Destra Multi-alternativ Correlations

DMA Fund

USD 8.97 0.06 0.67%

The current 90-days correlation between Destra Multi Alternative and MFS Government Markets is 0.36 (i.e., Weak diversification). The correlation of Destra Multi-alternativ 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.

Destra Multi-alternativ Correlation With Market

Poor diversification

The correlation between Destra Multi Alternative and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Destra Multi Alternative and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Destra Multi Alternative. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Destra Fund

0.89	FTCAX	Templeton Strained Bond	Pair Corr
0.93	PYAIX	Payden Absolute Return	Pair Corr
0.93	PYARX	Payden Absolute Return	Pair Corr
0.9	BCAAX	Brandywineglobal C	Pair Corr
0.69	DIS	Walt Disney Aggressive Push	Pair Corr
0.62	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.61	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.85	HD	Home Depot	Pair Corr
0.78	HPQ	HP Inc	Pair Corr
0.88	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.73	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.92	CSCO	Cisco Systems Aggressive Push	Pair Corr

Moving against Destra Fund

0.88	USPSX	Profunds Ultrashort Potential Growth	Pair Corr
0.87	USPIX	Profunds Ultrashort Potential Growth	Pair Corr
0.82	UIPIX	Ultrashort Mid Cap	Pair Corr
0.77	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.75	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.65	KO	Coca Cola Aggressive Push	Pair Corr
0.65	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.48	PFE	Pfizer Inc Aggressive Push	Pair Corr

Related Correlations Analysis

	MGF	NPFD	FINS	IHD	NOM	WNMLA	FXBY	GRF	MHF
MGF		0.0	0.65	0.61	0.54	-0.17	-0.15	-0.53	0.54	MGF
NPFD	0.0		0.5	0.29	0.27	0.16	-0.42	0.58	0.1	NPFD
FINS	0.65	0.5		0.63	0.47	-0.15	-0.6	-0.09	0.35	FINS
IHD	0.61	0.29	0.63		0.44	-0.06	-0.51	-0.25	0.13	IHD
NOM	0.54	0.27	0.47	0.44		-0.12	-0.29	-0.08	0.79	NOM
WNMLA	-0.17	0.16	-0.15	-0.06	-0.12		-0.03	0.22	-0.23	WNMLA
FXBY	-0.15	-0.42	-0.6	-0.51	-0.29	-0.03		-0.08	0.01	FXBY
GRF	-0.53	0.58	-0.09	-0.25	-0.08	0.22	-0.08		-0.27	GRF
MHF	0.54	0.1	0.35	0.13	0.79	-0.23	0.01	-0.27		MHF
	MGF	NPFD	FINS	IHD	NOM	WNMLA	FXBY	GRF	MHF

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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

MHF	+ 0.79	NOM
FINS	+ 0.65	MGF
IHD	+ 0.63	FINS
IHD	+ 0.61	MGF
GRF	+ 0.58	NPFD
NOM	+ 0.54	MGF

High negative correlations

FXBY	- 0.6	FINS
GRF	- 0.53	MGF
FXBY	- 0.51	IHD
FXBY	- 0.42	NPFD
FXBY	- 0.29	NOM
MHF	- 0.27	GRF

Risk-Adjusted Indicators

There is a big difference between Destra Fund performing well and Destra Multi-alternativ 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 Destra Multi-alternativ'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
MGF	0.39	(0.04)	0.00	(0.15)	0.00	0.00	0.65	(0.63)	3.48
NPFD	0.43	0.04	(0.11)	0.46	0.45	(0.44)	0.90	(0.87)	2.87
FINS	0.43	0.00	(0.16)	0.16	0.53	(0.48)	1.01	(1.01)	2.75
IHD	0.72	(0.07)	0.00	(0.15)	0.00	0.00	1.69	(1.30)	5.96
NOM	0.61	0.03	(0.11)	(0.27)	0.84	(0.62)	1.41	(1.45)	4.13
WNMLA	1.37	0.27	0.00	0.44	0.00	0.00	1.71	0.00	60.20
FXBY	0.89	(0.10)	0.00	(0.03)	0.00	0.00	0.16	(3.92)	25.22
GRF	0.87	0.09	0.00	0.47	0.90	(1.23)	2.06	(1.33)	7.03
MHF	0.37	(0.01)	(0.20)	(0.07)	0.49	(0.44)	0.86	(0.86)	2.51

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