Sierra Tactical Correlations

STMYX Fund

USD 25.93 0.13 0.50%

The current 90-days correlation between Sierra Tactical Municipal and Dreyfusstandish Global Fixed is 0.55 (i.e., Very weak 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

Average diversification

The correlation between Sierra Tactical Municipal and DJI is 0.12 (i.e., Average 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 manufacturing.

Moving together with Sierra Mutual Fund

0.92	STMNX	Stone Toro Market	Pair Corr
0.92	STMHX	Sierra Tactical Municipal	Pair Corr
0.92	STMKX	Sierra Tactical Municipal	Pair Corr
0.72	NHMAX	Nuveen High Yield	Pair Corr
0.73	NHCCX	Nuveen High Yield	Pair Corr
0.72	NHMRX	Nuveen High Yield	Pair Corr
0.72	NHMFX	Nuveen High Yield	Pair Corr
0.69	ABHFX	American High Income	Pair Corr
0.75	AHICX	American High Income	Pair Corr
0.69	AMHIX	American High Income	Pair Corr
0.78	GHYCX	Goldman Sachs High	Pair Corr
0.75	GHYAX	Goldman Sachs High	Pair Corr
0.7	ACTDX	Invesco High Yield	Pair Corr

Moving against Sierra Mutual Fund

0.71	XGEIX	Guggenheim Energy Income	Pair Corr
0.64	SPGSX	State Street Premier	Pair Corr
0.63	URNQX	Nasdaq 100 Index	Pair Corr
0.6	TRHZX	T Rowe Price	Pair Corr
0.57	FINFX	American Funds Funda	Pair Corr
0.56	VSEQX	Vanguard Strategic Equity	Pair Corr
0.55	RICEX	Investment Of America	Pair Corr
0.53	LACFX	Lord Abbett Vertible	Pair Corr
0.53	DFMAX	Davidson Multi Cap	Pair Corr
0.52	SCRYX	Small Cap Core	Pair Corr
0.52	AMLPX	Maingate Mlp	Pair Corr
0.44	SIYYX	Simt High Yield	Pair Corr
0.36	SECPX	Sdit Ultra Short	Pair Corr
0.65	DOXGX	Dodge Cox Stock	Pair Corr
0.64	AULYX	Ultra Fund Y	Pair Corr
0.63	HDPMX	Hodges Fund Retail	Pair Corr
0.61	TMFCX	Touchstone Mid Cap	Pair Corr

Related Correlations Analysis

	DSDYX	GMCQX	FLDFX	LOGRX	GMADX	TOIIX	DIVHX
DSDYX		-0.63	-0.35	-0.45	0.23	0.18	-0.35	DSDYX
GMCQX	-0.63		0.91	0.91	0.32	0.05	0.87	GMCQX
FLDFX	-0.35	0.91		0.86	0.6	0.29	0.85	FLDFX
LOGRX	-0.45	0.91	0.86		0.29	-0.07	0.82	LOGRX
GMADX	0.23	0.32	0.6	0.29		0.85	0.52	GMADX
TOIIX	0.18	0.05	0.29	-0.07	0.85		0.31	TOIIX
DIVHX	-0.35	0.87	0.85	0.82	0.52	0.31		DIVHX
	DSDYX	GMCQX	FLDFX	LOGRX	GMADX	TOIIX	DIVHX

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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

FLDFX	+ 0.91	GMCQX
LOGRX	+ 0.91	GMCQX
DIVHX	+ 0.87	GMCQX
LOGRX	+ 0.86	FLDFX
DIVHX	+ 0.85	FLDFX
TOIIX	+ 0.85	GMADX

High negative correlations

GMCQX	- 0.63	DSDYX
LOGRX	- 0.45	DSDYX
DIVHX	- 0.35	DSDYX
FLDFX	- 0.35	DSDYX
TOIIX	- 0.07	LOGRX

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
DSDYX	0.15	(0.02)	0.00	(0.29)	0.00	0.00	0.34	(0.24)	0.92
GMCQX	0.60	0.10	(0.02)	(9.34)	0.71	(0.63)	1.42	(1.43)	4.57
FLDFX	0.43	0.03	(0.15)	2.37	0.52	(0.46)	0.85	(0.98)	2.83
LOGRX	0.48	0.07	(0.08)	3.26	0.38	(0.53)	0.86	(0.89)	2.96
GMADX	0.54	0.00	(0.15)	0.65	0.71	(0.56)	1.18	(1.20)	3.39
TOIIX	0.63	(0.04)	0.00	0.75	0.00	0.00	1.43	(1.59)	4.09
DIVHX	0.49	0.10	(0.03)	2.40	0.30	(0.57)	1.12	(0.74)	2.83

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