Sierra Tactical Correlations

STMEX Fund

USD 25.69 0.02 0.08%

The current 90-days correlation between Sierra Tactical Municipal and Aig Government Money is 0.15 (i.e., Average 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 good diversification

The correlation between Sierra Tactical Municipal and DJI is -0.25 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sierra Tactical Municipal 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 Municipal. 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 income.

Moving together with Sierra Mutual Fund

0.84	SSIIX	Sierra Strategic Income	Pair Corr
0.86	SSICX	Sierra Strategic Income	Pair Corr
0.83	SSIRX	Sierra Strategic Income	Pair Corr
0.83	SSIZX	Sierra Strategic Income	Pair Corr
0.83	NHMAX	Nuveen High Yield	Pair Corr
0.82	NHCCX	Nuveen High Yield	Pair Corr
0.82	NHMRX	Nuveen High Yield	Pair Corr
0.82	NHMFX	Nuveen High Yield	Pair Corr
0.64	ABHFX	American High Income	Pair Corr
0.7	AHICX	American High Income	Pair Corr
0.64	AMHIX	American High Income	Pair Corr
0.74	GHYCX	Goldman Sachs High	Pair Corr
0.8	GHYAX	Goldman Sachs High	Pair Corr
0.64	ACTDX	Invesco High Yield	Pair Corr
0.63	USPSX	Profunds Ultrashort	Pair Corr
0.63	USPIX	Profunds Ultrashort	Pair Corr

Moving against Sierra Mutual Fund

0.44	STENX	Northern Lights	Pair Corr
0.44	STEJX	Northern Lights	Pair Corr
0.31	SRSNX	Sierra Tactical Risk	Pair Corr
0.31	SRSJX	Sierra Tactical Risk	Pair Corr
0.67	FNCMX	Fidelity Nasdaq Posite	Pair Corr
0.64	FTCAX	Templeton Strained Bond	Pair Corr
0.63	PYAIX	Payden Absolute Return	Pair Corr
0.63	PYARX	Payden Absolute Return	Pair Corr
0.56	QUAZX	Ab Small Cap	Pair Corr
0.55	TIGGX	Goldman Sachs Tax	Pair Corr
0.52	MSVVX	Mesirow Financial Small	Pair Corr
0.43	BCAAX	Brandywineglobal C	Pair Corr

Related Correlations Analysis

	SMAAX	TWACX	JGIFX	ICAXX	DACGX	AIEXX
SMAAX		0.84	0.87	0.0	0.84	0.0	SMAAX
TWACX	0.84		0.89	0.0	0.89	0.0	TWACX
JGIFX	0.87	0.89		0.0	0.97	0.0	JGIFX
ICAXX	0.0	0.0	0.0		0.0	0.0	ICAXX
DACGX	0.84	0.89	0.97	0.0		0.0	DACGX
AIEXX	0.0	0.0	0.0	0.0	0.0		AIEXX
	SMAAX	TWACX	JGIFX	ICAXX	DACGX	AIEXX

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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

DACGX	+ 0.97	JGIFX
JGIFX	+ 0.89	TWACX
DACGX	+ 0.89	TWACX
JGIFX	+ 0.87	SMAAX
TWACX	+ 0.84	SMAAX
DACGX	+ 0.84	SMAAX

High negative correlations

AIEXX	- 0.0	DACGX
AIEXX	- 0.0	ICAXX
DACGX	- 0.0	ICAXX
AIEXX	- 0.0	JGIFX
ICAXX	- 0.0	JGIFX
AIEXX	- 0.0	TWACX

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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
SMAAX	0.12	(0.02)	(0.37)	0.20	(0.30)	0.99
TWACX	0.08	0.00	0.00	0.11	(0.11)	0.78
JGIFX	0.24	(0.05)	(0.94)	0.50	(0.51)	1.41
ICAXX	0.00	0.00	0.00	0.00	0.00	0.00
DACGX	0.19	(0.02)	0.46	0.39	(0.48)	1.03
AIEXX	0.00	0.00	0.00	0.00	0.00	0.00

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