James Alpha Correlations

JDAEX Fund

USD 14.80 0.02 0.13%

The current 90-days correlation between James Alpha Managed and James Alpha Managed is 0.04 (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 poor diversification

The correlation between James Alpha Managed and DJI is 0.84 (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 Managed 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 Managed. 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 discontinued.

Moving together with James Mutual Fund

0.7	JACRX	James Alpha Global	Pair Corr
0.71	JARIX	James Alpha Global	Pair Corr
0.71	JAREX	James Alpha Global	Pair Corr
0.72	JASSX	James Alpha Structured	Pair Corr
0.7	JASVX	James Alpha Structured	Pair Corr
0.7	JSVCX	James Alpha Structured	Pair Corr
0.72	JSVIX	James Alpha Structured	Pair Corr
0.87	JDCEX	James Alpha Managed	Pair Corr
1.0	JDIEX	James Alpha Managed	Pair Corr
0.88	JDSEX	James Alpha Managed	Pair Corr
0.95	JHQCX	Jpmorgan Hedged Equity	Pair Corr
0.85	JHEQX	Jpmorgan Hedged Equity	Pair Corr
0.95	JHQAX	Jpmorgan Hedged Equity	Pair Corr
0.88	GTENX	Gateway Fund Class	Pair Corr
0.98	GTECX	Gateway Fund Class	Pair Corr
0.88	GTEYX	Gateway Fund Class	Pair Corr
0.98	GATEX	Gateway Fund Class	Pair Corr
0.85	JHDCX	Jpmorgan Hedged Equity	Pair Corr
0.85	JHDRX	Jpmorgan Hedged Equity	Pair Corr
0.98	JHDAX	Jpmorgan Hedged Equity	Pair Corr
0.75	NHS	Neuberger Berman High	Pair Corr
0.75	PSHIX	Short Term Income	Pair Corr
0.71	GGIJX	Goldman Sachs Global	Pair Corr
0.82	APDFX	Artisan High Income	Pair Corr
0.78	FEAMX	First Eagle Fund	Pair Corr
0.95	RDLTX	American Funds 2065	Pair Corr
0.71	VEOIX	Vanguard Trustees Equity	Pair Corr
0.74	LBISX	Legg Mason Bw	Pair Corr
0.64	FACCX	Nuveen All American	Pair Corr
0.76	GRGUX	Goldman Sachs Growth	Pair Corr
0.73	MMJDX	Massmutual Advantage	Pair Corr
0.77	DHSIX	Diamond Hill Small	Pair Corr
0.62	FRNJX	Franklin New Jersey	Pair Corr
0.79	QNTAX	Quantex Fund Adviser	Pair Corr
0.75	APHQX	Artisan Mid Cap	Pair Corr
0.88	KCGIX	Kngt Clb Larg	Pair Corr
0.84	MXNYX	Great West Lifetime	Pair Corr
0.74	DDFIX	Invesco Diversified	Pair Corr
0.73	CIMYX	Columbia Amt Free	Pair Corr
0.68	QLENX	Aqr Long Short	Pair Corr

Related Correlations Analysis

	JACRX	JARIX	JARSX	JAREX	JASSX	JASVX	JSVCX	JDCEX	JDSEX
JACRX		0.98	0.98	0.98	0.9	0.9	0.89	0.67	0.71	JACRX
JARIX	0.98		1.0	1.0	0.89	0.9	0.88	0.65	0.69	JARIX
JARSX	0.98	1.0		1.0	0.89	0.89	0.88	0.65	0.69	JARSX
JAREX	0.98	1.0	1.0		0.89	0.89	0.88	0.65	0.69	JAREX
JASSX	0.9	0.89	0.89	0.89		0.99	0.98	0.69	0.74	JASSX
JASVX	0.9	0.9	0.89	0.89	0.99		0.99	0.69	0.75	JASVX
JSVCX	0.89	0.88	0.88	0.88	0.98	0.99		0.69	0.75	JSVCX
JDCEX	0.67	0.65	0.65	0.65	0.69	0.69	0.69		1.0	JDCEX
JDSEX	0.71	0.69	0.69	0.69	0.74	0.75	0.75	1.0		JDSEX
	JACRX	JARIX	JARSX	JAREX	JASSX	JASVX	JSVCX	JDCEX	JDSEX

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	0.46	0.11	0.07	0.46	0.34	(0.52)	1.04	(0.81)	2.69
JARIX	0.45	0.14	0.06	(2.50)	0.34	(0.53)	0.98	(0.78)	2.67
JARSX	0.46	0.14	0.06	(2.51)	0.36	(0.52)	1.03	(0.82)	2.62
JAREX	0.46	0.13	0.06	(3.63)	0.38	(0.52)	1.05	(0.82)	2.48
JASSX	0.06	0.02	(0.69)	(1.66)	0.00	(0.10)	0.10	(0.10)	0.29
JASVX	0.08	0.02	(0.68)	0.79	0.00	(0.11)	0.19	(0.10)	0.39
JSVCX	0.07	0.01	(0.58)	1.01	0.00	(0.11)	0.10	(0.10)	0.40
JDCEX	0.29	(0.02)	(0.17)	0.03	0.37	(0.32)	0.51	(0.65)	1.99
JDSEX	0.29	(0.02)	(0.16)	0.05	0.35	(0.33)	0.53	(0.65)	2.06

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James Alpha Correlations

James Alpha Correlation With Market

Very poor diversification

Moving together with James Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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