James Alpha Correlations

Mutual Funds . USA . 
Fund . James Alpha Structured
JASVX Fund  USD 10.44  0.03  0.29%   
The current 90-days correlation between James Alpha Structured and James Alpha Managed is -0.26 (i.e., Very good 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 poor diversification

The correlation between James Alpha Structured and DJI is 0.82 (i.e., Very poor 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 manufacturing.

Moving together with James Mutual Fund

  0.91JACRX James Alpha GlobalPairCorr
  0.92JARIX James Alpha GlobalPairCorr
  0.91JARSX James Alpha GlobalPairCorr
  0.92JAREX James Alpha GlobalPairCorr
  1.0JASSX James Alpha StructuredPairCorr
  1.0JSVCX James Alpha StructuredPairCorr
  1.0JSVIX James Alpha StructuredPairCorr
  0.64JDAEX James Alpha ManagedPairCorr
  0.65JDIEX James Alpha ManagedPairCorr
  0.65JDSEX James Alpha ManagedPairCorr
  0.96PONCX Pimco IncomePairCorr
  0.96PONAX Pimco IncomePairCorr
  0.96PIPNX Pimco IncomePairCorr
  0.96PONRX Pimco IncomePairCorr
  0.96PONPX Pimco Incme FundPairCorr
  0.96PIINX Pimco IncomePairCorr
  0.96PIMIX Pimco IncomePairCorr
  0.93LBNDX Lord Abbett BondPairCorr
  0.93FSTAX Fidelity Advisor StrPairCorr
  0.93FSRIX Fidelity Advisor StrPairCorr
  0.77MGGYX Mirova Global GreenPairCorr
  0.94HLDIX Hartford EmergingPairCorr
  0.94HLDRX Hartford EmergingPairCorr
  0.94HLDAX Hartford EmergingPairCorr
  0.94HLDCX Hartford EmergingPairCorr
  0.94HLDTX Hartford EmergingPairCorr
  0.84DGOCX Davis OpportunityPairCorr
  0.81SHTCX Columbia Seligman GlobalPairCorr
  0.9PDAMX Pgim Target DatePairCorr
  0.88JMVAX Perkins Mid CapPairCorr
  0.92NVHIX Nuveen Short DurationPairCorr
  0.92ANDIX Aqr InternationalPairCorr
  0.83FSTEX Invesco EnergyPairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
JACRX  0.46  0.14  0.15  0.56  0.31 
(0.53)
 1.09 
(0.81)
 2.69 
JARIX  0.45  0.15  0.15  0.57  0.31 
(0.54)
 1.16 
(0.78)
 2.67 
JARSX  0.46  0.15  0.15  0.57  0.33 
(0.54)
 1.13 
(0.82)
 2.62 
JAREX  0.46  0.14  0.16  0.50  0.28 
(0.52)
 1.14 
(0.82)
 2.48 
JASSX  0.07  0.02 (0.33)(1.86) 0.00 
(0.11)
 0.10 
(0.10)
 0.29 
JASVX  0.08  0.02 (0.35)(0.85) 0.00 
(0.12)
 0.19 
(0.10)
 0.39 
JSVCX  0.07  0.02 (0.31)(1.27) 0.00 
(0.11)
 0.10 
(0.10)
 0.30 
JSVIX  0.07  0.02 (0.34)(1.87) 0.00 
(0.11)
 0.10 
(0.10)
 0.30 
JDAEX  0.29 (0.03)(0.13)(0.02) 0.43 
(0.29)
 0.49 
(0.68)
 1.77 
JDCEX  0.29 (0.03)(0.14)(0.02) 0.42 
(0.30)
 0.50 
(0.71)
 1.71 

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