Salient Tactical Correlations

FTGMX Fund

USD 20.68 0.10 0.49%

The current 90-days correlation between Salient Tactical Growth and Income Fund Of is 0.88 (i.e., Very poor diversification). The correlation of Salient Tactical 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.

Salient Tactical Correlation With Market

Very poor diversification

The correlation between Salient Tactical Growth 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 Salient Tactical Growth 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 Salient Tactical Growth. 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 population.

Moving together with Salient Mutual Fund

0.97	FTAGX	Salient Tactical Growth	Pair Corr
0.97	FTGOX	Salient Tactical Growth	Pair Corr
0.97	FTGWX	Salient Tactical Growth	Pair Corr
0.74	KIFAX	Salient Select Income	Pair Corr
0.74	KIFCX	Salient Select Income	Pair Corr
0.73	KIFYX	Salient Select Income	Pair Corr
0.73	KIRAX	Salient International	Pair Corr
0.73	KIRCX	Salient International	Pair Corr
0.68	KIRYX	Salient International	Pair Corr
0.82	SMAPX	Salient Mlp Energy	Pair Corr
0.82	SMFPX	Salient Mlp Energy	Pair Corr
0.82	SMLPX	Salient Mlp Energy	Pair Corr
0.82	SMRPX	Salient Mlp Energy	Pair Corr
0.78	FFIFX	American Funds	Pair Corr
0.78	FAIFX	American Funds	Pair Corr
0.78	IFACX	Income Fund	Pair Corr
0.78	IFAFX	Income Fund	Pair Corr
0.83	AMECX	Income Fund	Pair Corr
0.78	RIDBX	Income Fund	Pair Corr
0.78	CIMEX	Income Fund	Pair Corr
0.78	RIDFX	Income Fund	Pair Corr
0.83	CIMCX	Income Fund	Pair Corr
0.78	CIMFX	Income Fund	Pair Corr
0.73	PDI	Pimco Dynamic Income	Pair Corr
0.68	FTCAX	Templeton Strained Bond	Pair Corr
0.67	PYAIX	Payden Absolute Return	Pair Corr
0.66	BCAAX	Brandywineglobal C	Pair Corr
0.7	PYARX	Payden Absolute Return	Pair Corr
0.95	MIEIX	Mfs Institutional	Pair Corr
0.63	VUIAX	Vanguard Utilities Index	Pair Corr

Moving against Salient Mutual Fund

0.85	USPSX	Profunds Ultrashort	Pair Corr
0.85	USPIX	Profunds Ultrashort	Pair Corr
0.75	UIPIX	Ultrashort Mid Cap	Pair Corr

Related Correlations Analysis

	AMECX	444859BR2	AQUI	BRRAY	LBHIX	ABHYX	MSTSX	VIASP	RRTLX	XTWO
AMECX		-0.04	0.0	-0.25	0.95	0.77	0.92	0.8	0.94	0.83	AMECX
444859BR2	-0.04		0.0	0.58	0.06	-0.02	-0.28	0.37	-0.14	0.23	444859BR2
AQUI	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	AQUI
BRRAY	-0.25	0.58	0.0		-0.15	-0.12	-0.41	0.11	-0.33	0.03	BRRAY
LBHIX	0.95	0.06	0.0	-0.15		0.89	0.85	0.84	0.89	0.93	LBHIX
ABHYX	0.77	-0.02	0.0	-0.12	0.89		0.66	0.71	0.7	0.91	ABHYX
MSTSX	0.92	-0.28	0.0	-0.41	0.85	0.66		0.63	0.97	0.66	MSTSX
VIASP	0.8	0.37	0.0	0.11	0.84	0.71	0.63		0.71	0.84	VIASP
RRTLX	0.94	-0.14	0.0	-0.33	0.89	0.7	0.97	0.71		0.74	RRTLX
XTWO	0.83	0.23	0.0	0.03	0.93	0.91	0.66	0.84	0.74		XTWO
	AMECX	444859BR2	AQUI	BRRAY	LBHIX	ABHYX	MSTSX	VIASP	RRTLX	XTWO

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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

RRTLX	+ 0.97	MSTSX
LBHIX	+ 0.95	AMECX
RRTLX	+ 0.94	AMECX
XTWO	+ 0.93	LBHIX
MSTSX	+ 0.92	AMECX
XTWO	+ 0.91	ABHYX

High negative correlations

MSTSX	- 0.41	BRRAY
RRTLX	- 0.33	BRRAY
MSTSX	- 0.28	444859BR2
BRRAY	- 0.25	AMECX
LBHIX	- 0.15	BRRAY
RRTLX	- 0.14	444859BR2

Risk-Adjusted Indicators

There is a big difference between Salient Mutual Fund performing well and Salient Tactical 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 Salient Tactical'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
AMECX	0.38	0.04	0.00	0.16	0.39	(0.42)	0.86	(0.75)	2.69
444859BR2	0.79	0.02	0.00	0.04	0.00	0.00	1.50	(1.78)	10.44
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRRAY	0.66	0.03	0.00	0.04	0.00	0.00	0.00	0.00	28.38
LBHIX	0.15	0.04	(0.14)	0.38	0.00	(0.31)	0.47	(0.24)	1.45
ABHYX	0.13	0.04	(0.21)	(0.32)	0.00	(0.21)	0.34	(0.22)	1.34
MSTSX	0.60	0.10	0.00	(4.25)	0.66	(0.71)	1.40	(1.22)	4.07
VIASP	1.38	0.18	0.05	1.27	1.76	(1.57)	2.65	(3.00)	13.33
RRTLX	0.30	0.04	(0.14)	(2.11)	0.32	(0.35)	0.73	(0.64)	1.97
XTWO	0.09	0.03	(0.54)	(0.66)	0.00	(0.11)	0.22	(0.12)	0.83

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