Salient International Correlations

KIRCX Fund

USD 13.16 0.01 0.08%

The current 90-days correlation between Salient International and HUMANA INC is 0.08 (i.e., Significant diversification). The correlation of Salient International 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 International Correlation With Market

Very weak diversification

The correlation between Salient International Real and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Salient International Real 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 International Real. 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

0.89	KIRAX	Salient International	Pair Corr
0.89	KIRYX	Salient International	Pair Corr
0.96	DFGEX	Dfa Global Real	Pair Corr
0.8	VGRNX	Vanguard Global Ex	Pair Corr
0.85	DFITX	Dfa International Real	Pair Corr
0.8	VGRLX	Vanguard Global Ex	Pair Corr
0.94	PGRKX	Global Real Estate	Pair Corr
0.94	PGRUX	Global Real Estate	Pair Corr
0.88	PGRVX	Global Real Estate	Pair Corr
0.95	MGLAX	Mfs Global Real	Pair Corr
0.89	MGLIX	Mfs Global Real	Pair Corr
0.8	CSJZX	Cohen Steers Realty	Pair Corr
0.8	CSRSX	Cohen Steers Realty	Pair Corr

Moving against Salient Mutual Fund

0.49	SMAPX	Salient Mlp Energy	Pair Corr
0.49	SMFPX	Salient Mlp Energy	Pair Corr
0.49	SMLPX	Salient Mlp Energy	Pair Corr
0.49	SMRPX	Salient Mlp Energy	Pair Corr
0.37	SBTCX	Salient Tactical Plus	Pair Corr
0.49	NML	Neuberger Berman Mlp	Pair Corr
0.46	NUSAX	Nationwide Government	Pair Corr
0.44	WCPSX	Mobile Telecommunicatio	Pair Corr
0.35	LGPIX	Large Cap Growth	Pair Corr
0.31	NAESX	Vanguard Small Cap	Pair Corr

Related Correlations Analysis

	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF	VIASP	AAEVX
444859BR2		0.0	0.22	-0.53	-0.54	-0.03	0.41	-0.41	-0.69	444859BR2
AQUI	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	AQUI
BRRAY	0.22	0.0		-0.45	-0.35	-0.4	-0.04	0.1	-0.32	BRRAY
MSTSX	-0.53	0.0	-0.45		0.67	0.34	-0.02	-0.08	0.75	MSTSX
LBHIX	-0.54	0.0	-0.35	0.67		0.51	-0.29	0.22	0.68	LBHIX
ABHYX	-0.03	0.0	-0.4	0.34	0.51		-0.05	-0.17	0.07	ABHYX
SCAXF	0.41	0.0	-0.04	-0.02	-0.29	-0.05		-0.8	-0.43	SCAXF
VIASP	-0.41	0.0	0.1	-0.08	0.22	-0.17	-0.8		0.41	VIASP
AAEVX	-0.69	0.0	-0.32	0.75	0.68	0.07	-0.43	0.41		AAEVX
	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF	VIASP	AAEVX

Click cells to compare fundamentals

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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

AAEVX	+ 0.75	MSTSX
AAEVX	+ 0.68	LBHIX
LBHIX	+ 0.67	MSTSX
ABHYX	+ 0.51	LBHIX
SCAXF	+ 0.41	444859BR2
AAEVX	+ 0.41	VIASP

High negative correlations

VIASP	- 0.8	SCAXF
AAEVX	- 0.69	444859BR2
LBHIX	- 0.54	444859BR2
MSTSX	- 0.53	444859BR2
MSTSX	- 0.45	BRRAY
AAEVX	- 0.43	SCAXF

Risk-Adjusted Indicators

There is a big difference between Salient Mutual Fund performing well and Salient International 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 International'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
444859BR2	1.35	(0.09)	0.00	(0.14)	0.00	0.00	5.93	(5.79)	16.62
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRRAY	1.27	(0.13)	0.00	0.01	0.00	0.00	0.00	(2.98)	34.02
MSTSX	0.49	(0.04)	(0.13)	0.06	0.52	(0.61)	1.21	(1.02)	2.80
LBHIX	0.11	0.01	(0.42)	0.38	0.00	(0.29)	0.24	(0.24)	0.96
ABHYX	0.17	0.00	(0.24)	0.19	0.25	(0.24)	0.34	(0.33)	1.91
SCAXF	0.70	(0.41)	0.00	(0.98)	0.00	0.00	0.00	0.00	23.47
VIASP	0.74	0.07	(0.04)	(2.04)	1.13	(0.80)	2.28	(1.20)	7.18
AAEVX	0.48	0.05	(0.10)	(2.13)	0.54	(0.57)	0.93	(0.77)	2.76

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