James Alpha Correlations

JDSEX Fund  USD 14.03  0.04  0.28%   
The current 90-days correlation between James Alpha Managed and Guidepath Conservative Income is 0.21 (i.e., Modest 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

Modest diversification

The correlation between James Alpha Managed and DJI is 0.26 (i.e., Modest 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

  0.68JASSX James Alpha StructuredPairCorr
  0.68JASVX James Alpha StructuredPairCorr
  0.67JSVCX James Alpha StructuredPairCorr
  0.68JSVIX James Alpha StructuredPairCorr
  1.0JDAEX James Alpha ManagedPairCorr
  1.0JDCEX James Alpha ManagedPairCorr
  1.0JDIEX James Alpha ManagedPairCorr
  0.94JHQCX Jpmorgan Hedged EquityPairCorr
  0.95JHEQX Jpmorgan Hedged EquityPairCorr
  0.95JHQAX Jpmorgan Hedged EquityPairCorr
  0.98GTENX Gateway Fund ClassPairCorr
  0.98GTECX Gateway Fund ClassPairCorr
  0.98GTEYX Gateway Fund ClassPairCorr
  0.98GATEX Gateway Fund ClassPairCorr
  0.94JHDCX Jpmorgan Hedged EquityPairCorr
  0.93JHDRX Jpmorgan Hedged EquityPairCorr
  0.94JHDAX Jpmorgan Hedged EquityPairCorr
  0.81FSMMX Fs Multi StrategyPairCorr
  0.73SPMPX Invesco Steelpath MlpPairCorr
  0.73MLPNX Oppenheimer Steelpath MlpPairCorr
  0.73MLPMX Oppenheimer Steelpath MlpPairCorr
  0.73SPMJX Invesco Steelpath MlpPairCorr
  0.62PRFRX T Rowe PricePairCorr
  0.76FPXIX Fidelity Advisor 529PairCorr
  0.62USMBX Columbia Ultra ShortPairCorr
  0.92ALMAX Alger Smidcap FocusPairCorr

Moving against James Mutual Fund

  0.57FMFFX Fs Managed FuturesPairCorr

Related Correlations Analysis

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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   
FHCOXGPICX
SRDAXFHCOX
SRDAXGPICX
WCAFXISFYX
FPTPXWDIAX
WCAFXFPTPX
  
High negative correlations   
SRDAXWDIAX
FPTPXSRDAX
FPTPXFHCOX
WDIAXFHCOX
FPTPXGPICX
WDIAXGPICX

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.