James Alpha Correlations

JSVIX Fund

USD 10.09 0.01 0.1%

The current 90-days correlation between James Alpha Structured and Neiman Large Cap is 0.16 (i.e., Average 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

Good diversification

The correlation between James Alpha Structured and DJI is -0.16 (i.e., 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 gross domestic product.

Moving together with James Mutual Fund

1.0	JASSX	James Alpha Structured	Pair Corr
0.99	JASVX	James Alpha Structured	Pair Corr
0.97	JSVCX	James Alpha Structured	Pair Corr
0.62	JDIEX	James Alpha Managed	Pair Corr
0.64	JDSEX	James Alpha Managed	Pair Corr
0.94	PONAX	Pimco Income	Pair Corr
0.93	PONCX	Pimco Income	Pair Corr
0.95	PIPNX	Pimco Income	Pair Corr
0.95	PONRX	Pimco Income	Pair Corr
0.95	PONPX	Pimco Incme Fund	Pair Corr
0.95	PIINX	Pimco Income	Pair Corr
0.95	PIMIX	Pimco Income	Pair Corr
0.65	LBNDX	Lord Abbett Bond	Pair Corr
0.79	MGGYX	Mirova Global Green	Pair Corr
0.81	HLDIX	Hartford Emerging	Pair Corr
0.8	HLDRX	Hartford Emerging	Pair Corr
0.8	HLDAX	Hartford Emerging	Pair Corr
0.77	HLDCX	Hartford Emerging	Pair Corr
0.82	HLDTX	Hartford Emerging	Pair Corr
0.77	STABX	Pioneer Short Term	Pair Corr
0.96	TFHAX	T Rowe Price	Pair Corr
0.83	SYFFX	Pioneer Securitized	Pair Corr
0.95	SMRSX	Alpssmith Short Duration	Pair Corr

Moving against James Mutual Fund

0.69	JAREX	James Alpha Global	Pair Corr
0.68	JACRX	James Alpha Global	Pair Corr
0.65	JARIX	James Alpha Global	Pair Corr
0.65	JARSX	James Alpha Global	Pair Corr

Related Correlations Analysis

	NEAMX	SECIX	MKFOX	FCLKX	CMIFX	TALCX	LCIAX
NEAMX		0.95	0.64	0.88	0.69	0.83	0.13	NEAMX
SECIX	0.95		0.66	0.86	0.76	0.77	-0.05	SECIX
MKFOX	0.64	0.66		0.75	0.45	0.52	-0.32	MKFOX
FCLKX	0.88	0.86	0.75		0.69	0.87	0.06	FCLKX
CMIFX	0.69	0.76	0.45	0.69		0.77	-0.2	CMIFX
TALCX	0.83	0.77	0.52	0.87	0.77		0.11	TALCX
LCIAX	0.13	-0.05	-0.32	0.06	-0.2	0.11		LCIAX
	NEAMX	SECIX	MKFOX	FCLKX	CMIFX	TALCX	LCIAX

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

SECIX	+ 0.95	NEAMX
FCLKX	+ 0.88	NEAMX
TALCX	+ 0.87	FCLKX
FCLKX	+ 0.86	SECIX
TALCX	+ 0.83	NEAMX
TALCX	+ 0.77	SECIX

High negative correlations

LCIAX	- 0.32	MKFOX
LCIAX	- 0.2	CMIFX
LCIAX	- 0.05	SECIX

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
NEAMX	0.52	0.05	(0.01)	0.38	0.69	(0.51)	1.06	(1.22)	3.21
SECIX	0.50	0.05	(0.01)	0.43	0.61	(0.51)	0.98	(0.99)	2.96
MKFOX	1.01	0.10	0.07	0.18	1.17	(1.09)	2.12	(2.27)	13.17
FCLKX	0.58	(0.01)	(0.01)	0.06	0.87	(0.54)	1.23	(1.34)	3.46
CMIFX	0.04	0.00	(0.58)	0.54	0.00	(0.10)	0.10	(0.10)	0.21
TALCX	0.60	0.00	(0.01)	0.07	0.93	(0.58)	1.24	(1.31)	5.56
LCIAX	0.80	(0.20)	0.00	(0.15)	0.00	0.00	1.19	(1.57)	13.42

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