Destra Multi-alternativ Correlations

DMA Fund

USD 8.48 0.04 0.47%

The current 90-days correlation between Destra Multi Alternative and Tortoise Capital Series is -0.08 (i.e., Good diversification). The correlation of Destra Multi-alternativ 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.

Destra Multi-alternativ Correlation With Market

Significant diversification

The correlation between Destra Multi Alternative and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Destra Multi Alternative and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Destra Multi Alternative. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Destra Fund

0.61	DIS	Walt Disney	Pair Corr
0.64	MMM	3M Company	Pair Corr

Moving against Destra Fund

0.31

MCD

McDonalds

Pair Corr

Related Correlations Analysis

	IDE	TPZ	NMAI	ECAT	CION	FINS
IDE		0.95	0.97	0.51	0.39	0.17	IDE
TPZ	0.95		0.92	0.47	0.45	0.18	TPZ
NMAI	0.97	0.92		0.5	0.4	0.2	NMAI
ECAT	0.51	0.47	0.5		0.4	-0.18	ECAT
CION	0.39	0.45	0.4	0.4		0.46	CION
FINS	0.17	0.18	0.2	-0.18	0.46		FINS
	IDE	TPZ	NMAI	ECAT	CION	FINS

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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

NMAI	+ 0.97	IDE
TPZ	+ 0.95	IDE
NMAI	+ 0.92	TPZ
ECAT	+ 0.51	IDE
ECAT	+ 0.5	NMAI
ECAT	+ 0.47	TPZ

High negative correlations

FINS

- 0.18

ECAT

Risk-Adjusted Indicators

There is a big difference between Destra Fund performing well and Destra Multi-alternativ 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 Destra Multi-alternativ'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
IDE	0.53	0.31	0.06	(1.52)	0.00	(0.65)	1.48	(0.71)	4.06
TPZ	0.61	0.13	(0.13)	(2.40)	0.69	(0.66)	1.57	(1.20)	4.74
NMAI	0.41	0.09	(0.12)	0.45	0.00	(0.53)	0.97	(0.56)	3.06
ECAT	0.57	0.11	(0.05)	0.50	0.00	(0.71)	1.74	(0.74)	3.62
CION	0.94	0.00	(0.03)	0.23	1.24	(0.99)	1.77	(1.75)	7.66
FINS	0.41	0.01	(0.26)	0.26	0.49	(0.43)	1.20	(1.00)	2.58

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