Sierra E Correlations

SIRJX Fund

USD 22.85 0.03 0.13%

The current 90-days correlation between Sierra E Retirement and Tax Managed Large Cap is 0.92 (i.e., Almost no diversification). The correlation of Sierra E 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 E Correlation With Market

Significant diversification

The correlation between Sierra E Retirement and DJI is 0.05 (i.e., Significant 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

0.89	SRSNX	Sierra Tactical Risk	Pair Corr
0.9	SRSJX	Sierra Tactical Risk	Pair Corr
0.97	SRTJX	Sierra Tactical Risk	Pair Corr
0.84	SRTNX	Sierra Tactical Risk	Pair Corr
0.71	SSIIX	Sierra Strategic Income	Pair Corr
0.76	SSICX	Sierra Strategic Income	Pair Corr
0.71	SSIRX	Sierra Strategic Income	Pair Corr
0.71	SSIZX	Sierra Strategic Income	Pair Corr
0.72	STBDX	Sierra Tactical Bond	Pair Corr
0.67	STBNX	Sierra Tactical Bond	Pair Corr
0.65	STBJX	Sierra Tactical Bond	Pair Corr
0.89	STENX	Northern Lights	Pair Corr
0.89	STEJX	Northern Lights	Pair Corr
0.76	STMEX	Sierra Tactical Municipal	Pair Corr
1.0	SIRZX	Sierra E Retirement	Pair Corr
0.91	SIRRX	Sierra E Retirement	Pair Corr
0.91	SIRAX	Sierra E Retirement	Pair Corr
0.91	SIRIX	Sierra E Retirement	Pair Corr
0.91	SIRCX	Sierra E Retirement	Pair Corr
0.92	SRFNX	Sierra Tactical Risk	Pair Corr
0.92	SRFKX	Sierra Tactical Risk	Pair Corr
0.92	SRFJX	Sierra Tactical Risk	Pair Corr
0.92	SRFQX	Sierra Tactical Risk	Pair Corr
0.88	PAALX	All Asset Fund	Pair Corr
0.88	PATRX	Pimco All Asset	Pair Corr
0.89	PAAIX	All Asset Fund	Pair Corr
0.89	PALPX	Pimco All Asset	Pair Corr
0.92	PASAX	All Asset Fund	Pair Corr
0.91	PASCX	All Asset Fund	Pair Corr
0.92	PAANX	Pimco All Asset	Pair Corr
0.85	PAUPX	Pimco All Asset	Pair Corr
0.84	PAUIX	Pimco All Asset	Pair Corr
0.71	ABRIX	Invesco Balanced Risk	Pair Corr

Moving against Sierra Mutual Fund

0.84	UIPIX	Ultrashort Mid Cap	Pair Corr
0.36	USPIX	Profunds Ultrashort Steady Growth	Pair Corr
0.34	USPSX	Profunds Ultrashort Steady Growth	Pair Corr

Related Correlations Analysis

	RETSX	SBQAX	MKFOX	LMISX	SMVLX	DOXGX	LGPIX
RETSX		0.85	0.83	0.83	0.3	0.58	0.71	RETSX
SBQAX	0.85		0.54	0.87	0.55	0.69	0.35	SBQAX
MKFOX	0.83	0.54		0.5	-0.2	0.13	0.96	MKFOX
LMISX	0.83	0.87	0.5		0.58	0.74	0.34	LMISX
SMVLX	0.3	0.55	-0.2	0.58		0.87	-0.37	SMVLX
DOXGX	0.58	0.69	0.13	0.74	0.87		-0.01	DOXGX
LGPIX	0.71	0.35	0.96	0.34	-0.37	-0.01		LGPIX
	RETSX	SBQAX	MKFOX	LMISX	SMVLX	DOXGX	LGPIX

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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

LGPIX	+ 0.96	MKFOX
LMISX	+ 0.87	SBQAX
DOXGX	+ 0.87	SMVLX
SBQAX	+ 0.85	RETSX
MKFOX	+ 0.83	RETSX
LMISX	+ 0.83	RETSX

High negative correlations

LGPIX	- 0.37	SMVLX
SMVLX	- 0.2	MKFOX
LGPIX	- 0.01	DOXGX

Risk-Adjusted Indicators

There is a big difference between Sierra Mutual Fund performing well and Sierra E 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 E'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
RETSX	0.58	0.04	(0.04)	1.01	0.80	(0.60)	1.19	(1.46)	5.40
SBQAX	0.85	0.02	(0.04)	0.22	1.13	(0.98)	1.75	(1.74)	7.88
MKFOX	0.99	0.07	0.00	(2.36)	1.46	(0.98)	1.83	(2.49)	6.74
LMISX	0.74	0.01	(0.02)	0.08	1.20	(0.70)	1.27	(1.60)	6.30
SMVLX	0.65	(0.06)	0.00	(0.08)	0.00	0.00	1.12	(1.30)	4.73
DOXGX	0.55	0.02	(0.04)	0.13	0.67	(0.60)	1.27	(1.00)	5.95
LGPIX	0.89	0.09	0.01	(3.09)	1.19	(0.89)	1.78	(2.04)	6.25

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