James Alpha Correlations

JACRX Fund

USD 13.68 0.12 0.87%

The current 90-days correlation between James Alpha Global and James Alpha Global is 1.0 (i.e., No risk reduction). 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 weak diversification

The correlation between James Alpha Global and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding James Alpha Global 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 Global. 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 metropolitan statistical area.

Moving together with James Mutual Fund

1.0	JARIX	James Alpha Global	Pair Corr
1.0	JARSX	James Alpha Global	Pair Corr
1.0	JAREX	James Alpha Global	Pair Corr
0.65	JASVX	James Alpha Structured	Pair Corr
0.95	DFGEX	Dfa Global Real	Pair Corr
0.94	VGRNX	Vanguard Global Ex	Pair Corr
0.74	DFITX	Dfa International Real	Pair Corr
0.94	VGRLX	Vanguard Global Ex	Pair Corr
0.96	PGRKX	Global Real Estate	Pair Corr
0.96	PGRUX	Global Real Estate	Pair Corr
0.74	MGLAX	Mfs Global Real	Pair Corr
0.75	MGLIX	Mfs Global Real	Pair Corr
0.72	TREMX	T Rowe Price	Pair Corr
0.73	ARBOX	Absolute Convertible	Pair Corr
0.84	HTD	John Hancock Tax	Pair Corr
0.68	SAEMX	Sa Emerging Markets	Pair Corr
0.67	PGLSX	Global Multi Strategy	Pair Corr
0.7	USGDX	Morgan Stanley Government	Pair Corr
0.63	EBSIX	Campbell Systematic Macro	Pair Corr
0.67	VSGDX	Vanguard Short Term	Pair Corr
0.92	DBIWX	Dws Global Macro	Pair Corr
0.8	HWACX	Hotchkis Wiley Value	Pair Corr
0.8	EMBAX	Unconstrained Emerging	Pair Corr
0.67	PSDNX	Putnam Ultra Short	Pair Corr
0.79	VICSX	Vanguard Intermediate-ter	Pair Corr
0.92	RXRPX	American Funds Retirement	Pair Corr
0.69	DLDFX	Destinations Low Duration	Pair Corr
0.74	RMDUX	American Funds Multi	Pair Corr
0.75	HRBDX	Harbor Bond Fund	Pair Corr
0.77	RNCIX	Rivernorth E Opportunity	Pair Corr

Moving against James Mutual Fund

0.44	SMPIX	Semiconductor Ultrasector	Pair Corr
0.44	SMPSX	Semiconductor Ultrasector	Pair Corr

Related Correlations Analysis

	JAREX	JARIX	VGSAX	KIFCX	VGSCX
JAREX		1.0	0.92	-0.76	0.92	JAREX
JARIX	1.0		0.92	-0.77	0.91	JARIX
VGSAX	0.92	0.92		-0.61	1.0	VGSAX
KIFCX	-0.76	-0.77	-0.61		-0.59	KIFCX
VGSCX	0.92	0.91	1.0	-0.59		VGSCX
	JAREX	JARIX	VGSAX	KIFCX	VGSCX

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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

JARIX	+ 1.0	JAREX
VGSCX	+ 1.0	VGSAX
VGSAX	+ 0.92	JAREX
VGSCX	+ 0.92	JAREX
VGSAX	+ 0.92	JARIX
VGSCX	+ 0.91	JARIX

High negative correlations

KIFCX	- 0.77	JARIX
KIFCX	- 0.76	JAREX
KIFCX	- 0.61	VGSAX
VGSCX	- 0.59	KIFCX

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
JAREX	0.76	0.03	0.06	(0.01)	1.00	(0.76)	1.55	(1.38)	3.88
JARIX	0.76	0.04	0.06	(0.01)	0.98	(0.78)	1.53	(1.37)	3.86
VGSAX	0.75	(0.01)	0.00	(0.08)	0.00	0.00	1.62	(1.53)	4.62
KIFCX	0.40	(0.07)	0.00	(1.59)	0.00	0.00	0.79	(0.78)	2.20
VGSCX	0.75	(0.01)	0.00	(0.08)	0.00	0.00	1.59	(1.54)	4.57

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