James Alpha Correlations

JDCEX Fund

USD 13.44 0.06 0.45%

The current 90-days correlation between James Alpha Managed and Barings Active Short is -0.07 (i.e., Good 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 0.69 (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

0.99	JHQCX	Jpmorgan Hedged Equity	Pair Corr
0.99	JHEQX	Jpmorgan Hedged Equity	Pair Corr
0.99	JHQAX	Jpmorgan Hedged Equity	Pair Corr
1.0	GTENX	Gateway Fund Class	Pair Corr
1.0	GTECX	Gateway Fund Class	Pair Corr
1.0	GTEYX	Gateway Fund Class	Pair Corr
1.0	GATEX	Gateway Fund Class	Pair Corr
0.89	JHDCX	Jpmorgan Hedged Equity	Pair Corr
0.89	JHDRX	Jpmorgan Hedged Equity	Pair Corr
0.99	JHDAX	Jpmorgan Hedged Equity	Pair Corr
0.89	FSMMX	Fs Multi Strategy	Pair Corr
0.92	BTMPX	Ishares Msci Eafe	Pair Corr
0.93	BTMKX	Blackrock International	Pair Corr
0.93	MDIIX	Blackrock Intern Index	Pair Corr
0.99	CSRYX	Columbia Select Large	Pair Corr
0.92	RIVKX	American Funds Inter	Pair Corr
0.97	SPSDX	Sterling Capital Beh	Pair Corr
0.94	PSHAX	Short Term Fund	Pair Corr
0.96	FDEGX	Fidelity Growth Stra	Pair Corr
1.0	DQIYX	Dreyfus Equity Income	Pair Corr
0.97	FFFCX	Fidelity Freedom 2010	Pair Corr
0.96	FISVX	Fidelity Small Cap	Pair Corr
0.62	CAT	Caterpillar	Pair Corr
0.63	CVX	Chevron Corp	Pair Corr

Moving against James Mutual Fund

0.57	MCD	McDonalds	Pair Corr
0.41	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	BXDCX	ATOAX	CMGUX	FUEMX	DMBAX	ASCLX
BXDCX		0.95	0.97	0.96	0.97	0.93	BXDCX
ATOAX	0.95		0.98	0.99	0.97	0.92	ATOAX
CMGUX	0.97	0.98		0.98	0.98	0.95	CMGUX
FUEMX	0.96	0.99	0.98		0.98	0.94	FUEMX
DMBAX	0.97	0.97	0.98	0.98		0.97	DMBAX
ASCLX	0.93	0.92	0.95	0.94	0.97		ASCLX
	BXDCX	ATOAX	CMGUX	FUEMX	DMBAX	ASCLX

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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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
BXDCX	0.09	0.02	(1.32)	14.03	(0.16)	0.22	(0.11)	0.76
ATOAX	0.02	0.00	0.00	0.92	0.00	0.00	0.00	0.30
CMGUX	0.05	0.01	0.00	1.40	0.00	0.11	0.00	0.55
FUEMX	0.04	0.01	0.00	4.10	0.00	0.10	0.00	0.50
DMBAX	0.05	0.02	0.00	(17.35)	0.00	0.16	(0.08)	0.32
ASCLX	0.22	0.04	(0.37)	0.36	(0.28)	0.61	(0.39)	1.71

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