James Alpha Correlations

Mutual Funds . USA . 
Fund . James Alpha Managed
JDAEX Fund  USD 13.89  0.04  0.29%   
The current 90-days correlation between James Alpha Managed and James Alpha Global is 0.47 (i.e., Very weak 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 poor diversification

The correlation between James Alpha Managed and DJI is 0.86 (i.e., Very 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

  0.86JACRX James Alpha GlobalPairCorr
  0.87JARIX James Alpha GlobalPairCorr
  0.87JARSX James Alpha GlobalPairCorr
  0.87JAREX James Alpha GlobalPairCorr
  0.93JASSX James Alpha StructuredPairCorr
  0.93JASVX James Alpha StructuredPairCorr
  0.93JSVCX James Alpha StructuredPairCorr
  0.92JSVIX James Alpha StructuredPairCorr
  1.0JDCEX James Alpha ManagedPairCorr
  1.0JDIEX James Alpha ManagedPairCorr
  1.0JDSEX James Alpha ManagedPairCorr
  0.99JHQCX Jpmorgan Hedged EquityPairCorr
  0.99JHEQX Jpmorgan Hedged EquityPairCorr
  0.99JHQAX Jpmorgan Hedged EquityPairCorr
  1.0GTENX Gateway Fund ClassPairCorr
  1.0GTECX Gateway Fund ClassPairCorr
  1.0GTEYX Gateway Fund ClassPairCorr
  1.0GATEX Gateway Fund ClassPairCorr
  0.98JHDCX Jpmorgan Hedged EquityPairCorr
  0.98JHDRX Jpmorgan Hedged EquityPairCorr
  0.98JHDAX Jpmorgan Hedged EquityPairCorr
  1.0VSTSX Vanguard Total StockPairCorr
  1.0VSMPX Vanguard Total StockPairCorr
  1.0VITSX Vanguard Total StockPairCorr
  1.0VFFSX Vanguard 500 IndexPairCorr
  1.0VFIAX Vanguard 500 IndexPairCorr
  0.98VTISX Vanguard Total InterPairCorr
  0.98VTSNX Vanguard Total InterPairCorr
  0.98VTPSX Vanguard Total InterPairCorr
  1.0VINIX Vanguard InstitutionalPairCorr
  1.0VTSAX Vanguard Total StockPairCorr
  0.71PGBRX Putnam Global IncomePairCorr
  1.0SRJAX Jpmorgan SmartretirementPairCorr
  1.0GGEYX Guidestone Fds GrowthPairCorr
  0.73BIDPX Ishares Municipal BondPairCorr
  0.89TSIIX Thornburg StrategicPairCorr
  0.97JGAQX Jpmorgan Value AdvantagePairCorr
  1.0CGFEX Growth FundPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
JACRX  0.51  0.07 (0.02) 0.32  0.56 
(0.56)
 1.34 
(0.96)
 3.24 
JARIX  0.51  0.07 (0.01) 0.33  0.56 
(0.54)
 1.34 
(0.97)
 3.33 
JARSX  0.51  0.07 (0.01) 0.33  0.57 
(0.55)
 1.39 
(0.95)
 3.40 
JAREX  0.50  0.07 (0.02) 0.33  0.53 
(0.55)
 1.35 
(0.96)
 3.33 
JASSX  0.09  0.03 (0.67)(3.30) 0.00 
(0.14)
 0.20 
(0.10)
 0.49 
JASVX  0.10  0.02 (0.84)(1.98) 0.00 
(0.14)
 0.20 
(0.10)
 0.59 
JSVCX  0.09  0.02 (0.81)(1.59) 0.00 
(0.14)
 0.20 
(0.10)
 0.61 
JSVIX  0.10  0.02 (0.73)(1.96) 0.00 
(0.13)
 0.20 
(0.10)
 0.51 
JDAEX  0.35  0.07  0.00  0.29  0.07 
(0.43)
 0.98 
(0.55)
 2.65 
JDCEX  0.37  0.07  0.00  0.28  0.09 
(0.45)
 1.02 
(0.58)
 2.60 

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