Jpmorgan Mortgage-backed Correlations

OBBCX Fund

USD 10.08 0.05 0.49%

The current 90-days correlation between Jpmorgan Mortgage-backed and Siit Emerging Markets 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 -0.18 (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

0.69	OSTAX	Jpmorgan Short Inter	Pair Corr
0.72	JPICX	Jpmorgan California Tax	Pair Corr
1.0	OBOCX	Jpmorgan E Bond	Pair Corr
1.0	PGBOX	Jpmorgan E Bond	Pair Corr

Moving against Jpmorgan Mutual Fund

0.62	OSGIX	Jpmorgan Mid Cap	Pair Corr
0.61	JPGSX	Jpmorgan Intrepid Growth	Pair Corr
0.55	JPHAX	Jpmorgan Floating Rate	Pair Corr
0.55	JPPEX	Jpmorgan Mid Cap	Pair Corr
0.53	JPHCX	Jpmorgan Floating Rate	Pair Corr
0.53	JPHSX	Jpmorgan Floating Rate	Pair Corr
0.49	OSGCX	Jpmorgan Small Cap	Pair Corr
0.49	JPIVX	Jpmorgan Intrepid Value	Pair Corr
0.4	OSVCX	Jpmorgan Small Cap	Pair Corr
0.32	JPTBX	Jpmorgan Smartretirement*	Pair Corr
0.52	PGSGX	Jpmorgan Small Cap	Pair Corr
0.48	JAMCX	Jpmorgan Mid Cap	Pair Corr
0.45	JSERX	Jpmorgan Small Cap	Pair Corr
0.45	JSEQX	Jpmorgan Small Cap	Pair Corr
0.44	ODMCX	Jpmorgan Intrepid Mid	Pair Corr
0.44	JSECX	Jpmorgan Small Cap	Pair Corr
0.43	JSCSX	Jpmorgan Small Pany	Pair Corr
0.42	JSCZX	Jpmorgan Small Pany	Pair Corr
0.37	JAKYX	Jpmorgan Smartretirement	Pair Corr
0.37	JAKIX	Jpmorgan Smartretirement	Pair Corr

Related Correlations Analysis

	SMQFX	VEMIX	ZEMIX	APDOX	EMSLX	BXECX
SMQFX		0.98	0.95	0.84	0.93	0.7	SMQFX
VEMIX	0.98		0.95	0.85	0.92	0.66	VEMIX
ZEMIX	0.95	0.95		0.89	0.97	0.59	ZEMIX
APDOX	0.84	0.85	0.89		0.8	0.6	APDOX
EMSLX	0.93	0.92	0.97	0.8		0.65	EMSLX
BXECX	0.7	0.66	0.59	0.6	0.65		BXECX
	SMQFX	VEMIX	ZEMIX	APDOX	EMSLX	BXECX

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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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SMQFX	0.61	(0.01)	(0.11)	0.13	0.74	(0.64)	1.42	(1.33)	3.48
VEMIX	0.75	(0.01)	(0.10)	0.14	0.86	(0.81)	1.56	(1.69)	4.60
ZEMIX	0.65	0.12	(0.05)	(1.00)	0.78	(0.68)	1.48	(1.63)	4.20
APDOX	0.14	0.05	(0.69)	46.42	0.00	(0.21)	0.39	(0.19)	0.78
EMSLX	0.71	0.07	(0.09)	2.88	0.84	(0.84)	1.83	(1.00)	6.36
BXECX	0.27	(0.01)	(0.42)	0.07	0.23	(0.42)	0.66	(0.53)	1.44

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