Sierra Tactical Correlations

Mutual Funds . USA . 
Fund . Sierra Tactical Risk
SRTNX Fund   27.43  0.06  0.22%   
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

Almost no diversification

The correlation between Sierra Tactical Risk and DJI is 0.95 (i.e., Almost no 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 inflation.

Moving together with Sierra Mutual Fund

  0.99SRSNX Sierra Tactical RiskPairCorr
  1.0SRTJX Sierra Tactical RiskPairCorr
  0.99STENX Northern LightsPairCorr
  0.99STEJX Northern LightsPairCorr
  1.0SRFNX Sierra Tactical RiskPairCorr
  1.0SRFKX Sierra Tactical RiskPairCorr
  0.96SRFJX Sierra Tactical RiskPairCorr
  0.96SRFQX Sierra Tactical RiskPairCorr
  0.99FASIX Fidelity Asset ManagerPairCorr
  0.99FTIWX Fidelity Asset ManagerPairCorr
  0.99FTDWX Fidelity Asset ManagerPairCorr
  0.99FTAWX Fidelity Asset ManagerPairCorr
  0.99FIKVX Fidelity Asset ManagerPairCorr
  0.99FTCWX Fidelity Asset ManagerPairCorr
  0.98VASIX Vanguard LifestrategyPairCorr
  0.98PFIPX Strategic Asset ManaPairCorr
  0.91PDI Pimco Dynamic IncomePairCorr
  0.86AMHIX American High IncomePairCorr
  0.74JABCX Janus BalancedPairCorr
  0.95IGAEX Ashmore Emerging MarketsPairCorr
  0.97HHDFX Hamlin High DividendPairCorr
  0.96AMDWX Amana Developing WorldPairCorr
  0.62FEHAX First Eagle HighPairCorr
  0.81QCEQRX College RetirementPairCorr
  0.81BCAAX Brandywineglobal CPairCorr
  0.87ROBAX Robinson Tax AdvantagedPairCorr
  0.9FAAAX Franklin K2 AlternativePairCorr
  0.98RFFTX American Funds 2035PairCorr
  0.96NPSFX Nuveen Preferred SecPairCorr
  0.97TEMTX Franklin Mutual SharesPairCorr
  0.93EMLAX Mfs Emerging MarketsPairCorr

Moving against Sierra Mutual Fund

  0.82TCTGX Transamerica CleartrackPairCorr
  0.97UIPIX Ultrashort Mid CapPairCorr
  0.83TCSUX Cleartrack 2020 ClassPairCorr
  0.82TDKTX Cleartrack 2015 ClassPairCorr
  0.82TCTJX Transamerica CleartrackPairCorr
  0.75CESGX Coho Relative ValuePairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SRSNX  0.39  0.03  0.00  0.13  0.39 
(0.47)
 0.79 
(0.94)
 2.49 
SRSJX  0.36  0.09  0.04  4.03  0.27 
(0.45)
 0.74 
(0.90)
 2.51 
SRTJX  0.18  0.03 (0.11) 0.17  0.00 
(0.21)
 0.41 
(0.37)
 1.08 
SRTNX  0.19  0.02 (0.11) 0.16  0.00 
(0.22)
 0.41 
(0.37)
 1.08 
STENX  0.55  0.06  0.06  0.15  0.58 
(0.60)
 1.07 
(1.31)
 3.74 
STEJX  0.54  0.07  0.06  0.16  0.57 
(0.60)
 1.07 
(1.33)
 3.69 
SRFNX  0.27  0.02 (0.06) 0.12  0.24 
(0.31)
 0.58 
(0.60)
 1.68 
SRFKX  0.27  0.02 (0.05) 0.13  0.24 
(0.31)
 0.58 
(0.60)
 1.61 
SRFJX  0.27  0.05 (0.06)(1.63) 0.23 
(0.31)
 0.58 
(0.56)
 1.64 
SRFQX  0.27  0.05 (0.06)(1.43) 0.24 
(0.31)
 0.61 
(0.59)
 1.68 

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