Salient Alternative Correlations

Mutual Funds . USA . 
Fund . Salient Alternative Beta
SABCX Fund  USD 11.93  0.06  0.51%   
The current 90-days correlation between Salient Alternative Beta and Salient Alternative Beta is 1.0 (i.e., No risk reduction). The correlation of Salient Alternative 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 Alternative Correlation With Market

Almost no diversification

The correlation between Salient Alternative Beta and DJI is 0.95 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Salient Alternative Beta and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Salient Alternative Beta. 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 main economic indicators.

Moving together with Salient Mutual Fund

  1.0SABIX Aggressive BalancedPairCorr
  1.0SAMAX Moderately AggressivePairCorr
  0.92SSCCX Small CapitalizationPairCorr
  0.98SSCPX Small CapitalizationPairCorr
  0.98SSCYX Small CapitalizationPairCorr
  1.0SBMCX Moderate BalancedPairCorr
  0.9STPIX Technology CommunicationsPairCorr
  0.98SCAAX Conservative BalancedPairCorr
  0.98SUMCX Conservative BalancedPairCorr
  0.72SEPIX Energy Basic MaterialsPairCorr
  0.89SFPIX Financial ServicesPairCorr
  0.97LUNAX Conservative BalancedPairCorr
  0.87FFIFX American FundsPairCorr
  0.87FAIFX American FundsPairCorr
  0.87IFACX Income FundPairCorr
  0.76IFAFX Income FundPairCorr
  0.87AMECX Income FundPairCorr
  0.88RIDBX Income FundPairCorr
  0.87CIMEX Income FundPairCorr
  0.87RIDFX Income FundPairCorr
  0.87CIMCX Income FundPairCorr
  0.87CIMFX Income FundPairCorr
  0.68VPKIX Vanguard Pacific StockPairCorr
  0.8PIEFX Pnc Emerging MarketsPairCorr
  0.7SGLYX Simt Global ManagedPairCorr

Moving against Salient Mutual Fund

  0.64JAFYX John Hancock VariablePairCorr
  0.59SMNAX Steward Equity MarketPairCorr
  0.51TBFIX Thrivent Government BondPairCorr
  0.47HUBAX Hartford Ultrashort BondPairCorr
  0.46MASNX Litman Gregory MastersPairCorr
  0.39AGOVX Invesco GovernmentPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Salient Mutual Fund performing well and Salient Alternative 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 Alternative'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SABAX  0.89  0.04  0.00 (0.02) 0.00 
 0.00 
 1.76 
(1.91)
 8.55 
SABIX  0.89  0.04  0.00 (0.02) 0.00 
 0.00 
 1.77 
(1.90)
 8.58 
SABCX  0.90  0.04  0.00 (0.03) 0.00 
 0.00 
 1.77 
(2.01)
 8.60 
SAMAX  0.79  0.04  0.00 (0.02) 0.00 
 0.00 
 1.51 
(1.73)
 7.48 
SAMCX  0.80  0.04  0.00 (0.02) 0.00 
 0.00 
 1.44 
(1.66)
 7.39 
SAMIX  0.79  0.04  0.00 (0.02) 0.00 
 0.00 
 1.50 
(1.63)
 7.43 
SSCCX  1.39 (0.12) 0.00  0.61  0.00 
 0.00 
 3.13 
(3.12)
 13.47 
SSCPX  1.35  0.01  0.00 (0.07) 0.00 
 0.00 
 2.55 
(3.19)
 11.01 
SSCYX  1.35  0.00  0.00 (0.07) 0.00 
 0.00 
 2.63 
(3.11)
 11.27 
SBCCX  0.70  0.03  0.00 (0.02) 0.00 
 0.00 
 1.30 
(1.53)
 6.36 

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