Sierra Strategic Correlations

SSIIX Fund

USD 20.04 0.02 0.1%

The correlation of Sierra Strategic 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 Strategic Correlation With Market

Very poor diversification

The correlation between Sierra Strategic Income and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sierra Strategic Income 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 Strategic Income. 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 gross domestic product.

Moving together with Sierra Mutual Fund

1.0	SSICX	Sierra Strategic Income	Pair Corr
1.0	SSIRX	Sierra Strategic Income	Pair Corr
0.98	SSIZX	Sierra Strategic Income	Pair Corr
0.87	STBDX	Sierra Tactical Bond	Pair Corr
0.89	STBNX	Sierra Tactical Bond	Pair Corr
0.9	STBJX	Sierra Tactical Bond	Pair Corr
0.86	STMEX	Sierra Tactical Municipal	Pair Corr
0.93	SIRZX	Sierra E Retirement	Pair Corr
0.96	SIRRX	Sierra E Retirement	Pair Corr
0.93	SIRAX	Sierra E Retirement	Pair Corr
0.93	SIRIX	Sierra E Retirement	Pair Corr
0.96	SIRCX	Sierra E Retirement	Pair Corr
0.93	SIRJX	Sierra E Retirement	Pair Corr
0.93	DODIX	Dodge Income	Pair Corr
0.93	DOXIX	Dodge Cox Income	Pair Corr
0.85	FIWGX	Strategic Advisers	Pair Corr
0.77	MWTNX	Metropolitan West Total	Pair Corr
0.81	MWTSX	Metropolitan West Total	Pair Corr
0.94	PTTPX	Pimco Total Return	Pair Corr
0.92	PTRRX	Total Return	Pair Corr
0.94	PTRAX	Total Return	Pair Corr
0.91	PTTRX	Total Return	Pair Corr
0.9	PDBSX	Prudential Total Return	Pair Corr
0.78	RYMEX	Commodities Strategy	Pair Corr
0.8	RYMJX	Commodities Strategy	Pair Corr
0.81	RYMBX	Commodities Strategy	Pair Corr
0.97	BRUFX	Bruce Fund Bruce	Pair Corr
0.76	SPGSX	State Street Premier	Pair Corr
0.94	KF	Korea Closed	Pair Corr
0.8	FCBAX	Fidelity Porate Bond	Pair Corr
0.77	CGHIX	Crow Point Defined	Pair Corr
0.95	GACCX	Gamco Global	Pair Corr
0.96	SCEMX	Deutsche Enhanced	Pair Corr
0.82	FNPFX	New Perspective	Pair Corr
0.88	IMLPX	Maingate Mlp Steady Growth	Pair Corr
0.77	XBDJX	Blackrock Enhanced	Pair Corr
0.94	JDICX	John Hancock Disciplined	Pair Corr
0.68	LFRAX	Floating Rate	Pair Corr
0.93	BOGIX	Bogle Small Cap	Pair Corr

Related Correlations Analysis

	SSIZX	RPIDX	EOS	FAFWX	FPF	RYTFX	BDHIX	BAUAX	SWYFX	SMAPX
SSIZX		0.69	-0.02	0.97	0.93	0.82	0.93	0.86	0.93	0.84	SSIZX
RPIDX	0.69		0.09	0.71	0.71	0.52	0.76	0.52	0.7	0.63	RPIDX
EOS	-0.02	0.09		-0.05	-0.03	0.11	0.17	0.06	0.15	-0.35	EOS
FAFWX	0.97	0.71	-0.05		0.93	0.83	0.96	0.86	0.97	0.85	FAFWX
FPF	0.93	0.71	-0.03	0.93		0.75	0.88	0.8	0.89	0.82	FPF
RYTFX	0.82	0.52	0.11	0.83	0.75		0.87	0.97	0.87	0.54	RYTFX
BDHIX	0.93	0.76	0.17	0.96	0.88	0.87		0.88	0.99	0.73	BDHIX
BAUAX	0.86	0.52	0.06	0.86	0.8	0.97	0.88		0.88	0.59	BAUAX
SWYFX	0.93	0.7	0.15	0.97	0.89	0.87	0.99	0.88		0.73	SWYFX
SMAPX	0.84	0.63	-0.35	0.85	0.82	0.54	0.73	0.59	0.73		SMAPX
	SSIZX	RPIDX	EOS	FAFWX	FPF	RYTFX	BDHIX	BAUAX	SWYFX	SMAPX

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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

SWYFX	+ 0.99	BDHIX
FAFWX	+ 0.97	SSIZX
SWYFX	+ 0.97	FAFWX
BAUAX	+ 0.97	RYTFX
BDHIX	+ 0.96	FAFWX
FPF	+ 0.93	SSIZX

High negative correlations

SMAPX	- 0.35	EOS
FAFWX	- 0.05	EOS
FPF	- 0.03	EOS
EOS	- 0.02	SSIZX

Risk-Adjusted Indicators

There is a big difference between Sierra Mutual Fund performing well and Sierra Strategic 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 Strategic'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
SSIZX	0.10	0.02	(0.11)	0.66	0.00	(0.12)	0.20	(0.20)	0.46
RPIDX	0.12	0.00	(0.23)	(0.97)	0.10	(0.22)	0.46	(0.23)	1.03
EOS	0.73	(0.07)	0.00	1.91	0.00	0.00	1.37	(1.74)	3.55
FAFWX	0.21	0.04	0.04	0.17	0.10	(0.26)	0.55	(0.47)	1.41
FPF	0.30	0.04	0.02	0.17	0.29	(0.34)	0.69	(0.76)	1.48
RYTFX	1.02	0.33	0.41	0.28	0.23	(1.36)	2.39	(1.29)	16.09
BDHIX	0.29	0.03	0.01	0.11	0.29	(0.34)	0.68	(0.66)	2.03
BAUAX	1.08	0.32	0.36	0.33	0.45	(1.40)	2.56	(1.51)	16.04
SWYFX	0.38	0.02	0.01	0.08	0.46	(0.37)	0.87	(0.80)	2.22
SMAPX	0.70	0.20	0.19	(2.50)	0.55	(0.82)	1.45	(1.33)	3.86

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