Undiscovered Managers Correlations

Mutual Funds . USA . 
Fund . Undiscovered Managers Behavioral
UBVRX Fund  USD 79.97  0.34  0.42%   
The current 90-days correlation between Undiscovered Managers and Jpmorgan Smartretirement 2035 is -0.07 (i.e., Good 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

Good diversification

The correlation between Undiscovered Managers Behavior and DJI is -0.12 (i.e., Good 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 metropolitan statistical area.

Moving together with Undiscovered Mutual Fund

  0.93SRJIX Jpmorgan SmartretirementPairCorr
  0.95SRJQX Jpmorgan SmartretirementPairCorr
  0.95SRJPX Jpmorgan SmartretirementPairCorr
  0.93SRJSX Jpmorgan SmartretirementPairCorr
  0.95SRJYX Jpmorgan SmartretirementPairCorr
  0.93SRJZX Jpmorgan SmartretirementPairCorr
  0.95SRJCX Jpmorgan SmartretirementPairCorr
  0.95SRJAX Jpmorgan SmartretirementPairCorr
  0.97OSGCX Jpmorgan Small CapPairCorr
  0.94OSGIX Jpmorgan Mid CapPairCorr
  0.94JPDVX Jpmorgan DiversifiedPairCorr
  0.94JPGSX Jpmorgan Intrepid GrowthPairCorr
  0.61JPTBX Jpmorgan Smartretirement*PairCorr
  0.66ODMCX Jpmorgan Intrepid MidPairCorr
  0.61JACSX Jpmorgan SmartretirementPairCorr
  0.62JSASX Jpmorgan SmartretirementPairCorr
  0.61JSAYX Jpmorgan SmartretirementPairCorr
  0.62JSACX Jpmorgan SmartretirementPairCorr
  0.61JSAIX Jpmorgan SmartretirementPairCorr
  0.92JSIPX Jpmorgan SmartretirementPairCorr

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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SRJIX  0.42  0.08  0.03  0.28  0.28 
(0.48)
 1.33 
(0.94)
 2.86 
SRJQX  0.42  0.16  0.03 (3.00) 0.25 
(0.47)
 1.28 
(0.94)
 2.86 
SRJPX  0.41  0.16  0.03 (2.99) 0.28 
(0.47)
 1.30 
(0.92)
 2.91 
SRJSX  0.42  0.08  0.03  0.28  0.28 
(0.47)
 1.28 
(0.94)
 2.86 
SRJYX  0.42  0.16  0.03 (2.80) 0.28 
(0.48)
 1.33 
(0.94)
 2.91 
SRJZX  0.41  0.08  0.03  0.27  0.28 
(0.47)
 1.30 
(0.90)
 2.91 
SRJCX  0.42  0.16  0.02 (2.83) 0.28 
(0.47)
 1.31 
(0.96)
 2.94 
SRJAX  0.41  0.16  0.03 (2.79) 0.29 
(0.47)
 1.29 
(0.95)
 2.89 
OSGCX  0.92  0.28  0.09 (1.25) 0.82 
(1.07)
 2.49 
(1.60)
 6.40 
OSGIX  0.88  0.35  0.18 (1.54) 0.69 
(1.02)
 2.50 
(1.28)
 5.86 

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