James Alpha Correlations

JASSX Fund

USD 10.13 0.01 0.1%

The current 90-days correlation between James Alpha Structured and James Alpha Global is 0.41 (i.e., Very weak diversification). The correlation of James Alpha 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.

James Alpha Correlation With Market

Very good diversification

The correlation between James Alpha Structured and DJI is -0.27 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding James Alpha Structured 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 James Alpha Structured. 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 state.

Moving together with James Mutual Fund

0.99	JASVX	James Alpha Structured	Pair Corr
0.98	JSVCX	James Alpha Structured	Pair Corr
1.0	JSVIX	James Alpha Structured	Pair Corr
0.74	JDAEX	James Alpha Managed	Pair Corr
0.74	JDCEX	James Alpha Managed	Pair Corr
0.75	JDIEX	James Alpha Managed	Pair Corr
0.74	JDSEX	James Alpha Managed	Pair Corr
0.64	LBNDX	Lord Abbett Bond	Pair Corr
0.62	FSRIX	Fidelity Advisor Str	Pair Corr
0.73	INDEX	Sp 500 Equal	Pair Corr
0.75	CMEUX	Six Circles Managed	Pair Corr
0.64	RYVYX	Nasdaq 100 2x	Pair Corr
0.64	PAHHX	T Rowe Price	Pair Corr
0.73	FBALX	Fidelity Balanced	Pair Corr
0.73	VFINX	Vanguard 500 Index	Pair Corr
0.71	VTSAX	Vanguard Total Stock	Pair Corr

Moving against James Mutual Fund

0.32

HLDCX

Hartford Emerging

Pair Corr

Related Correlations Analysis

	JACRX	JARIX	JARSX	JAREX	JSVIX	JDAEX	JDCEX	JDSEX
JACRX		1.0	1.0	1.0	-0.2	-0.56	-0.56	-0.57	JACRX
JARIX	1.0		1.0	1.0	-0.18	-0.55	-0.54	-0.55	JARIX
JARSX	1.0	1.0		1.0	-0.18	-0.55	-0.54	-0.55	JARSX
JAREX	1.0	1.0	1.0		-0.18	-0.55	-0.54	-0.56	JAREX
JSVIX	-0.2	-0.18	-0.18	-0.18		0.72	0.71	0.72	JSVIX
JDAEX	-0.56	-0.55	-0.55	-0.55	0.72		1.0	1.0	JDAEX
JDCEX	-0.56	-0.54	-0.54	-0.54	0.71	1.0		1.0	JDCEX
JDSEX	-0.57	-0.55	-0.55	-0.56	0.72	1.0	1.0		JDSEX
	JACRX	JARIX	JARSX	JAREX	JSVIX	JDAEX	JDCEX	JDSEX

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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

JARIX	+ 1.0	JACRX
JARSX	+ 1.0	JACRX
JAREX	+ 1.0	JACRX
JARSX	+ 1.0	JARIX
JAREX	+ 1.0	JARIX
JAREX	+ 1.0	JARSX

High negative correlations

JDSEX	- 0.57	JACRX
JDSEX	- 0.56	JAREX
JDCEX	- 0.56	JACRX
JDAEX	- 0.56	JACRX
JDAEX	- 0.55	JAREX
JDSEX	- 0.55	JARSX

Risk-Adjusted Indicators

There is a big difference between James Mutual Fund performing well and James Alpha 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 James Alpha'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
JACRX	0.56	(0.08)	0.00	(0.15)	0.00	0.00	1.03	(1.47)	3.51
JARIX	0.56	(0.08)	0.00	(0.14)	0.00	0.00	1.02	(1.48)	3.45
JARSX	0.56	(0.08)	0.00	(0.14)	0.00	0.00	1.07	(1.50)	3.45
JAREX	0.56	(0.08)	0.00	(0.14)	0.00	0.00	1.04	(1.48)	3.52
JSVIX	0.10	0.02	(0.74)	(0.30)	0.00	(0.16)	0.21	(0.10)	0.71
JDAEX	0.34	0.00	(0.11)	0.12	0.39	(0.39)	0.71	(0.72)	2.56
JDCEX	0.33	(0.01)	(0.11)	0.11	0.41	(0.36)	0.74	(0.74)	2.57
JDSEX	0.34	0.00	(0.11)	0.12	0.45	(0.35)	0.75	(0.68)	2.58

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