%0 Journal Article %A K. Stuart Peskin %T Evaluating Multi-Asset Strategies %D 2017 %R 10.3905/jpm.2018.44.2.040 %J The Journal of Portfolio Management %P 40-49 %V 44 %N 2 %X 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—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—correlation—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 %U https://jpm.pm-research.com/content/iijpormgmt/44/2/40.full.pdf