James Balanced: Correlations

GLRBX Fund

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The current 90-days correlation between James Balanced Golden and Permanent Portfolio Class is 0.79 (i.e., Poor diversification). The correlation of James Balanced: 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 Balanced: Correlation With Market

Good diversification

The correlation between James Balanced Golden and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding James Balanced Golden 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 Balanced Golden. 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 bureau of labor statistics.

Moving together with James Mutual Fund

0.83	JASCX	James Small Cap	Pair Corr
0.85	JAVAX	James Aggressive All	Pair Corr
0.92	GLRIX	James Balanced Golden	Pair Corr
0.67	JMCRX	James Micro Cap	Pair Corr
0.78	DXQLX	Direxion Monthly Nasdaq	Pair Corr
0.77	RYVLX	Nasdaq 100 2x	Pair Corr
0.77	RYVYX	Nasdaq 100 2x	Pair Corr
0.77	UOPIX	Ultra Nasdaq 100	Pair Corr
0.77	RYCCX	Nasdaq 100 2x	Pair Corr
0.77	UOPSX	Ultranasdaq 100 Profund	Pair Corr
0.87	INPIX	Internet Ultrasector	Pair Corr
0.92	INPSX	Internet Ultrasector	Pair Corr
0.73	JHOMX	Jhomx	Pair Corr

Related Correlations Analysis

	PRPFX	BERIX	FMIHX	WTIBX	FPACX
PRPFX		0.86	0.05	0.62	0.78	PRPFX
BERIX	0.86		-0.14	0.83	0.59	BERIX
FMIHX	0.05	-0.14		-0.02	0.23	FMIHX
WTIBX	0.62	0.83	-0.02		0.31	WTIBX
FPACX	0.78	0.59	0.23	0.31		FPACX
	PRPFX	BERIX	FMIHX	WTIBX	FPACX

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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

BERIX	+ 0.86	PRPFX
WTIBX	+ 0.83	BERIX
FPACX	+ 0.78	PRPFX
WTIBX	+ 0.62	PRPFX
FPACX	+ 0.59	BERIX
FPACX	+ 0.31	WTIBX

High negative correlations

FMIHX	- 0.14	BERIX
WTIBX	- 0.02	FMIHX

Risk-Adjusted Indicators

There is a big difference between James Mutual Fund performing well and James Balanced: 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 Balanced:'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
PRPFX	0.52	0.03	0.10	(0.62)	0.64	(0.52)	1.16	(1.19)	2.92
BERIX	0.20	0.03	0.23	0.30	0.15	(0.23)	0.45	(0.30)	1.13
FMIHX	0.87	(0.19)	0.00	(0.30)	0.00	0.00	1.24	(1.44)	10.12
WTIBX	0.25	0.01	0.14	0.35	0.24	(0.30)	0.54	(0.43)	1.42
FPACX	0.46	0.01	0.04	(0.01)	0.66	(0.47)	0.92	(0.97)	2.89

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