Undiscovered Managers Correlations

UBVCX Fund

USD 83.59 1.44 1.75%

The current 90-days correlation between Undiscovered Managers and Touchstone Large Cap is 0.85 (i.e., Very poor diversification). The correlation of Undiscovered Managers 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.

Undiscovered Managers Correlation With Market

Very poor diversification

The correlation between Undiscovered Managers Behavior and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Undiscovered Managers Behavior and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Undiscovered Managers Behavioral. 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 Undiscovered Mutual Fund

0.61	SRJYX	Jpmorgan Smartretirement	Pair Corr
0.95	OSGCX	Jpmorgan Small Cap	Pair Corr
0.88	OSGIX	Jpmorgan Mid Cap	Pair Corr
0.77	JPGSX	Jpmorgan Intrepid Growth	Pair Corr
0.68	JPHAX	Jpmorgan Floating Rate	Pair Corr
0.7	JPHCX	Jpmorgan Floating Rate	Pair Corr
0.98	OSVCX	Jpmorgan Small Cap	Pair Corr
0.7	JPHRX	Jpmorgan Floating Rate	Pair Corr
0.67	JPTBX	Jpmorgan Smartretirement*	Pair Corr
0.95	PGSGX	Jpmorgan Small Cap	Pair Corr

Moving against Undiscovered Mutual Fund

0.65	OBOCX	Jpmorgan E Bond	Pair Corr
0.65	PGBOX	Jpmorgan E Bond	Pair Corr
0.64	OBBCX	Jpmorgan Mortgage-backed	Pair Corr
0.64	OBDCX	Jpmorgan E Plus	Pair Corr
0.42	JPVZX	Jpmorgan International	Pair Corr
0.4	JPICX	Jpmorgan California Tax	Pair Corr
0.38	OSTAX	Jpmorgan Short-intermedia	Pair Corr
0.35	OSTCX	Jpmorgan Short Duration	Pair Corr
0.52	JSEAX	Jpmorgan International	Pair Corr
0.45	JSDSX	Jpmorgan Short Duration	Pair Corr
0.44	STMCX	Jpmorgan Short-intermedia	Pair Corr

Related Correlations Analysis

	TFCCX	GMYPX	TRLGX	LCGFX	TRLUX	TVFDX	AMONX
TFCCX		0.92	0.93	0.89	0.93	0.74	0.93	TFCCX
GMYPX	0.92		0.93	0.94	0.97	0.87	0.96	GMYPX
TRLGX	0.93	0.93		0.98	0.88	0.86	0.99	TRLGX
LCGFX	0.89	0.94	0.98		0.88	0.91	0.98	LCGFX
TRLUX	0.93	0.97	0.88	0.88		0.79	0.93	TRLUX
TVFDX	0.74	0.87	0.86	0.91	0.79		0.87	TVFDX
AMONX	0.93	0.96	0.99	0.98	0.93	0.87		AMONX
	TFCCX	GMYPX	TRLGX	LCGFX	TRLUX	TVFDX	AMONX

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Risk-Adjusted Indicators

There is a big difference between Undiscovered Mutual Fund performing well and Undiscovered Managers 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 Undiscovered Managers' 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
TFCCX	0.51	0.02	(0.01)	0.15	0.37	(0.59)	0.99	(0.98)	3.59
GMYPX	0.50	0.01	(0.03)	0.13	0.35	(0.63)	1.09	(0.87)	3.62
TRLGX	0.67	0.00	(0.02)	0.12	0.94	(0.63)	1.50	(1.94)	4.73
LCGFX	0.73	0.00	(0.01)	0.12	1.01	(0.73)	1.71	(1.76)	5.22
TRLUX	0.50	0.00	(0.06)	0.12	0.36	(0.58)	0.95	(0.90)	3.32
TVFDX	0.37	0.01	(0.10)	0.13	0.39	(0.59)	1.06	(0.83)	2.60
AMONX	0.71	0.03	0.03	0.15	0.85	(0.76)	1.63	(1.30)	4.55

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