Sierra Core Correlations

SIRJX Fund

USD 23.19 0.01 0.04%

The current 90-days correlation between Sierra E Retirement and T Rowe Price is 0.04 (i.e., Significant diversification). The correlation of Sierra Core 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.

Sierra Core Correlation With Market

Poor diversification

The correlation between Sierra E Retirement and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sierra E Retirement 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 Sierra E Retirement. 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 inflation.

Moving together with Sierra Mutual Fund

0.71	SSIIX	Sierra Strategic Income	Pair Corr
0.67	SSICX	Sierra Strategic Income	Pair Corr
0.72	SSIRX	Sierra Strategic Income	Pair Corr
0.71	SSIZX	Sierra Strategic Income	Pair Corr
0.75	STBDX	Sierra Tactical Bond	Pair Corr
0.71	STBNX	Sierra Tactical Bond	Pair Corr
0.68	STBJX	Sierra Tactical Bond	Pair Corr
0.77	PAALX	All Asset Fund	Pair Corr
0.77	PATRX	Pimco All Asset	Pair Corr
0.79	PAAIX	All Asset Fund	Pair Corr
0.67	PALPX	Pimco All Asset	Pair Corr
0.77	PASAX	All Asset Fund	Pair Corr
0.74	PASCX	All Asset Fund	Pair Corr
0.78	PAANX	Pimco All Asset	Pair Corr
0.61	PAUIX	Pimco All Asset	Pair Corr
0.64	BXEAX	Barings Emerging Markets	Pair Corr

Moving against Sierra Mutual Fund

0.33

PFHCX

Pacific Funds Small

Pair Corr

Related Correlations Analysis

	TFIFX	FGB	PFANX	JFIFX	HILFX	FNPIX	ICFAX
TFIFX		0.77	0.53	0.97	0.96	0.99	0.87	TFIFX
FGB	0.77		0.76	0.76	0.7	0.73	0.73	FGB
PFANX	0.53	0.76		0.49	0.41	0.45	0.52	PFANX
JFIFX	0.97	0.76	0.49		0.99	0.96	0.92	JFIFX
HILFX	0.96	0.7	0.41	0.99		0.96	0.9	HILFX
FNPIX	0.99	0.73	0.45	0.96	0.96		0.86	FNPIX
ICFAX	0.87	0.73	0.52	0.92	0.9	0.86		ICFAX
	TFIFX	FGB	PFANX	JFIFX	HILFX	FNPIX	ICFAX

Click cells to compare fundamentals

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Risk-Adjusted Indicators

There is a big difference between Sierra Mutual Fund performing well and Sierra Core 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 Sierra Core'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
TFIFX	0.80	0.25	0.14	(2.17)	0.53	(0.94)	1.68	(1.29)	8.41
FGB	0.71	0.15	0.04	1.11	0.71	(0.88)	1.59	(1.25)	9.47
PFANX	0.10	0.01	(0.77)	0.69	0.00	(0.16)	0.22	(0.11)	0.54
JFIFX	0.85	0.09	0.16	0.18	0.54	(0.98)	1.87	(1.35)	9.78
HILFX	1.10	0.08	0.18	0.16	0.72	(1.35)	2.60	(1.60)	13.68
FNPIX	1.09	0.33	0.15	(1.69)	0.88	(1.17)	2.09	(1.83)	11.72
ICFAX	0.72	(0.02)	(0.01)	0.10	0.74	(0.89)	1.43	(1.21)	5.10

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