERX	-0.05	0.96	0.85	-0.56	0.23	0.38	0.12		QLERX
	TEOJX	QMNIX	USMIX	XWDIX	PACEX	LAIXX	SMQFX	QLERX

Click cells to compare fundamentals

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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

QLERX	+ 0.96	QMNIX
SMQFX	+ 0.91	TEOJX
QLERX	+ 0.85	USMIX
SMQFX	+ 0.81	PACEX
PACEX	+ 0.8	TEOJX
USMIX	+ 0.71	QMNIX

High negative correlations

QLERX	- 0.56	XWDIX
XWDIX	- 0.55	QMNIX
XWDIX	- 0.53	USMIX
QMNIX	- 0.27	TEOJX
SMQFX	- 0.11	QMNIX
SMQFX	- 0.07	XWDIX

Risk-Adjusted Indicators

There is a big difference between Jpmorgan Mutual Fund performing well and Jpmorgan Managed 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 Managed'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
TEOJX	0.67	0.00	(0.12)	0.12	0.83	(0.76)	1.76	(1.83)	4.91
QMNIX	0.26	0.08	(0.06)	(1.30)	0.15	(0.31)	0.70	(0.40)	1.91
USMIX	0.78	0.01	0.04	0.11	0.77	(0.90)	1.80	(1.40)	5.72
XWDIX	0.16	(0.03)	0.00	(2.64)	0.00	0.00	0.32	(0.38)	1.39
PACEX	0.13	0.01	(0.56)	0.72	0.00	(0.21)	0.32	(0.22)	0.97
LAIXX	0.03	0.01	0.00	(0.12)	0.00	0.00	0.00	0.00	1.01
SMQFX	0.59	(0.04)	(0.12)	0.00	0.77	(0.59)	1.27	(1.33)	3.52
QLERX	0.30	0.09	(0.03)	(1.74)	0.14	(0.37)	0.75	(0.61)	2.22

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