Salient Tactical Correlations

FTGOX Fund

USD 22.79 0.08 0.35%

The current 90-days correlation between Salient Tactical Growth and Lord Abbett Diversified is 0.25 (i.e., Modest 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

Poor diversification

The correlation between Salient Tactical Growth and DJI is 0.75 (i.e., 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 persons.

Moving together with Salient Mutual Fund

0.9	JHQCX	Jpmorgan Hedged Equity	Pair Corr
0.89	JHEQX	Jpmorgan Hedged Equity	Pair Corr
0.89	JHQAX	Jpmorgan Hedged Equity	Pair Corr
0.86	GTENX	Gateway Fund Class	Pair Corr
0.88	GTECX	Gateway Fund Class	Pair Corr
0.86	GTEYX	Gateway Fund Class	Pair Corr
0.86	GATEX	Gateway Fund Class	Pair Corr
0.8	JHDCX	Jpmorgan Hedged Equity	Pair Corr
0.77	JHDRX	Jpmorgan Hedged Equity	Pair Corr
0.8	JHDAX	Jpmorgan Hedged Equity	Pair Corr
0.84	ASCGX	Lebenthal Lisanti Small	Pair Corr
0.69	KNPYX	Kinetics Paradigm	Pair Corr
0.8	RQEIX	Resq Dynamic Allocation	Pair Corr
0.87	OAZMX	Oakmark Fund R6	Pair Corr
0.77	PFJAX	Putnam High Yield	Pair Corr

Related Correlations Analysis

	LIGFX	GPICX	CAARX	PSIBX	TLSHX	GUDAX	JDJRX	VYRPX
LIGFX		0.0	0.94	0.0	0.94	0.0	-0.06	0.95	LIGFX
GPICX	0.0		-0.19	0.0	-0.14	0.0	0.74	0.08	GPICX
CAARX	0.94	-0.19		0.0	0.99	0.0	-0.07	0.95	CAARX
PSIBX	0.0	0.0	0.0		0.0	-1.0	0.0	0.0	PSIBX
TLSHX	0.94	-0.14	0.99	0.0		0.0	-0.02	0.96	TLSHX
GUDAX	0.0	0.0	0.0	-1.0	0.0		0.0	0.0	GUDAX
JDJRX	-0.06	0.74	-0.07	0.0	-0.02	0.0		0.09	JDJRX
VYRPX	0.95	0.08	0.95	0.0	0.96	0.0	0.09		VYRPX
	LIGFX	GPICX	CAARX	PSIBX	TLSHX	GUDAX	JDJRX	VYRPX

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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

TLSHX	+ 0.99	CAARX
VYRPX	+ 0.96	TLSHX
VYRPX	+ 0.95	LIGFX
VYRPX	+ 0.95	CAARX
CAARX	+ 0.94	LIGFX
TLSHX	+ 0.94	LIGFX

High negative correlations

GUDAX	- 1.0	PSIBX
CAARX	- 0.19	GPICX
TLSHX	- 0.14	GPICX
JDJRX	- 0.07	CAARX
JDJRX	- 0.06	LIGFX
JDJRX	- 0.02	TLSHX

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
LIGFX	0.29	(0.01)	(0.06)	(0.04)	0.41	(0.28)	0.50	(0.50)	2.04
GPICX	0.04	0.00	0.00	0.45	0.00	0.00	0.10	(0.10)	0.31
CAARX	0.27	(0.02)	0.00	(0.13)	0.00	0.00	0.45	(0.55)	2.05
PSIBX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TLSHX	0.26	(0.02)	0.00	(0.14)	0.00	0.00	0.47	(0.54)	1.95
GUDAX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
JDJRX	0.40	0.04	0.04	1.64	0.39	(0.47)	0.88	(0.77)	2.00
VYRPX	0.18	(0.02)	0.00	(0.10)	0.00	0.00	0.39	(0.39)	1.74

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