Correlation Analysis Between Jpmorgan Smartretirement and American Funds

This module allows you to analyze existing cross correlation between Jpmorgan Smartretirement 2035 Fund R5 Class and American Funds 2035 Target Date. You can compare the effects of market volatilities on Jpmorgan Smartretirement and American Funds 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 American Funds. See also your portfolio center. Please also check ongoing floating volatility patterns of Jpmorgan Smartretirement and American Funds.
Horizon     30 Days    Login   to change
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Comparative Performance

Jpmorgan Smartretirement  
99

Risk-Adjusted Fund Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Jpmorgan Smartretirement 2035 Fund R5 Class are ranked lower than 9 (%) of all funds and portfolios of funds over the last 30 days. Inspite fairly strong basic indicators, Jpmorgan Smartretirement is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.
American Funds 2035  
1010

Risk-Adjusted Fund Performance

Compared to the overall equity markets, risk-adjusted returns on investments in American Funds 2035 Target Date are ranked lower than 10 (%) of all funds and portfolios of funds over the last 30 days. Inspite fairly strong basic indicators, American Funds is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.

Jpmorgan Smartretirement and American Funds Volatility Contrast

 Predicted Return Density 
      Returns 

Jpmorgan Smartretirement 2035   vs.  American Funds 2035 Target Dat

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, Jpmorgan Smartretirement is expected to generate 1.25 times less return on investment than American Funds. But when comparing it to its historical volatility, Jpmorgan Smartretirement 2035 Fund R5 Class is 1.08 times less risky than American Funds. It trades about 0.14 of its potential returns per unit of risk. American Funds 2035 Target Date is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest  1,545  in American Funds 2035 Target Date on November 15, 2019 and sell it today you would earn a total of  77.00  from holding American Funds 2035 Target Date or generate 4.98% return on investment over 30 days.

Pair Corralation between Jpmorgan Smartretirement and American Funds

0.99
Time Period3 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Jpmorgan Smartretirement and American Funds

Jpmorgan Smartretirement 2035  diversification synergy

No risk reduction

Overlapping area represents the amount of risk that can be diversified away by holding Jpmorgan Smartretirement 2035 and American Funds 2035 Target Dat in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on American Funds 2035 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 American Funds. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of American Funds 2035 has no effect on the direction of Jpmorgan Smartretirement i.e. Jpmorgan Smartretirement and American Funds go up and down completely randomly.
See also your portfolio center. Please also try Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.


 
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