Jpmorgan Hedged Correlations

JHDRX Fund

USD 18.12 0.05 0.28%

The current 90-days correlation between Jpmorgan Hedged Equity and Jpmorgan Smartretirement 2035 is 0.9 (i.e., Almost no 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

Good diversification

The correlation between Jpmorgan Hedged Equity and DJI is -0.13 (i.e., Good 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 metropolitan statistical area.

Moving together with Jpmorgan Mutual Fund

0.85	SRJIX	Jpmorgan Smartretirement	Pair Corr
0.91	JPDVX	Jpmorgan Diversified	Pair Corr
0.86	JTSQX	Jp Morgan Smartretirement	Pair Corr
0.93	JEPCX	Jpmorgan Research Equity	Pair Corr
0.89	OIEJX	Jpmorgan Equity Income	Pair Corr
0.95	JHQRX	Jpmorgan Hedged Equity	Pair Corr
0.91	SMTPX	Jpmorgan Smartretirement	Pair Corr
0.97	JLGMX	Jpmorgan Large Cap	Pair Corr
0.95	JHQCX	Jpmorgan Hedged Equity	Pair Corr
0.95	JHEQX	Jpmorgan Hedged Equity	Pair Corr
0.95	JHQAX	Jpmorgan Hedged Equity	Pair Corr
0.9	GTENX	Gateway Fund Class	Pair Corr
0.91	GTECX	Gateway Fund Class	Pair Corr
0.91	GTEYX	Gateway Fund Class	Pair Corr
0.91	GATEX	Gateway Fund Class	Pair Corr
1.0	JHDCX	Jpmorgan Hedged Equity	Pair Corr
1.0	JHDAX	Jpmorgan Hedged Equity	Pair Corr
0.87	TCTGX	Transamerica Cleartrack	Pair Corr
0.87	TDKTX	Cleartrack 2015 Class	Pair Corr
0.87	TCTJX	Transamerica Cleartrack	Pair Corr
0.88	TCSUX	Cleartrack 2020 Class	Pair Corr

Moving against Jpmorgan Mutual Fund

0.79	USPSX	Profunds Ultrashort	Pair Corr
0.64	JMBUX	Jpmorgan Mortgage-backed	Pair Corr
0.96	RYUHX	Inverse Sp 500 Potential Growth	Pair Corr
0.89	UIPIX	Ultrashort Mid Cap	Pair Corr
0.84	MSTBX	Morningstar Defensive	Pair Corr
0.83	NMMRF	Nomura Real Estate	Pair Corr
0.79	USPIX	Profunds Ultrashort	Pair Corr
0.76	WBFFX	Capital World Bond	Pair Corr
0.72	KGIRX	Kopernik International	Pair Corr
0.65	ANBIX	Ab Bond Inflation	Pair Corr
0.56	KAGAX	Kensington Dynamic Growth	Pair Corr
0.55	BMOPX	Ishares Aggregate Bond	Pair Corr
0.47	PHEAX	Prudential Global Total	Pair Corr
0.43	HLDRX	Hartford Emerging	Pair Corr
0.32	VCRCX	Mainstay Cbre Global	Pair Corr
0.31	TGROX	Tiaa Cref Green	Pair Corr

Related Correlations Analysis

	SRJQX	SRJPX	SRJSX	SRJYX	SRJZX	VMIXX	SRJCX	SRJAX	JOYXX
SRJQX		1.0	0.91	0.91	0.92	0.0	0.92	1.0	0.0	SRJQX
SRJPX	1.0		0.92	0.91	0.92	0.0	0.92	1.0	0.0	SRJPX
SRJSX	0.91	0.92		1.0	1.0	0.0	1.0	0.92	0.0	SRJSX
SRJYX	0.91	0.91	1.0		1.0	0.0	1.0	0.91	0.0	SRJYX
SRJZX	0.92	0.92	1.0	1.0		0.0	1.0	0.92	0.0	SRJZX
VMIXX	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	VMIXX
SRJCX	0.92	0.92	1.0	1.0	1.0	0.0		0.92	0.0	SRJCX
SRJAX	1.0	1.0	0.92	0.91	0.92	0.0	0.92		0.0	SRJAX
JOYXX	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		JOYXX
	SRJQX	SRJPX	SRJSX	SRJYX	SRJZX	VMIXX	SRJCX	SRJAX	JOYXX

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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

SRJPX	+ 1.0	SRJQX
SRJAX	+ 1.0	SRJQX
SRJAX	+ 1.0	SRJPX
SRJYX	+ 1.0	SRJSX
SRJZX	+ 1.0	SRJSX
SRJCX	+ 1.0	SRJSX

High negative correlations

JOYXX	- 0.0	SRJAX
JOYXX	- 0.0	SRJCX
JOYXX	- 0.0	VMIXX
SRJAX	- 0.0	VMIXX
SRJCX	- 0.0	VMIXX
JOYXX	- 0.0	SRJZX

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.

	Mean Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
SRJQX	0.77	(0.02)	0.20	1.37	(1.64)	7.80
SRJPX	0.78	(0.03)	0.22	1.35	(1.66)	7.76
SRJSX	0.77	0.06	(0.04)	1.32	(1.64)	7.80
SRJYX	0.77	0.06	(0.04)	1.34	(1.59)	7.79
SRJZX	0.77	0.06	(0.04)	1.34	(1.61)	7.76
VMIXX	0.00	0.00	0.00	0.00	0.00	0.00
SRJCX	0.77	0.06	(0.04)	1.30	(1.63)	7.77
SRJAX	0.78	(0.02)	0.21	1.36	(1.60)	7.76
JOYXX	0.00	0.00	0.00	0.00	0.00	0.00

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