James Alpha Correlations

JDCEX Fund

USD 14.07 0.01 0.07%

The current 90-days correlation between James Alpha Managed and Commonwealth Global Fund is 0.68 (i.e., 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

Very poor diversification

The correlation between James Alpha Managed and DJI is 0.86 (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

0.61	JASSX	James Alpha Structured	Pair Corr
0.63	JASVX	James Alpha Structured	Pair Corr
0.63	JSVCX	James Alpha Structured	Pair Corr
0.62	JSVIX	James Alpha Structured	Pair Corr
0.86	JDAEX	James Alpha Managed	Pair Corr
1.0	JDIEX	James Alpha Managed	Pair Corr
1.0	JDSEX	James Alpha Managed	Pair Corr
0.91	JHEQX	Jpmorgan Hedged Equity	Pair Corr
0.9	JHQAX	Jpmorgan Hedged Equity	Pair Corr
0.98	GTENX	Gateway Fund Class	Pair Corr
0.85	GTECX	Gateway Fund Class	Pair Corr
0.98	GTEYX	Gateway Fund Class	Pair Corr
0.97	GATEX	Gateway Fund Class	Pair Corr
0.95	JHDCX	Jpmorgan Hedged Equity	Pair Corr
0.83	JHDRX	Jpmorgan Hedged Equity	Pair Corr
0.83	SMPIX	Semiconductor Ultrasector	Pair Corr
0.79	SMPSX	Semiconductor Ultrasector	Pair Corr
0.71	PMPSX	Precious Metals Ultr Steady Growth	Pair Corr
0.71	PMPIX	Precious Metals Ultr Steady Growth	Pair Corr
0.62	UJPIX	Ultrajapan Profund	Pair Corr
0.72	EKWYX	Wells Fargo Advantage Steady Growth	Pair Corr
0.74	FRGOX	Franklin Gold Precious	Pair Corr
0.69	EKWAX	Wells Fargo Advantage	Pair Corr
0.72	INIVX	International Investors Steady Growth	Pair Corr
0.99	VFINX	Vanguard 500 Index	Pair Corr
0.65	RDATX	American Funds 2010	Pair Corr
0.68	BRASX	Bats Series S	Pair Corr
0.79	JWWFX	Janus Global Research	Pair Corr
0.71	RYYCX	Sp Smallcap 600	Pair Corr
0.78	APDSX	Artisan Small Cap	Pair Corr
0.84	ACMIX	Absolute Capital Defender	Pair Corr
0.73	PFTPX	Pimco Floating Income	Pair Corr
0.7	BERDX	Carillon Chartwell Mid	Pair Corr
0.68	IPOAX	Ivy Emerging Markets	Pair Corr

Moving against James Mutual Fund

0.53

UJPSX

Ultrajapan Profund

Pair Corr

Related Correlations Analysis

	TBLDX	SGICX	CABIX	USCAX	GUSTX	CNGLX
TBLDX		0.94	0.95	0.91	0.92	0.94	TBLDX
SGICX	0.94		0.92	0.87	0.89	0.9	SGICX
CABIX	0.95	0.92		0.96	0.88	0.96	CABIX
USCAX	0.91	0.87	0.96		0.86	0.94	USCAX
GUSTX	0.92	0.89	0.88	0.86		0.86	GUSTX
CNGLX	0.94	0.9	0.96	0.94	0.86		CNGLX
	TBLDX	SGICX	CABIX	USCAX	GUSTX	CNGLX

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
TBLDX	0.31	0.03	(0.02)	0.12	0.31	(0.34)	0.67	(0.63)	1.76
SGICX	0.65	0.21	0.31	0.45	0.00	(0.86)	1.25	(0.81)	10.77
CABIX	0.45	0.07	0.08	0.18	0.38	(0.52)	0.83	(0.89)	5.68
USCAX	0.87	0.20	0.20	0.27	0.59	(1.10)	2.13	(1.52)	7.96
GUSTX	0.03	0.00	0.00	(0.43)	0.00	0.00	0.20	0.00	0.60
CNGLX	0.60	0.05	0.04	0.12	0.68	(0.67)	1.15	(1.20)	5.46

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