@article {Peskin40, author = {K. Stuart Peskin}, title = {Evaluating Multi-Asset Strategies}, volume = {44}, number = {2}, pages = {40--49}, year = {2017}, doi = {10.3905/jpm.2018.44.2.040}, publisher = {Institutional Investor Journals Umbrella}, abstract = {An increasing number of investors are recognizing the many benefits of a multi-asset approach, including the potential for improved diversity, greater liquidity, and reduced volatility. Also advantageous is their ability to fit readily alongside a variety of investment approaches and asset class categories. That said, multi-asset strategies come with challenges. This article addresses a particularly problematic area{\textemdash}how to evaluate multi-asset strategy outcomes. Relying on only one or two measures for evaluation can lead to misinterpretation of the historical investment results achieved. Instead, the author advises using a variety of evaluation techniques. One of these{\textemdash}correlation{\textemdash}is discussed in depth, because the author believes it is misunderstood in many dimensions of multi-asset investing. The author also examines some of the more useful performance and risk analytics, both historical and predictive, that can help to understand what drives multi-asset investment outcomes.TOPIC: Portfolio construction}, issn = {0095-4918}, URL = {https://jpm.pm-research.com/content/44/2/40}, eprint = {https://jpm.pm-research.com/content/44/2/40.full.pdf}, journal = {The Journal of Portfolio Management} }