James Alpha Correlations

JDAEX Fund  USD 13.20  0.10  0.76%   
The current 90-days correlation between James Alpha Managed and Rbb Fund is 0.25 (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

Very weak diversification

The correlation between James Alpha Managed and DJI is 0.46 (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 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

  0.61JACRX James Alpha GlobalPairCorr
  0.62JARIX James Alpha GlobalPairCorr
  0.62JARSX James Alpha GlobalPairCorr
  0.62JAREX James Alpha GlobalPairCorr
  1.0JDCEX James Alpha ManagedPairCorr
  1.0JDIEX James Alpha ManagedPairCorr
  1.0JDSEX James Alpha ManagedPairCorr
  0.8JHQCX Jpmorgan Hedged EquityPairCorr
  0.82JHEQX Jpmorgan Hedged EquityPairCorr
  0.81JHQAX Jpmorgan Hedged EquityPairCorr
  0.97GTENX Gateway Fund ClassPairCorr
  0.97GTEYX Gateway Fund ClassPairCorr
  0.96GATEX Gateway Fund ClassPairCorr
  0.82JHDCX Jpmorgan Hedged EquityPairCorr
  0.78JHDRX Jpmorgan Hedged EquityPairCorr
  0.83JHDAX Jpmorgan Hedged EquityPairCorr

Related Correlations Analysis

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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.