Jpmorgan Floating Correlations

JPHAX Fund

USD 7.92 0.01 0.13%

The current 90-days correlation between Jpmorgan Floating Rate and Commonwealth Global Fund is 0.22 (i.e., Modest diversification). The correlation of Jpmorgan Floating 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 Floating Correlation With Market

Weak diversification

The correlation between Jpmorgan Floating Rate and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jpmorgan Floating Rate 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 Floating Rate. 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 nation.

Moving together with Jpmorgan Mutual Fund

0.84	JPHCX	Jpmorgan Floating Rate	Pair Corr
0.83	JPHSX	Jpmorgan Floating Rate	Pair Corr
0.7	JPHRX	Jpmorgan Floating Rate	Pair Corr

Moving against Jpmorgan Mutual Fund

0.33

OSTSX

Jpmorgan Short Inter

Pair Corr

Related Correlations Analysis

	CNGLX	DBIWX	ZGFIX	USLUX	GAFAX	HLGZX	LFLCX
CNGLX		0.66	0.76	0.62	0.45	0.87	0.23	CNGLX
DBIWX	0.66		0.77	0.34	0.46	0.72	0.55	DBIWX
ZGFIX	0.76	0.77		0.78	0.69	0.85	0.58	ZGFIX
USLUX	0.62	0.34	0.78		0.63	0.61	0.42	USLUX
GAFAX	0.45	0.46	0.69	0.63		0.64	0.69	GAFAX
HLGZX	0.87	0.72	0.85	0.61	0.64		0.49	HLGZX
LFLCX	0.23	0.55	0.58	0.42	0.69	0.49		LFLCX
	CNGLX	DBIWX	ZGFIX	USLUX	GAFAX	HLGZX	LFLCX

Risk-Adjusted Indicators

There is a big difference between Jpmorgan Mutual Fund performing well and Jpmorgan Floating 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 Floating'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
CNGLX	0.50	(0.04)	(0.07)	0.02	0.67	(0.52)	1.09	(1.20)	3.22
DBIWX	0.30	0.01	(0.08)	0.10	0.25	(0.35)	0.71	(0.62)	1.61
ZGFIX	0.49	0.00	(0.03)	0.07	0.55	(0.50)	1.04	(0.99)	2.32
USLUX	0.85	(0.03)	(0.01)	0.04	1.05	(0.91)	1.60	(2.10)	4.08
GAFAX	0.29	0.01	(0.11)	0.27	0.35	(0.31)	0.73	(0.54)	1.91
HLGZX	0.54	(0.04)	(0.07)	0.02	0.78	(0.53)	1.15	(1.16)	3.25
LFLCX	0.14	0.01	(0.29)	0.41	0.08	(0.16)	0.32	(0.32)	0.75

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