Sierra Tactical Correlations

SRFNX Fund

USD 24.67 0.08 0.33%

The current 90-days correlation between Sierra Tactical Risk and Sierra Tactical Risk is 0.05 (i.e., Significant diversification). The correlation of Sierra Tactical 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 Tactical Correlation With Market

Very poor diversification

The correlation between Sierra Tactical Risk and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sierra Tactical Risk 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 Tactical Risk. 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 board of governors.

Moving together with Sierra Mutual Fund

0.84	SRSNX	Sierra Tactical Risk	Pair Corr
0.84	SRSJX	Sierra Tactical Risk	Pair Corr
0.86	SRTJX	Sierra Tactical Risk	Pair Corr
0.84	SRTNX	Sierra Tactical Risk	Pair Corr
0.84	STBDX	Sierra Tactical Bond	Pair Corr
0.84	STBNX	Sierra Tactical Bond	Pair Corr
0.9	STBJX	Sierra Tactical Bond	Pair Corr
0.89	STENX	Northern Lights	Pair Corr
0.89	STEJX	Northern Lights	Pair Corr
0.79	SIRZX	Sierra E Retirement	Pair Corr
0.81	SIRRX	Sierra E Retirement	Pair Corr
0.81	SIRAX	Sierra E Retirement	Pair Corr
0.8	SIRIX	Sierra E Retirement	Pair Corr
0.74	SIRCX	Sierra E Retirement	Pair Corr
0.79	SIRJX	Sierra E Retirement	Pair Corr
0.99	SRFKX	Sierra Tactical Risk	Pair Corr
1.0	SRFJX	Sierra Tactical Risk	Pair Corr
1.0	SRFQX	Sierra Tactical Risk	Pair Corr
0.76	VWINX	Vanguard Wellesley Income	Pair Corr
0.76	VWIAX	Vanguard Wellesley Income	Pair Corr
0.72	BKMIX	Blackrock Multi Asset	Pair Corr
0.8	HBLTX	Hartford Balanced	Pair Corr
0.79	HBLRX	Hartford Balanced	Pair Corr
0.8	HBLSX	Hartford Balanced	Pair Corr
0.81	HBLVX	Hartford Balanced	Pair Corr
0.8	HBLYX	Hartford Balanced	Pair Corr
0.9	HBLCX	Hartford Balanced	Pair Corr
0.92	HBLIX	Hartford Balanced	Pair Corr
0.76	VTSAX	Vanguard Total Stock	Pair Corr
0.77	VFIAX	Vanguard 500 Index	Pair Corr
0.76	VTSMX	Vanguard Total Stock	Pair Corr
0.76	VSMPX	Vanguard Total Stock	Pair Corr
0.76	VSTSX	Vanguard Total Stock	Pair Corr
0.76	VITSX	Vanguard Total Stock	Pair Corr

Related Correlations Analysis

	SRSNX	SRSJX	SRTJX	SRTNX	SSIIX	SSICX	SSIRX	SSIZX	STBDX	STBNX
SRSNX		1.0	0.83	0.82	-0.1	-0.15	-0.08	-0.04	0.84	0.85	SRSNX
SRSJX	1.0		0.83	0.82	-0.11	-0.15	-0.09	-0.04	0.84	0.85	SRSJX
SRTJX	0.83	0.83		1.0	0.38	0.34	0.4	0.47	0.93	0.91	SRTJX
SRTNX	0.82	0.82	1.0		0.41	0.37	0.43	0.5	0.91	0.89	SRTNX
SSIIX	-0.1	-0.11	0.38	0.41		1.0	1.0	0.96	0.18	0.12	SSIIX
SSICX	-0.15	-0.15	0.34	0.37	1.0		0.99	0.96	0.13	0.07	SSICX
SSIRX	-0.08	-0.09	0.4	0.43	1.0	0.99		0.95	0.2	0.15	SSIRX
SSIZX	-0.04	-0.04	0.47	0.5	0.96	0.96	0.95		0.27	0.21	SSIZX
STBDX	0.84	0.84	0.93	0.91	0.18	0.13	0.2	0.27		1.0	STBDX
STBNX	0.85	0.85	0.91	0.89	0.12	0.07	0.15	0.21	1.0		STBNX
	SRSNX	SRSJX	SRTJX	SRTNX	SSIIX	SSICX	SSIRX	SSIZX	STBDX	STBNX

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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

SRSJX	+ 1.0	SRSNX
SRTNX	+ 1.0	SRTJX
SSICX	+ 1.0	SSIIX
SSIRX	+ 1.0	SSIIX
STBNX	+ 1.0	STBDX
SSIRX	+ 0.99	SSICX

High negative correlations

SSICX	- 0.15	SRSJX
SSICX	- 0.15	SRSNX
SSIIX	- 0.11	SRSJX
SSIIX	- 0.1	SRSNX
SSIRX	- 0.09	SRSJX
SSIRX	- 0.08	SRSNX

Risk-Adjusted Indicators

There is a big difference between Sierra Mutual Fund performing well and Sierra Tactical 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 Tactical'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
SRSNX	0.33	0.03	(0.21)	1.07	0.31	(0.41)	0.97	(0.69)	2.29
SRSJX	0.35	0.03	(0.21)	2.40	0.32	(0.42)	0.93	(0.69)	2.28
SRTJX	0.16	0.01	(0.49)	0.40	0.12	(0.23)	0.45	(0.30)	1.20
SRTNX	0.16	0.00	(0.48)	0.34	0.13	(0.23)	0.45	(0.34)	1.20
SSIIX	0.14	(0.01)	(0.60)	(0.09)	0.17	(0.15)	0.29	(0.34)	0.84
SSICX	0.14	(0.02)	(0.62)	(0.11)	0.17	(0.15)	0.25	(0.30)	0.84
SSIRX	0.14	(0.01)	(0.57)	(0.04)	0.16	(0.15)	0.25	(0.35)	0.89
SSIZX	0.14	(0.01)	(0.61)	(0.39)	0.18	(0.15)	0.29	(0.35)	0.84
STBDX	0.12	0.01	(0.57)	4.11	0.00	(0.16)	0.27	(0.27)	0.84
STBNX	0.12	0.01	(0.62)	4.14	0.00	(0.17)	0.30	(0.26)	0.83

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