James Alpha Correlations

JASVX Fund

USD 10.10 0.01 0.1%

The current 90-days correlation between James Alpha Structured and James Alpha Global is 0.07 (i.e., Significant 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 -0.38 (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 real.

Moving together with James Mutual Fund

0.99	JASSX	James Alpha Structured	Pair Corr
0.94	JSVCX	James Alpha Structured	Pair Corr
0.95	JSVIX	James Alpha Structured	Pair Corr
0.68	JDAEX	James Alpha Managed	Pair Corr
0.68	JDCEX	James Alpha Managed	Pair Corr
0.68	JDIEX	James Alpha Managed	Pair Corr
0.68	JDSEX	James Alpha Managed	Pair Corr
0.61	LBNDX	Lord Abbett Bond	Pair Corr
0.61	PDI	Pimco Dynamic Income	Pair Corr
0.72	FTCAX	Templeton Strained Bond	Pair Corr
0.79	PYAIX	Payden Absolute Return	Pair Corr
0.77	PYARX	Payden Absolute Return	Pair Corr
0.81	BCAAX	Brandywineglobal C	Pair Corr
0.77	FAGIX	Fidelity Capital Income	Pair Corr
0.66	MIGYX	Oppenheimer Main Street	Pair Corr
0.7	AFICX	American Funds Funda	Pair Corr
0.66	FMCMX	American Funds Amcap	Pair Corr
0.61	MAWAX	Mfs Aggressive Growth	Pair Corr

Moving against James Mutual Fund

0.67	USPSX	Profunds Ultrashort	Pair Corr
0.66	USPIX	Profunds Ultrashort	Pair Corr
0.53	UIPIX	Ultrashort Mid Cap	Pair Corr

Related Correlations Analysis

	JACRX	JARIX	JARSX	JAREX	JASSX	JASVX	JSVCX	JSVIX	JDAEX	JDCEX
JACRX		0.97	0.97	0.97	-0.3	-0.22	-0.15	-0.28	-0.61	-0.6	JACRX
JARIX	0.97		1.0	1.0	-0.3	-0.21	-0.17	-0.3	-0.62	-0.59	JARIX
JARSX	0.97	1.0		1.0	-0.3	-0.21	-0.17	-0.3	-0.62	-0.59	JARSX
JAREX	0.97	1.0	1.0		-0.31	-0.22	-0.17	-0.31	-0.63	-0.59	JAREX
JASSX	-0.3	-0.3	-0.3	-0.31		0.99	0.94	0.96	0.74	0.74	JASSX
JASVX	-0.22	-0.21	-0.21	-0.22	0.99		0.94	0.95	0.68	0.68	JASVX
JSVCX	-0.15	-0.17	-0.17	-0.17	0.94	0.94		0.99	0.66	0.69	JSVCX
JSVIX	-0.28	-0.3	-0.3	-0.31	0.96	0.95	0.99		0.74	0.76	JSVIX
JDAEX	-0.61	-0.62	-0.62	-0.63	0.74	0.68	0.66	0.74		0.96	JDAEX
JDCEX	-0.6	-0.59	-0.59	-0.59	0.74	0.68	0.69	0.76	0.96		JDCEX
	JACRX	JARIX	JARSX	JAREX	JASSX	JASVX	JSVCX	JSVIX	JDAEX	JDCEX

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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

JARSX	+ 1.0	JARIX
JAREX	+ 1.0	JARIX
JAREX	+ 1.0	JARSX
JASVX	+ 0.99	JASSX
JSVIX	+ 0.99	JSVCX
JARIX	+ 0.97	JACRX

High negative correlations

JDAEX	- 0.63	JAREX
JDAEX	- 0.62	JARSX
JDAEX	- 0.62	JARIX
JDAEX	- 0.61	JACRX
JDCEX	- 0.6	JACRX
JDCEX	- 0.59	JAREX

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	0.55	(0.08)	0.00	(1.05)	0.00	0.00	1.02	(1.47)	3.14
JARIX	0.56	(0.08)	0.00	(0.18)	0.00	0.00	1.02	(1.48)	2.97
JARSX	0.57	(0.08)	0.00	(0.17)	0.00	0.00	1.07	(1.50)	3.04
JAREX	0.57	(0.08)	0.00	(0.18)	0.00	0.00	1.04	(1.48)	3.08
JASSX	0.09	0.02	(0.82)	(0.31)	0.00	(0.16)	0.20	(0.10)	0.69
JASVX	0.09	0.02	(0.71)	(0.24)	0.00	(0.16)	0.20	(0.10)	0.69
JSVCX	0.09	0.01	(0.71)	2.63	0.00	(0.16)	0.21	(0.20)	0.71
JSVIX	0.09	0.01	(0.72)	(3.72)	0.00	(0.15)	0.21	(0.10)	0.71
JDAEX	0.33	0.06	(0.10)	(2.92)	0.40	(0.37)	0.63	(0.72)	2.56
JDCEX	0.32	0.00	(0.11)	0.11	0.42	(0.34)	0.64	(0.74)	2.57

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