Salient Tactical Correlations

Mutual Funds . USA . 
Fund . Salient Tactical Growth
FTGOX Fund  USD 22.36  0.02  0.09%   
The current 90-days correlation between Salient Tactical Growth and Touchstone Large Cap is 0.86 (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

Good diversification

The correlation between Salient Tactical Growth and DJI is -0.07 (i.e., Good 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 persons.

Moving together with Salient Mutual Fund

  0.96JHQCX Jpmorgan Hedged EquityPairCorr
  0.96JHEQX Jpmorgan Hedged EquityPairCorr
  0.96JHQAX Jpmorgan Hedged EquityPairCorr
  0.96GTENX Gateway Fund ClassPairCorr
  0.96GTECX Gateway Fund ClassPairCorr
  0.96GTEYX Gateway Fund ClassPairCorr
  0.96GATEX Gateway Fund ClassPairCorr
  0.99JHDCX Jpmorgan Hedged EquityPairCorr
  0.99JHDRX Jpmorgan Hedged EquityPairCorr
  0.99JHDAX Jpmorgan Hedged EquityPairCorr
  0.87FTYPX Fidelity Freedom IndexPairCorr
  0.86FFBTX Fidelity Freedom BlendPairCorr
  0.96GCAVX Gmo Small CapPairCorr
  0.94GQLOX Gmo Quality FundPairCorr
  0.66GHVIX Gmo High YieldPairCorr
  0.97GMCQX Gmo Equity AllocationPairCorr
  0.89CSCO Cisco SystemsPairCorr
  0.7GE GE AerospacePairCorr
  0.88HPQ HP IncPairCorr
  0.64WMT WalmartPairCorr
  0.85AXP American ExpressPairCorr
  0.65PFE Pfizer IncPairCorr
  0.8HD Home DepotPairCorr
  0.79IBM International BusinessPairCorr

Moving against Salient Mutual Fund

  0.62GABFX Gmo Asset AllocationPairCorr
  0.56MGOIX Mainstay GovernmentPairCorr
  0.4GAAVX Gmo Alternative AlloPairCorr
  0.57VZ Verizon CommunicationsPairCorr
  0.53FMUSX Federated MunicipalPairCorr
  0.5KO Coca ColaPairCorr
  0.44TRV The Travelers CompaniesPairCorr
  0.41MCD McDonaldsPairCorr

Related Correlations Analysis

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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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