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Correlation Between Jpmorgan Smartretirement and KP Retirement

Analyzing existing cross correlation between Jpmorgan Smartretirement 2035 Fund R5 Class and KP Retirement Path 2035 Fund. You can compare the effects of market volatilities on Jpmorgan Smartretirement and KP Retirement and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Jpmorgan Smartretirement with a short position of KP Retirement. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jpmorgan Smartretirement and KP Retirement.

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Diversification Opportunities for Jpmorgan Smartretirement and KP Retirement

Jpmorgan Smartretirement 2035  diversification synergy
0.72
JP
KP

Poor diversification

The 3 months correlation between Jpmorgan and KPREX is 0.72. Overlapping area represents the amount of risk that can be diversified away by holding Jpmorgan Smartretirement 2035 and KP Retirement Path 2035 Fund in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on KP Retirement Path and Jpmorgan Smartretirement is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Jpmorgan Smartretirement 2035 Fund R5 Class are associated (or correlated) with KP Retirement. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KP Retirement Path has no effect on the direction of Jpmorgan Smartretirement i.e. Jpmorgan Smartretirement and KP Retirement go up and down completely randomly.

Pair Corralation between Jpmorgan Smartretirement and KP Retirement

Assuming 30 trading days horizon, Jpmorgan Smartretirement 2035 Fund R5 Class is expected to generate 1.34 times more return on investment than KP Retirement. However, Jpmorgan Smartretirement is 1.34 times more volatile than KP Retirement Path 2035 Fund. It trades about 0.01 of its potential returns per unit of risk. KP Retirement Path 2035 Fund is currently generating about -0.01 per unit of risk. If you would invest  2,021  in Jpmorgan Smartretirement 2035 Fund R5 Class on March 10, 2020 and sell it today you would lose (296.00)  from holding Jpmorgan Smartretirement 2035 Fund R5 Class or give up 14.65% of portfolio value over 30 days.
Time Period3 Months [change]
DirectionMoves Together 
StrengthSignificant
Accuracy98.46%
ValuesDaily Returns

Jpmorgan Smartretirement 2035   vs.  KP Retirement Path 2035 Fund

 Performance (%) 
    
  Timeline 
Jpmorgan Smartretirement 
00

Risk-Adjusted Fund Performance

Over the last 30 days Jpmorgan Smartretirement 2035 Fund R5 Class has generated negative risk-adjusted returns adding no value to fund investors. Inspite fairly weak basic indicators, Jpmorgan Smartretirement may actually be approaching a critical reversion point that can send shares even higher in May 2020.
KP Retirement Path 
00

Risk-Adjusted Fund Performance

Over the last 30 days KP Retirement Path 2035 Fund has generated negative risk-adjusted returns adding no value to fund investors. Inspite fairly strong basic indicators, KP Retirement is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.

Jpmorgan Smartretirement and KP Retirement Volatility Contrast

 Predicted Return Density 
    
  Returns 
Check out your portfolio center. Please also try Volatility Analysis module to get historical volatility and risk analysis based on latest market data.


 
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