Jpmorgan Hedged Correlations
| JHEQX Fund | USD 30.26 0.03 0.1% |
The correlation of Jpmorgan Hedged 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Jpmorgan Hedged moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Jpmorgan Hedged Equity moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Average diversification
The correlation between Jpmorgan Hedged Equity and NYA is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Jpmorgan Hedged Equity and NYA in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Jpmorgan Hedged could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Jpmorgan Hedged when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Jpmorgan Hedged - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Jpmorgan Hedged Equity to buy it.
Moving together with Jpmorgan Mutual Fund
| 1.0 | JHQCX | Jpmorgan Hedged Equity | PairCorr |
| 0.79 | JHQAX | Jpmorgan Hedged Equity | PairCorr |
| 0.94 | GTENX | Gateway Fund Class | PairCorr |
| 0.95 | GTECX | Gateway Fund Class | PairCorr |
| 0.7 | GTEYX | Gateway Fund Class | PairCorr |
| 0.94 | GATEX | Gateway Fund Class | PairCorr |
| 0.66 | JHDCX | Jpmorgan Hedged Equity | PairCorr |
| 0.64 | JHDRX | Jpmorgan Hedged Equity | PairCorr |
| 0.65 | JHDAX | Jpmorgan Hedged Equity | PairCorr |
| 0.74 | GGHYX | Invesco Global Health | PairCorr |
| 0.66 | SBFCX | Victory Incore Investment | PairCorr |
| 0.73 | AAINX | Thrivent Opportunity | PairCorr |
| 0.72 | JRLKX | Multi Index 2015 | PairCorr |
Related Correlations Analysis
| 0.81 | 0.81 | 0.88 | 0.81 | HLIEX | ||
| 0.81 | 0.97 | 0.87 | 0.83 | JHQDX | ||
| 0.81 | 0.97 | 0.86 | 0.85 | CMNIX | ||
| 0.88 | 0.87 | 0.86 | 0.92 | JHQTX | ||
| 0.81 | 0.83 | 0.85 | 0.92 | JEMSX | ||
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Risk-Adjusted Indicators
There is a big difference between Jpmorgan Mutual Fund performing well and Jpmorgan Hedged 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 Hedged'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| HLIEX | 0.41 | 0.07 | 0.00 | 0.42 | 0.43 | 0.75 | 2.94 | |||
| JHQDX | 0.31 | 0.08 | (0.01) | 0.69 | 0.14 | 0.91 | 2.41 | |||
| CMNIX | 0.10 | 0.01 | (0.40) | 0.25 | 0.00 | 0.21 | 0.83 | |||
| JHQTX | 0.40 | 0.05 | (0.04) | 0.38 | 0.34 | 0.98 | 2.15 | |||
| JEMSX | 0.58 | 0.09 | 0.02 | 0.49 | 0.60 | 1.33 | 4.01 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Jpmorgan Hedged without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Already Invested in Jpmorgan Hedged Equity?
The danger of trading Jpmorgan Hedged Equity is mainly related to its market volatility and Mutual Fund specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Jpmorgan Hedged is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Jpmorgan Hedged. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Jpmorgan Hedged Equity is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Jpmorgan Hedged Equity. Also, note that the market value of any mutual fund could be tightly coupled with the direction of predictive economic indicators such as signals in producer price index. You can also try the Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..