James Alpha Correlations

JDAEX Fund

USD 13.13 0.03 0.23%

The current 90-days correlation between James Alpha Managed and Global Diversified Income is 0.29 (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

Poor diversification

The correlation between James Alpha Managed and DJI is 0.66 (i.e., Poor 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

1.0	JDCEX	James Alpha Managed	Pair Corr
1.0	JDIEX	James Alpha Managed	Pair Corr
1.0	JDSEX	James Alpha Managed	Pair Corr
0.83	JHQCX	Jpmorgan Hedged Equity	Pair Corr
0.84	JHEQX	Jpmorgan Hedged Equity	Pair Corr
0.84	JHQAX	Jpmorgan Hedged Equity	Pair Corr
0.92	GTENX	Gateway Fund Class	Pair Corr
0.91	GTECX	Gateway Fund Class	Pair Corr
0.92	GTEYX	Gateway Fund Class	Pair Corr
0.91	GATEX	Gateway Fund Class	Pair Corr
0.88	JHDCX	Jpmorgan Hedged Equity	Pair Corr
0.87	JHDRX	Jpmorgan Hedged Equity	Pair Corr
0.87	JHDAX	Jpmorgan Hedged Equity	Pair Corr

Moving against James Mutual Fund

0.45	JASVX	James Alpha Structured	Pair Corr
0.45	JSVCX	James Alpha Structured	Pair Corr
0.45	JSVIX	James Alpha Structured	Pair Corr
0.44	JASSX	James Alpha Structured	Pair Corr
0.4	ABNDX	Bond Fund	Pair Corr
0.4	ABTAX	Government Bond	Pair Corr
0.37	VFIJX	Vanguard Gnma	Pair Corr
0.34	ACTVX	Zero Pon 2025	Pair Corr
0.33	VMSSX	Virtus Multi Sector	Pair Corr

Related Correlations Analysis

	PGBAX	FZABX	MDVSX	CDBCX	JDJRX
PGBAX		0.9	0.53	0.95	0.42	PGBAX
FZABX	0.9		0.61	0.79	0.46	FZABX
MDVSX	0.53	0.61		0.28	0.82	MDVSX
CDBCX	0.95	0.79	0.28		0.2	CDBCX
JDJRX	0.42	0.46	0.82	0.2		JDJRX
	PGBAX	FZABX	MDVSX	CDBCX	JDJRX

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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
PGBAX	0.14	0.01	0.40	0.13	0.07	(0.18)	0.34	(0.25)	0.85
FZABX	0.74	0.11	0.12	0.10	1.01	(0.73)	1.45	(1.37)	6.16
MDVSX	0.65	0.04	0.00	(0.02)	0.00	0.00	1.34	(1.43)	3.79
CDBCX	0.23	0.01	0.24	0.27	0.22	(0.30)	0.56	(0.44)	1.34
JDJRX	0.33	0.00	0.14	(0.02)	0.39	(0.41)	0.66	(0.75)	2.62

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