Alternative Asset Correlations

JAAPX Fund

USD 16.97 0.06 0.35%

The current 90-days correlation between Alternative Asset and T Rowe Price is 0.2 (i.e., Modest diversification). The correlation of Alternative Asset 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Alternative Asset Correlation With Market

Very weak diversification

The correlation between Alternative Asset Allocation and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alternative Asset Allocation and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Alternative Asset Allocation. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving together with Alternative Mutual Fund

0.84	BIMBX	Blackrock Alternative	Pair Corr
0.84	BAMBX	Blackrock Alternative	Pair Corr
0.82	BMBCX	Blackrock Alternative	Pair Corr
0.85	BKMBX	Blackrock Systematic	Pair Corr
0.93	BXMYX	Blackstone Alternative	Pair Corr
0.91	GARTX	Goldman Sachs Absolute	Pair Corr
0.9	GCRTX	Goldman Sachs Absolute	Pair Corr
0.93	BXMIX	Blackstone Alternative	Pair Corr
0.88	BXMDX	Blackstone Alternative	Pair Corr
0.83	PFN	Pimco Income Strategy	Pair Corr
0.78	BA	Boeing Earnings Call Today	Pair Corr

Moving against Alternative Mutual Fund

0.49	NXJ	Nuveen New Jersey Potential Growth	Pair Corr
0.48	QSPRX	Aqr Style Premia	Pair Corr
0.48	XNXJX	Nuveen New Jersey	Pair Corr
0.44	XDSMX	Dreyfus Strategic	Pair Corr
0.36	VZ	Verizon Communications Earnings Call This Week	Pair Corr
0.31	T	ATT Inc Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	LYFAX	HCPIX	GTHCX	VGHCX	ETCHX	BHSRX	HGHYX	PRHSX
LYFAX		0.85	0.64	0.91	0.95	0.89	0.91	0.76	LYFAX
HCPIX	0.85		0.78	0.98	0.87	0.92	0.98	0.82	HCPIX
GTHCX	0.64	0.78		0.82	0.66	0.85	0.81	0.92	GTHCX
VGHCX	0.91	0.98	0.82		0.92	0.96	0.99	0.87	VGHCX
ETCHX	0.95	0.87	0.66	0.92		0.89	0.93	0.76	ETCHX
BHSRX	0.89	0.92	0.85	0.96	0.89		0.96	0.94	BHSRX
HGHYX	0.91	0.98	0.81	0.99	0.93	0.96		0.87	HGHYX
PRHSX	0.76	0.82	0.92	0.87	0.76	0.94	0.87		PRHSX
	LYFAX	HCPIX	GTHCX	VGHCX	ETCHX	BHSRX	HGHYX	PRHSX

Risk-Adjusted Indicators

There is a big difference between Alternative Mutual Fund performing well and Alternative Asset Mutual 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 Alternative Asset'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
LYFAX	0.91	0.15	0.08	4.12	0.83	(1.07)	2.00	(1.56)	5.01
HCPIX	0.95	0.13	0.10	0.25	0.86	(1.10)	2.94	(1.48)	6.65
GTHCX	0.83	0.25	0.31	0.57	0.22	(1.12)	1.66	(1.25)	16.06
VGHCX	0.64	0.12	0.12	0.34	0.46	(0.75)	1.94	(0.95)	4.26
ETCHX	1.12	0.24	0.17	0.69	0.92	(1.35)	3.25	(1.81)	6.86
BHSRX	0.66	0.17	0.20	0.51	0.35	(0.85)	1.82	(1.00)	4.84
HGHYX	0.64	0.13	0.15	0.31	0.39	(0.72)	1.91	(0.98)	3.95
PRHSX	0.92	0.33	0.38	0.89	0.03	(1.14)	1.83	(1.09)	15.22

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