Salient Select Correlations

Mutual Funds . USA . 
Fund . Salient Select Income
KIFAX Fund  USD 17.81  0.02  0.11%   
The current 90-days correlation between Salient Select Income and Salient Mlp Energy is 0.26 (i.e., Modest diversification). The correlation of Salient Select 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 Select Correlation With Market

Almost no diversification

The correlation between Salient Select Income and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Salient Select Income and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Salient Select Income. 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 nation.

Moving together with Salient Mutual Fund

  0.81SBTAX Salient Tactical PlusPairCorr
  0.81SBTIX Salient Tactical PlusPairCorr
  0.82BTPIX Salient Tactical PlusPairCorr
  0.9FTAGX Salient Tactical GrowthPairCorr
  0.86FTGMX Salient Tactical GrowthPairCorr
  0.89FTGOX Salient Tactical GrowthPairCorr
  0.9FTGWX Salient Tactical GrowthPairCorr
  1.0KIFYX Salient Select IncomePairCorr
  0.73SMAPX Salient Mlp EnergyPairCorr
  0.73SMFPX Salient Mlp EnergyPairCorr
  0.74SMLPX Salient Mlp EnergyPairCorr
  0.74SMRPX Salient Mlp EnergyPairCorr
  0.92CPXAX Cohen Steers PreferdPairCorr
  0.92CPXCX Cohen Steers PrefrdPairCorr
  0.92CPXIX Cohen Steers PrfrdPairCorr
  0.92CPRRX Cohen Steers PreferredPairCorr
  0.92CPXZX Cohen Steers PreferredPairCorr
  0.92CPXFX Cohen Steers PreferredPairCorr
  0.9NPSAX Nuveen Preferred SecPairCorr
  0.9NPSCX Nuveen Preferred SecPairCorr
  0.92PPSJX Preferred SecuritiesPairCorr
  0.76SMPIX Semiconductor UltrasectorPairCorr
  0.75SMPSX Semiconductor UltrasectorPairCorr
  0.79OSPPX Oppenheimer Steelpath MlpPairCorr
  0.79SPMPX Invesco Steelpath MlpPairCorr
  0.79MLPNX Oppenheimer Steelpath MlpPairCorr
  0.79MLPLX Oppenheimer Steelpath MlpPairCorr
  0.88RSNYX Victory Global NaturalPairCorr
  0.79SPMJX Invesco Steelpath MlpPairCorr
  0.88RSNRX Victory Global NaturalPairCorr
  0.79MLPMX Oppenheimer Steelpath MlpPairCorr
  0.85PDEZX Prudential JennisonPairCorr
  0.61PGBEX Blue Chip FundPairCorr
  0.7OGLYX Oppenheimer GlobalPairCorr
  0.84EMLCX Mfs Emerging MarketsPairCorr
  0.89FLRVX Franklin Lifesmart 2020PairCorr
  0.88SRJYX Jpmorgan SmartretirementPairCorr
  0.86FRBCX Regional BankPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Salient Mutual Fund performing well and Salient Select 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 Select'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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