James Alpha Correlations

JASSX Fund

USD 10.25 0.02 0.19%

The current 90-days correlation between James Alpha Structured and 1919 Financial Services is 0.14 (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

Average diversification

The correlation between James Alpha Structured and DJI is 0.11 (i.e., Average 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 state.

Moving together with James Mutual Fund

0.66	JACRX	James Alpha Global	Pair Corr
0.63	JARIX	James Alpha Global	Pair Corr
0.63	JARSX	James Alpha Global	Pair Corr
0.62	JAREX	James Alpha Global	Pair Corr
0.95	JASVX	James Alpha Structured	Pair Corr
0.94	JSVCX	James Alpha Structured	Pair Corr
0.72	JSVIX	James Alpha Structured	Pair Corr
0.89	PONAX	Pimco Income	Pair Corr
0.95	PONCX	Pimco Income	Pair Corr
0.95	PIPNX	Pimco Income	Pair Corr
0.9	PONRX	Pimco Income	Pair Corr
0.69	PONPX	Pimco Incme Fund	Pair Corr
0.96	PIINX	Pimco Income	Pair Corr
0.89	PIMIX	Pimco Income	Pair Corr
0.67	VTISX	Vanguard Total Inter	Pair Corr
0.67	VTSNX	Vanguard Total Inter	Pair Corr
0.64	VTPSX	Vanguard Total Inter	Pair Corr
0.85	CMBZX	Columbia Emerging Markets	Pair Corr
0.76	RGVCX	Us Government Securities	Pair Corr
0.74	MWTRX	Metropolitan West Total	Pair Corr
0.86	IIIAX	Voya International Index	Pair Corr
0.9	PTATX	T Rowe Price	Pair Corr

Moving against James Mutual Fund

0.49	JDCEX	James Alpha Managed	Pair Corr
0.47	JDAEX	James Alpha Managed	Pair Corr
0.47	JDIEX	James Alpha Managed	Pair Corr
0.44	JDSEX	James Alpha Managed	Pair Corr
0.56	VITSX	Vanguard Total Stock	Pair Corr
0.56	VTSAX	Vanguard Total Stock	Pair Corr
0.54	VFIAX	Vanguard 500 Index	Pair Corr
0.52	VSTSX	Vanguard Total Stock	Pair Corr
0.52	VSMPX	Vanguard Total Stock	Pair Corr
0.5	VFFSX	Vanguard 500 Index	Pair Corr
0.5	VINIX	Vanguard Institutional	Pair Corr

Related Correlations Analysis

	SBFAX	MCBXX	GCFSX	FNPIX	FAFSX	FTIXX	PGFMX
SBFAX		0.0	0.62	0.99	0.91	0.0	0.74	SBFAX
MCBXX	0.0		0.0	0.0	0.0	0.0	0.0	MCBXX
GCFSX	0.62	0.0		0.64	0.37	0.0	0.9	GCFSX
FNPIX	0.99	0.0	0.64		0.9	0.0	0.76	FNPIX
FAFSX	0.91	0.0	0.37	0.9		0.0	0.6	FAFSX
FTIXX	0.0	0.0	0.0	0.0	0.0		0.0	FTIXX
PGFMX	0.74	0.0	0.9	0.76	0.6	0.0		PGFMX
	SBFAX	MCBXX	GCFSX	FNPIX	FAFSX	FTIXX	PGFMX

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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

FNPIX	+ 0.99	SBFAX
FAFSX	+ 0.91	SBFAX
PGFMX	+ 0.9	GCFSX
FAFSX	+ 0.9	FNPIX
PGFMX	+ 0.76	FNPIX
PGFMX	+ 0.74	SBFAX

High negative correlations

PGFMX	- 0.0	FTIXX
FTIXX	- 0.0	FAFSX
FTIXX	- 0.0	FNPIX
FTIXX	- 0.0	GCFSX
PGFMX	- 0.0	MCBXX
FTIXX	- 0.0	MCBXX

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
SBFAX	0.79	0.01	0.00	(0.02)	0.00	0.00	1.69	(1.92)	5.22
MCBXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GCFSX	0.75	0.04	0.07	(0.41)	1.04	(0.76)	1.80	(2.41)	4.68
FNPIX	1.27	0.06	0.02	0.01	1.87	(1.25)	2.66	(3.48)	9.08
FAFSX	0.91	(0.04)	0.00	(0.07)	0.00	0.00	1.71	(2.71)	6.26
FTIXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PGFMX	0.39	(0.03)	0.00	0.16	0.00	0.00	0.85	(0.86)	2.21

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