Undiscovered Managers Correlations

Mutual Funds . USA . 
Fund . Undiscovered Managers Behavioral
UBVCX Fund  USD 75.67  0.77  1.01%   
The current 90-days correlation between Undiscovered Managers and Elfun Government Money is 0.01 (i.e., Significant 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 0.88 (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

  0.96SRJIX Jpmorgan SmartretirementPairCorr
  0.92SRJQX Jpmorgan SmartretirementPairCorr
  0.92SRJPX Jpmorgan SmartretirementPairCorr
  0.96SRJSX Jpmorgan SmartretirementPairCorr
  0.92SRJYX Jpmorgan SmartretirementPairCorr
  0.96SRJZX Jpmorgan SmartretirementPairCorr
  0.96SRJCX Jpmorgan SmartretirementPairCorr
  0.92SRJAX Jpmorgan SmartretirementPairCorr
  0.97OSGCX Jpmorgan Small CapPairCorr
  0.92OSGIX Jpmorgan Mid CapPairCorr
  0.96JPBRX Jpmorgan SmartretirementPairCorr
  0.91JPDAX Jpmorgan Preferred AndPairCorr
  0.92JPDCX Jpmorgan Preferred AndPairCorr
  0.92JPDIX Jpmorgan Preferred AndPairCorr
  0.92JPDRX Jpmorgan Preferred AndPairCorr
  0.9JPDVX Jpmorgan DiversifiedPairCorr
  0.95JPGSX Jpmorgan Intrepid GrowthPairCorr
  0.8JPHAX Jpmorgan Floating RatePairCorr
  0.79JPHCX Jpmorgan Floating RatePairCorr
  0.82OSTAX Jpmorgan Short InterPairCorr
  0.7OSTCX Jpmorgan Short DurationPairCorr
  0.8JPIVX Jpmorgan Intrepid ValuePairCorr
  0.99OSVCX Jpmorgan Small CapPairCorr
  0.85JPHSX Jpmorgan Floating RatePairCorr
  0.86JPHRX Jpmorgan Floating RatePairCorr
  0.82OSTSX Jpmorgan Short InterPairCorr
  0.69JPICX Jpmorgan California TaxPairCorr
  0.97JPPEX Jpmorgan Mid CapPairCorr
  0.96JPRRX Jpmorgan SmartretirementPairCorr
  0.96JPTBX Jpmorgan SmartretirementPairCorr
  0.96JPTKX Jpmorgan SmartretirementPairCorr
  0.96JPTLX Jpmorgan SmartretirementPairCorr
  0.96JPSRX Jpmorgan SmartretirementPairCorr
  0.9JPVRX Jpmorgan InternationalPairCorr
  0.9JPVZX Jpmorgan InternationalPairCorr
  0.96JPYRX Jpmorgan SmartretirementPairCorr
  0.92EMREX Jpmorgan Trust IvPairCorr

Related Correlations Analysis

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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.

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