Jpmorgan Mortgage-backed Correlations

Mutual Funds . USA . 
Fund . Jpmorgan Mortgage Backed Securities
OBBCX Fund  USD 10.18  0.08  0.79%   
The current 90-days correlation between Jpmorgan Mortgage-backed and Jpmorgan Smartretirement 2035 is 0.1 (i.e., Average 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 -0.19 (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 Your Equity Center 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 main economic indicators.

Moving together with Jpmorgan Mutual Fund

  0.75OSTAX Jpmorgan Short-intermediaPairCorr
  0.68OSTCX Jpmorgan Short DurationPairCorr
  0.79JPICX Jpmorgan California TaxPairCorr
  1.0OBDCX Jpmorgan E PlusPairCorr
  0.71JPVZX Jpmorgan InternationalPairCorr
  1.0OBOCX Jpmorgan E BondPairCorr
  1.0PGBOX Jpmorgan E BondPairCorr
  0.85STMCX Jpmorgan Short-intermediaPairCorr

Moving against Jpmorgan Mutual Fund

  0.83JPHRX Jpmorgan Floating RatePairCorr
  0.82JPHCX Jpmorgan Floating RatePairCorr
  0.81JPHAX Jpmorgan Floating RatePairCorr
  0.78OSGIX Jpmorgan Mid CapPairCorr
  0.77JPGSX Jpmorgan Intrepid GrowthPairCorr
  0.69OSGCX Jpmorgan Small CapPairCorr
  0.61OSVCX Jpmorgan Small CapPairCorr
  0.47JPTBX Jpmorgan Smartretirement*PairCorr
  0.35SRJYX Jpmorgan SmartretirementPairCorr
  0.34SRJIX Jpmorgan SmartretirementPairCorr
  0.34SRJQX Jpmorgan SmartretirementPairCorr
  0.34SRJSX Jpmorgan SmartretirementPairCorr
  0.33SRJPX Jpmorgan SmartretirementPairCorr
  0.33SRJAX Jpmorgan SmartretirementPairCorr
  0.32SRJZX Jpmorgan SmartretirementPairCorr
  0.74JAMCX Jpmorgan Mid CapPairCorr
  0.69PGSGX Jpmorgan Small CapPairCorr
  0.69JSGZX Jpmorgan Small CapPairCorr
  0.66ODMCX Jpmorgan Intrepid MidPairCorr
  0.66JSECX Jpmorgan Small CapPairCorr
  0.66JSEPX Jpmorgan Small CapPairCorr
  0.66JSERX Jpmorgan Small CapPairCorr
  0.61JSCSX Jpmorgan Small PanyPairCorr
  0.52JAKYX 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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SRJIX  0.40 (0.03)(0.17) 0.05  0.48 
(0.43)
 0.90 
(0.80)
 2.51 
SRJQX  0.40 (0.04)(0.17) 0.05  0.48 
(0.43)
 0.90 
(0.80)
 2.42 
SRJPX  0.40 (0.04)(0.17) 0.05  0.48 
(0.43)
 0.87 
(0.81)
 2.51 
SRJSX  0.40 (0.04)(0.18) 0.05  0.47 
(0.43)
 0.86 
(0.80)
 2.47 
SRJYX  0.40 (0.04)(0.17) 0.06  0.48 
(0.43)
 0.86 
(0.80)
 2.51 
SRJZX  0.40 (0.04)(0.18) 0.05  0.47 
(0.42)
 0.87 
(0.77)
 2.46 
SRJCX  0.40 (0.04)(0.18) 0.05  0.48 
(0.44)
 0.88 
(0.82)
 2.48 
SRJAX  0.40 (0.04)(0.17) 0.05  0.47 
(0.44)
 0.87 
(0.81)
 2.44 
OSGCX  0.91 (0.02) 0.02  0.10  1.05 
(0.99)
 2.01 
(1.81)
 6.63 
OSGIX  0.76  0.08  0.09  0.19  0.77 
(0.83)
 1.58 
(1.74)
 5.03 

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