Salient Select Correlations

Mutual Funds . USA . 
Fund . Salient Select Income
KIFYX Fund  USD 17.60  0.02  0.11%   
The current 90-days correlation between Salient Select Income and Intal High Relative is 0.62 (i.e., Poor 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

Poor diversification

The correlation between Salient Select Income and DJI is 0.69 (i.e., Poor 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 services.

Moving together with Salient Mutual Fund

  0.69SBTAX Salient Tactical PlusPairCorr
  0.74SBTIX Salient Tactical PlusPairCorr
  0.74BTPIX Salient Tactical PlusPairCorr
  0.69FTAGX Salient Tactical GrowthPairCorr
  0.69FTGMX Salient Tactical GrowthPairCorr
  0.72FTGOX Salient Tactical GrowthPairCorr
  0.71FTGWX Salient Tactical GrowthPairCorr
  0.9KIFAX Salient Select IncomePairCorr
  0.76CPXIX Cohen Steers PrfrdPairCorr
  0.74CPXAX Cohen Steers PreferdPairCorr
  0.75CPXCX Cohen Steers PrefrdPairCorr
  0.79CPRRX Cohen Steers PreferredPairCorr
  0.77CPXZX Cohen Steers PreferredPairCorr
  0.77CPXFX Cohen Steers PreferredPairCorr
  0.62NPSAX Nuveen Preferred SecPairCorr
  0.63NPSCX Nuveen Preferred SecPairCorr
  0.76PPSJX Preferred SecuritiesPairCorr
  0.61DXQLX Direxion Monthly NasdaqPairCorr
  0.62RYCCX Nasdaq 100 2x Steady GrowthPairCorr
  0.64DXSLX Direxion MonthlyPairCorr
  0.84JABBX Jhancock MultimanagerPairCorr
  0.69RBBEX American Funds BalancedPairCorr
  0.7SHRCX Western Asset CaliforniaPairCorr
  0.71FCVAX Fidelity Small CapPairCorr
  0.61SPSDX Sterling Capital BehPairCorr

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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