Salient Tactical Correlations

Mutual Funds . USA . 
Fund . Salient Tactical Growth
FTGMX Fund  USD 22.44  0.28  1.23%   
The current 90-days correlation between Salient Tactical Growth and Allianzgi Technology Fund is -0.12 (i.e., Good 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 0.84 (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 industry.

Moving together with Salient Mutual Fund

  0.96SBTAX Salient Tactical PlusPairCorr
  0.96SBTIX Salient Tactical PlusPairCorr
  0.96BTPIX Salient Tactical PlusPairCorr
  0.94FTAGX Salient Tactical GrowthPairCorr
  0.94FTGOX Salient Tactical GrowthPairCorr
  0.94FTGWX Salient Tactical GrowthPairCorr
  0.85FFIFX American FundsPairCorr
  0.84FAIFX American FundsPairCorr
  0.82IFACX Income FundPairCorr
  0.84IFAFX Income FundPairCorr
  0.84AMECX Income FundPairCorr
  0.82RIDBX Income FundPairCorr
  0.83CIMEX Income FundPairCorr
  0.85RIDFX Income FundPairCorr
  0.82CIMCX Income FundPairCorr
  0.84CIMFX Income FundPairCorr
  0.87ERH Allspring Utilities AndPairCorr
  0.7WHIAX Ivy High IncomePairCorr
  0.69IVHIX Ivy High IncomePairCorr
  0.68IHIFX Ivy High IncomePairCorr
  0.72WHIYX Ivy High IncomePairCorr
  0.96FPCGX Fort Pitt CapitalPairCorr
  0.84AMEFX Income FundPairCorr
  0.89FEVAX First Eagle ValuePairCorr
  0.97ARGVX One Choice 2060PairCorr
  0.91FWMIX Washington MutualPairCorr
  0.84MXFDX Great-west CorePairCorr
  0.91MVEIX Monteagle Select ValuePairCorr
  0.76PCLNX Pimco CommoditiesplusPairCorr
  0.86BPGIX Boston Partners GlobalPairCorr

Related Correlations Analysis


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.

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