JPMorgan Momentum Correlations
| JMOM Etf | USD 52.22 0.15 0.29% |
The correlation of JPMorgan Momentum 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 Momentum moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if JPMorgan Momentum Factor 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.
Poor diversification
The correlation between JPMorgan Momentum Factor and NYA is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding JPMorgan Momentum Factor and NYA in the same portfolio, assuming nothing else is changed.
JPMorgan |
The ability to find closely correlated positions to JPMorgan Momentum 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 Momentum 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 Momentum - 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 Momentum Factor to buy it.
Moving together with JPMorgan Etf
| 0.83 | VUG | Vanguard Growth Index | PairCorr |
| 0.85 | IWF | iShares Russell 1000 Sell-off Trend | PairCorr |
| 0.79 | IVW | iShares SP 500 Sell-off Trend | PairCorr |
| 0.81 | SPYG | SPDR Portfolio SP Sell-off Trend | PairCorr |
| 0.82 | IUSG | iShares Core SP | PairCorr |
| 0.85 | VONG | Vanguard Russell 1000 | PairCorr |
| 0.81 | MGK | Vanguard Mega Cap | PairCorr |
| 0.85 | VRGWX | Vanguard Russell 1000 | PairCorr |
| 0.95 | MTUM | iShares MSCI USA | PairCorr |
| 0.86 | QQQM | Invesco NASDAQ 100 Sell-off Trend | PairCorr |
| 0.65 | ULE | ProShares Ultra Euro | PairCorr |
| 0.63 | PFE | Pfizer Inc Financial Report 6th of August 2024 | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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JPMorgan Momentum Constituents Risk-Adjusted Indicators
There is a big difference between JPMorgan Etf performing well and JPMorgan Momentum ETF 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 Momentum'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| MPRO | 0.33 | 0.01 | (0.01) | 0.04 | 0.44 | 0.63 | 2.22 | |||
| AQUI | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| MSTSX | 0.47 | 0.03 | 0.03 | 0.06 | 0.70 | 0.92 | 3.08 | |||
| ABHYX | 0.15 | 0.00 | (0.08) | 0.07 | 0.14 | 0.34 | 1.03 | |||
| VIASP | 1.28 | 0.36 | 0.16 | 0.27 | 1.70 | 3.96 | 13.41 | |||
| XTWO | 0.10 | 0.00 | (0.15) | 0.02 | 0.10 | 0.16 | 1.29 | |||
| KNG | 0.44 | (0.02) | (0.03) | 0.01 | 0.63 | 0.71 | 2.86 | |||
| OSHDF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| KNF | 1.33 | (0.18) | 0.00 | (0.09) | 0.00 | 2.47 | 8.13 | |||
| AMPL | 6.53 | (0.01) | 0.00 | 0.03 | 0.00 | 16.83 | 43.93 |
Additional Information and Resources on Investing in JPMorgan Etf
When determining whether JPMorgan Momentum Factor is a strong investment it is important to analyze JPMorgan Momentum's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact JPMorgan Momentum's future performance. For an informed investment choice regarding JPMorgan Etf, refer to the following important reports:Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in JPMorgan Momentum Factor. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in persons. You can also try the Commodity Directory module to find actively traded commodities issued by global exchanges.
The market value of JPMorgan Momentum Factor is measured differently than its book value, which is the value of JPMorgan that is recorded on the company's balance sheet. Investors also form their own opinion of JPMorgan Momentum's value that differs from its market value or its book value, called intrinsic value, which is JPMorgan Momentum's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because JPMorgan Momentum's market value can be influenced by many factors that don't directly affect JPMorgan Momentum's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between JPMorgan Momentum's value and its price as these two are different measures arrived at by different means. Investors typically determine if JPMorgan Momentum is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, JPMorgan Momentum's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.