Destra Multi-alternativ Correlations

DMA Fund

USD 8.96 0.02 0.22%

The current 90-days correlation between Destra Multi Alternative and Voya Asia Pacific is 0.21 (i.e., Modest 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

Very poor diversification

The correlation between Destra Multi Alternative and DJI is 0.84 (i.e., Very 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 board of governors.

Moving together with Destra Fund

0.74	SMPSX	Semiconductor Ultrasector	Pair Corr
0.67	SMPIX	Semiconductor Ultrasector	Pair Corr
0.84	RSNRX	Victory Global Natural	Pair Corr
0.84	RSNYX	Victory Global Natural	Pair Corr
0.76	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.75	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.76	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.84	RGNCX	Victory Global Natural	Pair Corr
0.76	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.73	FSELX	Fidelity Select Semi	Pair Corr
0.89	AA	Alcoa Corp	Pair Corr
0.73	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.84	MRK	Merck Company Earnings Call This Week	Pair Corr
0.69	BA	Boeing	Pair Corr

Moving against Destra Fund

0.75	HPQ	HP Inc	Pair Corr
0.74	T	ATT Inc Earnings Call Today	Pair Corr
0.74	MSFT	Microsoft Earnings Call Today	Pair Corr
0.54	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	PLHHX	AFJAX	TRAOX	IAE	EEA	PGZ	AVEAX	BMPEX	HLFNX	SIBAX
PLHHX		0.89	0.83	0.73	0.53	0.08	0.01	0.79	0.8	0.9	PLHHX
AFJAX	0.89		0.85	0.86	0.53	0.32	0.16	0.58	0.59	0.7	AFJAX
TRAOX	0.83	0.85		0.87	0.48	0.5	0.4	0.5	0.47	0.71	TRAOX
IAE	0.73	0.86	0.87		0.58	0.56	0.42	0.43	0.33	0.55	IAE
EEA	0.53	0.53	0.48	0.58		0.19	0.4	0.42	0.43	0.47	EEA
PGZ	0.08	0.32	0.5	0.56	0.19		0.77	-0.12	-0.37	-0.06	PGZ
AVEAX	0.01	0.16	0.4	0.42	0.4	0.77		-0.11	-0.23	-0.02	AVEAX
BMPEX	0.79	0.58	0.5	0.43	0.42	-0.12	-0.11		0.79	0.76	BMPEX
HLFNX	0.8	0.59	0.47	0.33	0.43	-0.37	-0.23	0.79		0.81	HLFNX
SIBAX	0.9	0.7	0.71	0.55	0.47	-0.06	-0.02	0.76	0.81		SIBAX
	PLHHX	AFJAX	TRAOX	IAE	EEA	PGZ	AVEAX	BMPEX	HLFNX	SIBAX

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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

SIBAX	+ 0.9	PLHHX
AFJAX	+ 0.89	PLHHX
IAE	+ 0.87	TRAOX
IAE	+ 0.86	AFJAX
TRAOX	+ 0.85	AFJAX
TRAOX	+ 0.83	PLHHX

High negative correlations

HLFNX	- 0.37	PGZ
HLFNX	- 0.23	AVEAX
BMPEX	- 0.12	PGZ
BMPEX	- 0.11	AVEAX
SIBAX	- 0.06	PGZ
SIBAX	- 0.02	AVEAX

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
PLHHX	0.54	0.06	0.05	0.14	0.57	(0.60)	1.20	(1.10)	4.48
AFJAX	0.59	0.14	0.13	0.59	0.50	(0.69)	1.46	(1.19)	3.00
TRAOX	0.71	0.08	0.06	0.20	0.61	(0.83)	1.44	(1.27)	4.29
IAE	0.72	0.11	0.08	0.28	0.76	(0.80)	1.87	(1.64)	4.44
EEA	0.70	0.00	(0.03)	0.07	1.38	(0.64)	1.39	(1.55)	7.48
PGZ	0.36	(0.03)	0.00	(0.17)	0.00	0.00	0.79	(0.89)	2.68
AVEAX	1.03	(0.12)	0.00	(0.03)	0.00	0.00	2.00	(2.29)	7.38
BMPEX	0.71	(0.09)	0.00	(0.02)	0.00	0.00	1.38	(1.28)	5.10
HLFNX	1.08	0.07	0.07	0.12	1.08	(1.31)	2.11	(2.08)	12.15
SIBAX	0.45	0.01	(0.03)	0.10	0.58	(0.47)	1.00	(1.01)	3.62

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