Destra Multi-alternativ Correlations

DMA Fund

USD 8.38 0.18 2.10%

The current 90-days correlation between Destra Multi Alternative and Voya Asia Pacific is 0.1 (i.e., Average 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 0.69 (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 state.

Moving together with Destra Fund

0.8	CSQ	Calamos Strategic Total	Pair Corr
0.8	TMAAX	Thrivent Moderately	Pair Corr
0.86	FOBPX	Balanced Fund Instit	Pair Corr
0.81	RMQAX	Monthly Rebalance	Pair Corr
0.67	CVSIX	Calamos Market Neutral	Pair Corr
0.71	PIGFX	Pioneer Fundamental	Pair Corr
0.65	RSLBX	Smallcap World	Pair Corr
0.63	FHIFX	Fidelity Focused High	Pair Corr
0.67	CWGCX	Capital World Growth	Pair Corr
0.78	MRCEX	Meridian Equity Income	Pair Corr
0.78	VVOIX	Invesco Value Opport	Pair Corr
0.69	PRIVX	Sharespost 100	Pair Corr
0.79	DNVYX	Davis New York	Pair Corr
0.78	RYOFX	Royce Opportunity	Pair Corr
0.69	AAGPX	American Beacon Large	Pair Corr
0.84	GBAYX	Balanced Allocation	Pair Corr
0.74	RPHYX	Riverpark Short Term	Pair Corr
0.75	ANFCX	New Economy Fund	Pair Corr
0.73	AASMX	Thrivent Small Cap	Pair Corr
0.81	RYFCX	Financial Services	Pair Corr
0.69	ANFVX	Allianzgi Nfj Small	Pair Corr

Moving against Destra Fund

0.41

CYCL

Centennial Communications

Pair Corr

Related Correlations Analysis

	PLHHX	AFJAX	TRAOX	IAE	EEA	PGZ	AVEAX	BMPEX	HLFNX	SIBAX
PLHHX		0.93	0.91	0.9	0.77	0.6	0.53	0.27	0.56	0.66	PLHHX
AFJAX	0.93		0.95	0.97	0.78	0.68	0.6	0.07	0.35	0.47	AFJAX
TRAOX	0.91	0.95		0.92	0.71	0.81	0.67	-0.05	0.27	0.39	TRAOX
IAE	0.9	0.97	0.92		0.75	0.71	0.6	0.05	0.27	0.42	IAE
EEA	0.77	0.78	0.71	0.75		0.51	0.59	0.09	0.4	0.43	EEA
PGZ	0.6	0.68	0.81	0.71	0.51		0.76	-0.39	-0.14	-0.01	PGZ
AVEAX	0.53	0.6	0.67	0.6	0.59	0.76		-0.18	0.02	0.14	AVEAX
BMPEX	0.27	0.07	-0.05	0.05	0.09	-0.39	-0.18		0.75	0.8	BMPEX
HLFNX	0.56	0.35	0.27	0.27	0.4	-0.14	0.02	0.75		0.79	HLFNX
SIBAX	0.66	0.47	0.39	0.42	0.43	-0.01	0.14	0.8	0.79		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

IAE	+ 0.97	AFJAX
TRAOX	+ 0.95	AFJAX
AFJAX	+ 0.93	PLHHX
IAE	+ 0.92	TRAOX
TRAOX	+ 0.91	PLHHX
IAE	+ 0.9	PLHHX

High negative correlations

BMPEX	- 0.39	PGZ
BMPEX	- 0.18	AVEAX
HLFNX	- 0.14	PGZ
BMPEX	- 0.05	TRAOX
SIBAX	- 0.01	PGZ

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	0.57	0.08	0.05	4.33	0.64	(0.63)	1.20	(1.43)	4.48
AFJAX	0.66	0.11	0.07	9.47	0.80	(0.69)	1.46	(1.53)	3.91
TRAOX	0.71	0.13	0.10	6.96	0.59	(0.84)	1.34	(1.20)	4.29
IAE	0.75	0.14	0.11	0.68	0.72	(0.84)	2.22	(1.62)	5.38
EEA	0.69	0.02	0.00	0.08	1.31	(0.68)	1.26	(1.55)	7.35
PGZ	0.37	0.05	0.02	0.27	0.45	(0.41)	0.83	(0.71)	2.22
AVEAX	1.10	(0.08)	0.00	(0.02)	0.00	0.00	2.04	(2.29)	5.59
BMPEX	0.77	(0.12)	0.00	(0.06)	0.00	0.00	1.40	(2.14)	5.10
HLFNX	1.12	0.02	0.03	0.06	1.30	(1.32)	2.11	(2.57)	13.03
SIBAX	0.46	(0.03)	0.00	(0.03)	0.00	0.00	0.71	(1.03)	3.62

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