Salient Tactical Correlations

BTPIX Fund

USD 11.16 0.02 0.18%

The current 90-days correlation between Salient Tactical Plus and Invesco Global Health is -0.01 (i.e., Good diversification). The correlation of Salient 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.

Salient Tactical Correlation With Market

Good diversification

The correlation between Salient Tactical Plus and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Salient Tactical Plus and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Salient Tactical Plus. 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 Salient Mutual Fund

1.0	SBTAX	Salient Tactical Plus	Pair Corr
0.96	SBTIX	Salient Tactical Plus	Pair Corr
0.83	JHQCX	Jpmorgan Hedged Equity	Pair Corr
0.82	JHEQX	Jpmorgan Hedged Equity	Pair Corr
0.82	JHQAX	Jpmorgan Hedged Equity	Pair Corr
0.78	GTENX	Gateway Fund Class	Pair Corr
0.8	GTECX	Gateway Fund Class	Pair Corr
0.78	GTEYX	Gateway Fund Class	Pair Corr
0.79	GATEX	Gateway Fund Class	Pair Corr
0.65	JHDCX	Jpmorgan Hedged Equity	Pair Corr
0.61	JHDRX	Jpmorgan Hedged Equity	Pair Corr
0.63	JHDAX	Jpmorgan Hedged Equity	Pair Corr

Moving against Salient Mutual Fund

0.84	VFIJX	Vanguard Gnma	Pair Corr
0.82	EKIZX	Wells Fargo Adjustable	Pair Corr
0.81	ITBIX	Hartford Total	Pair Corr
0.81	DIPSX	Dfa Inflation Protected	Pair Corr
0.81	AVBNX	American Century Etf	Pair Corr
0.76	BFCCX	American Funds Porate	Pair Corr
0.71	VMNVX	Vanguard Global Minimum	Pair Corr
0.7	MRJIX	Real Assets Portfolio	Pair Corr
0.67	NHS	Neuberger Berman High	Pair Corr
0.61	MCOCX	Madison Conservative	Pair Corr
0.61	HSXCX	Hartford Schroders	Pair Corr
0.57	CMBFX	Columbia Amt Free	Pair Corr
0.5	BBNTX	Sterling Capital North	Pair Corr
0.44	MHOIX	Mfs Global High	Pair Corr
0.88	RBOHX	Intermediate Bond	Pair Corr
0.88	MQLCX	Mfs Limited Maturity	Pair Corr

Related Correlations Analysis

	GTHCX	VGHCX	HCPIX	LYFAX	SHSAX	LYFCX	HIAHX	XXGRX
GTHCX		0.45	0.83	0.81	0.96	0.81	0.94	0.69	GTHCX
VGHCX	0.45		0.33	0.48	0.43	0.49	0.5	0.47	VGHCX
HCPIX	0.83	0.33		0.9	0.94	0.9	0.72	0.78	HCPIX
LYFAX	0.81	0.48	0.9		0.89	1.0	0.72	0.88	LYFAX
SHSAX	0.96	0.43	0.94	0.89		0.89	0.89	0.78	SHSAX
LYFCX	0.81	0.49	0.9	1.0	0.89		0.73	0.88	LYFCX
HIAHX	0.94	0.5	0.72	0.72	0.89	0.73		0.66	HIAHX
XXGRX	0.69	0.47	0.78	0.88	0.78	0.88	0.66		XXGRX
	GTHCX	VGHCX	HCPIX	LYFAX	SHSAX	LYFCX	HIAHX	XXGRX

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Risk-Adjusted Indicators

There is a big difference between Salient Mutual Fund performing well and Salient 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 Salient 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
GTHCX	0.70	0.03	0.03	0.04	0.88	(0.74)	1.39	(1.46)	4.61
VGHCX	0.80	(0.13)	0.00	(0.23)	0.00	0.00	1.49	(1.50)	8.17
HCPIX	1.00	0.09	0.08	0.12	1.00	(1.10)	1.88	(1.69)	4.95
LYFAX	0.61	0.03	0.04	(0.16)	0.71	(0.64)	1.22	(1.18)	3.27
SHSAX	0.65	0.02	0.03	0.04	0.74	(0.71)	1.33	(1.16)	3.73
LYFCX	0.60	0.03	0.03	(0.14)	0.71	(0.62)	1.17	(1.20)	3.17
HIAHX	0.71	(0.01)	(0.01)	(0.01)	0.83	(0.84)	1.39	(1.22)	4.43
XXGRX	0.76	0.01	0.01	(0.04)	0.90	(0.83)	1.51	(1.62)	4.62

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