James Alpha Correlations

JDCEX Fund

USD 12.84 0.04 0.31%

The current 90-days correlation between James Alpha Managed and Nasdaq 100 2x Strategy is 0.88 (i.e., Very poor 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

Weak diversification

The correlation between James Alpha Managed and DJI is 0.34 (i.e., Weak 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 income.

Moving together with JAMES Mutual Fund

1.0	JDAEX	James Alpha Managed	Pair Corr
0.65	JHQCX	Jpmorgan Hedged Equity	Pair Corr
0.95	JHEQX	Jpmorgan Hedged Equity	Pair Corr
0.95	JHQAX	Jpmorgan Hedged Equity	Pair Corr
0.98	GTENX	Gateway Fund Class	Pair Corr
0.69	GTECX	Gateway Fund Class	Pair Corr
0.69	GTEYX	Gateway Fund Class	Pair Corr
0.69	GATEX	Gateway Fund Class	Pair Corr
0.64	JHDCX	Jpmorgan Hedged Equity	Pair Corr
0.9	JHDRX	Jpmorgan Hedged Equity	Pair Corr
0.91	JHDAX	Jpmorgan Hedged Equity	Pair Corr
0.68	FSMMX	Fs Multi Strategy	Pair Corr
0.66	FPXIX	Fidelity Advisor 529	Pair Corr

Related Correlations Analysis

	RYVYX	CBHIX	FEMDX	CDHIX	IGIEX	RYDCX
RYVYX		-0.35	0.42	0.55	0.76	0.64	RYVYX
CBHIX	-0.35		0.23	-0.25	-0.47	-0.51	CBHIX
FEMDX	0.42	0.23		0.69	0.54	0.45	FEMDX
CDHIX	0.55	-0.25	0.69		0.69	0.65	CDHIX
IGIEX	0.76	-0.47	0.54	0.69		0.69	IGIEX
RYDCX	0.64	-0.51	0.45	0.65	0.69		RYDCX
	RYVYX	CBHIX	FEMDX	CDHIX	IGIEX	RYDCX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

IGIEX	+ 0.76	RYVYX
CDHIX	+ 0.69	FEMDX
IGIEX	+ 0.69	CDHIX
RYDCX	+ 0.69	IGIEX
RYDCX	+ 0.65	CDHIX
RYDCX	+ 0.64	RYVYX

High negative correlations

RYDCX	- 0.51	CBHIX
IGIEX	- 0.47	CBHIX
CBHIX	- 0.35	RYVYX
CDHIX	- 0.25	CBHIX

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
RYVYX	1.89	0.10	0.03	0.23	2.63	(1.98)	3.33	(4.83)	12.68
CBHIX	0.19	0.01	(0.23)	(0.20)	0.15	(0.24)	0.36	(0.36)	1.30
FEMDX	0.18	0.02	(0.17)	0.57	0.00	(0.23)	0.35	(0.26)	1.29
CDHIX	0.58	(0.01)	(0.06)	0.03	0.78	(0.61)	1.20	(1.13)	3.77
IGIEX	0.24	0.00	(0.16)	0.09	0.29	(0.30)	0.48	(0.49)	2.17
RYDCX	1.12	0.03	0.01	0.10	1.43	(1.22)	2.44	(1.67)	12.01

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC