James Alpha Correlations

JASVX Fund

USD 10.44 0.02 0.19%

The current 90-days correlation between James Alpha Structured and James Alpha Managed is 0.11 (i.e., Average 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 0.8 (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 persons.

Moving together with James Mutual Fund

0.96	JARSX	James Alpha Global	Pair Corr
0.99	JASSX	James Alpha Structured	Pair Corr
1.0	JSVCX	James Alpha Structured	Pair Corr
0.99	JSVIX	James Alpha Structured	Pair Corr
0.97	PONAX	Pimco Income	Pair Corr
0.97	PIPNX	Pimco Income	Pair Corr
0.97	PONPX	Pimco Incme Fund	Pair Corr
0.97	PIINX	Pimco Income	Pair Corr
0.97	PIMIX	Pimco Income	Pair Corr
0.93	LBNDX	Lord Abbett Bond	Pair Corr
0.95	FSTAX	Fidelity Advisor Str	Pair Corr
0.96	FSRIX	Fidelity Advisor Str	Pair Corr
0.82	SMPIX	Semiconductor Ultrasector	Pair Corr
0.82	SMPSX	Semiconductor Ultrasector	Pair Corr
0.9	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.89	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.9	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr
0.9	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.85	PMPIX	Precious Metals Ultr Steady Growth	Pair Corr
0.9	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.85	PMPSX	Precious Metals Ultr Steady Growth	Pair Corr
0.84	HRATX	Hartford Growth	Pair Corr
0.8	ASGI	Aberdeen Standard Global	Pair Corr
0.9	ICLLX	Transamerica Asset	Pair Corr
0.91	LFTAX	Lincoln Inflation Plus	Pair Corr
0.83	PKSCX	Virtus Kar Small	Pair Corr
0.75	DMCYX	Dreyfus Opportunistic	Pair Corr
0.93	SGOVX	First Eagle Overseas	Pair Corr
0.96	AMKIX	Emerging Markets	Pair Corr

Related Correlations Analysis

	JACRX	JARIX	JARSX	JAREX	JASVX	JSVCX	JSVIX	JDAEX	JDCEX
JACRX		1.0	0.67	0.93	0.58	0.58	0.57	-0.03	-0.14	JACRX
JARIX	1.0		0.66	0.93	0.58	0.58	0.57	-0.03	-0.14	JARIX
JARSX	0.67	0.66		0.59	0.96	0.96	0.96	0.53	0.44	JARSX
JAREX	0.93	0.93	0.59		0.5	0.49	0.48	-0.14	-0.24	JAREX
JASVX	0.58	0.58	0.96	0.5		1.0	0.99	0.58	0.52	JASVX
JSVCX	0.58	0.58	0.96	0.49	1.0		0.99	0.58	0.53	JSVCX
JSVIX	0.57	0.57	0.96	0.48	0.99	0.99		0.59	0.52	JSVIX
JDAEX	-0.03	-0.03	0.53	-0.14	0.58	0.58	0.59		0.86	JDAEX
JDCEX	-0.14	-0.14	0.44	-0.24	0.52	0.53	0.52	0.86		JDCEX
	JACRX	JARIX	JARSX	JAREX	JASVX	JSVCX	JSVIX	JDAEX	JDCEX

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
JSVCX	+ 1.0	JASVX
JSVIX	+ 0.99	JASVX
JSVIX	+ 0.99	JSVCX
JASVX	+ 0.96	JARSX
JSVCX	+ 0.96	JARSX

High negative correlations

JDCEX	- 0.24	JAREX
JDAEX	- 0.14	JAREX
JDCEX	- 0.14	JARIX
JDCEX	- 0.14	JACRX
JDAEX	- 0.03	JARIX
JDAEX	- 0.03	JACRX

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	0.45	0.14	0.09	1.21	0.36	(0.51)	0.98	(0.89)	2.86
JARIX	0.44	0.15	0.10	1.16	0.37	(0.52)	0.98	(0.84)	2.88
JARSX	0.46	0.19	0.12	(0.97)	0.36	(0.54)	1.13	(0.89)	2.89
JAREX	0.45	0.19	0.12	(0.82)	0.30	(0.51)	1.14	(1.03)	2.94
JASVX	0.08	0.02	(0.63)	2.82	0.00	(0.12)	0.19	(0.10)	0.39
JSVCX	0.07	0.02	(0.57)	2.15	0.00	(0.11)	0.10	(0.10)	0.40
JSVIX	0.07	0.02	(0.59)	0.77	0.00	(0.11)	0.10	(0.10)	0.30
JDAEX	0.29	0.01	(0.17)	(0.79)	0.37	(0.30)	0.49	(0.68)	1.77
JDCEX	0.28	0.01	(0.18)	(0.08)	0.37	(0.31)	0.50	(0.65)	1.71

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