Jpmorgan Small Correlations

OSGCX Fund

USD 9.46 0.02 0.21%

The current 90-days correlation between Jpmorgan Small Cap and The National Tax Free is -0.32 (i.e., Very good diversification). The correlation of Jpmorgan Small 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 Small Correlation With Market

Almost no diversification

The correlation between Jpmorgan Small Cap and DJI is 0.92 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jpmorgan Small Cap 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 Small Cap. 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

0.95	SRJIX	Jpmorgan Smartretirement	Pair Corr
0.97	SRJQX	Jpmorgan Smartretirement	Pair Corr
0.97	SRJPX	Jpmorgan Smartretirement	Pair Corr
0.97	SRJSX	Jpmorgan Smartretirement	Pair Corr
0.97	SRJYX	Jpmorgan Smartretirement	Pair Corr
0.97	SRJZX	Jpmorgan Smartretirement	Pair Corr
0.98	SRJCX	Jpmorgan Smartretirement	Pair Corr
0.97	SRJAX	Jpmorgan Smartretirement	Pair Corr
0.95	OSGIX	Jpmorgan Mid Cap	Pair Corr
0.97	JPBRX	Jpmorgan Smartretirement	Pair Corr
0.85	JPDAX	Jpmorgan Preferred And	Pair Corr
0.9	JPDCX	Jpmorgan Preferred And	Pair Corr
0.86	JPDIX	Jpmorgan Preferred And	Pair Corr
0.86	JPDRX	Jpmorgan Preferred And	Pair Corr
0.96	JPDVX	Jpmorgan Diversified	Pair Corr
0.88	JPGSX	Jpmorgan Intrepid Growth	Pair Corr
0.77	JPHAX	Jpmorgan Floating Rate	Pair Corr
0.82	JPHCX	Jpmorgan Floating Rate	Pair Corr
0.63	OSTAX	Jpmorgan Short-intermedia	Pair Corr
0.96	JPIVX	Jpmorgan Intrepid Value	Pair Corr
0.87	OSVCX	Jpmorgan Small Cap	Pair Corr
0.79	JPHSX	Jpmorgan Floating Rate	Pair Corr
0.83	JPHRX	Jpmorgan Floating Rate	Pair Corr
0.62	OSTSX	Jpmorgan Short-intermedia	Pair Corr
0.96	JPPEX	Jpmorgan Mid Cap	Pair Corr
0.95	JPRRX	Jpmorgan Smartretirement	Pair Corr
0.97	JPTBX	Jpmorgan Smartretirement	Pair Corr
0.95	JPTLX	Jpmorgan Smartretirement	Pair Corr
0.95	JPSRX	Jpmorgan Smartretirement	Pair Corr
0.86	JPVRX	Jpmorgan International	Pair Corr
0.89	JPVZX	Jpmorgan International	Pair Corr
0.97	JPYRX	Jpmorgan Smartretirement*	Pair Corr
0.89	EMREX	Jpmorgan Trust Iv	Pair Corr
0.95	EMRSX	Jpmorgan Emerging Markets	Pair Corr

Related Correlations Analysis

	CFNLX	INGXX	TBFIX	COMSX	HCSBX	BMBSX	GFAXX	GABTX
CFNLX		0.31	0.47	0.43	0.8	0.97	0.31	0.49	CFNLX
INGXX	0.31		-0.1	0.81	0.62	0.44	1.0	0.68	INGXX
TBFIX	0.47	-0.1		-0.19	0.25	0.42	-0.1	-0.13	TBFIX
COMSX	0.43	0.81	-0.19		0.74	0.56	0.81	0.93	COMSX
HCSBX	0.8	0.62	0.25	0.74		0.89	0.62	0.74	HCSBX
BMBSX	0.97	0.44	0.42	0.56	0.89		0.44	0.61	BMBSX
GFAXX	0.31	1.0	-0.1	0.81	0.62	0.44		0.68	GFAXX
GABTX	0.49	0.68	-0.13	0.93	0.74	0.61	0.68		GABTX
	CFNLX	INGXX	TBFIX	COMSX	HCSBX	BMBSX	GFAXX	GABTX

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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

GFAXX	+ 1.0	INGXX
BMBSX	+ 0.97	CFNLX
GABTX	+ 0.93	COMSX
BMBSX	+ 0.89	HCSBX
COMSX	+ 0.81	INGXX
GFAXX	+ 0.81	COMSX

High negative correlations

COMSX	- 0.19	TBFIX
GABTX	- 0.13	TBFIX
GFAXX	- 0.1	TBFIX
TBFIX	- 0.1	INGXX

Risk-Adjusted Indicators

There is a big difference between Jpmorgan Mutual Fund performing well and Jpmorgan Small 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 Small'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
CFNLX	0.25	(0.01)	0.00	0.15	0.00	0.00	0.49	(0.88)	2.51
INGXX	0.03	0.01	0.00	2.95	0.00	0.00	0.00	0.00	1.01
TBFIX	0.31	0.00	(0.06)	(0.09)	0.35	(0.33)	0.58	(0.57)	1.81
COMSX	1.35	0.16	0.07	0.15	2.04	(1.30)	2.81	(2.77)	15.71
HCSBX	0.11	0.00	(0.05)	(0.02)	0.18	(0.17)	0.21	(0.42)	1.69
BMBSX	0.19	0.00	(0.07)	0.08	0.36	(0.19)	0.27	(0.72)	2.00
GFAXX	0.03	0.01	0.00	2.95	0.00	0.00	0.00	0.00	1.01
GABTX	0.74	0.02	0.00	0.06	1.43	(0.64)	1.33	(1.62)	6.11

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