Salient Tactical Correlations

BTPIX Fund

USD 11.35 0.02 0.18%

The current 90-days correlation between Salient Tactical Plus and Small Cap Value is 0.42 (i.e., Very weak 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

Average diversification

The correlation between Salient Tactical Plus and DJI is 0.13 (i.e., Average 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
1.0	SBTIX	Salient Tactical Plus	Pair Corr
0.86	KIFAX	Salient Select Income	Pair Corr
0.81	KIFCX	Salient Select Income	Pair Corr
0.86	KIFYX	Salient Select Income	Pair Corr
0.87	KIRAX	Salient International	Pair Corr
0.87	KIRCX	Salient International	Pair Corr
0.87	KIRYX	Salient International	Pair Corr
0.72	TCTGX	Transamerica Cleartrack	Pair Corr
0.72	TDKTX	Cleartrack 2015 Class	Pair Corr
0.72	TCTJX	Transamerica Cleartrack	Pair Corr
0.72	TCSUX	Cleartrack 2020 Class	Pair Corr

Moving against Salient Mutual Fund

0.73	UIPIX	Ultrashort Mid Cap	Pair Corr
0.71	FTCAX	Templeton Strained Bond	Pair Corr
0.58	TFBRX	American Beacon Twen	Pair Corr
0.43	MDSIX	Md Sass Short	Pair Corr

Related Correlations Analysis

	ASVIX	AFDVX	MGPSX	QRSVX	UAPIX	FCPVX	MGPIX	VISVX
ASVIX		0.97	0.95	0.96	0.97	0.92	0.94	0.94	ASVIX
AFDVX	0.97		0.96	0.96	0.97	0.96	0.95	0.98	AFDVX
MGPSX	0.95	0.96		0.95	0.97	0.95	1.0	0.96	MGPSX
QRSVX	0.96	0.96	0.95		0.97	0.93	0.95	0.95	QRSVX
UAPIX	0.97	0.97	0.97	0.97		0.94	0.97	0.96	UAPIX
FCPVX	0.92	0.96	0.95	0.93	0.94		0.97	0.99	FCPVX
MGPIX	0.94	0.95	1.0	0.95	0.97	0.97		0.97	MGPIX
VISVX	0.94	0.98	0.96	0.95	0.96	0.99	0.97		VISVX
	ASVIX	AFDVX	MGPSX	QRSVX	UAPIX	FCPVX	MGPIX	VISVX

Click cells to compare fundamentals

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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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
ASVIX	0.85	(0.14)	(0.12)	1.72	(1.74)	8.37
AFDVX	0.73	(0.11)	(0.15)	1.44	(1.40)	5.36
MGPSX	0.74	(0.08)	(0.12)	1.45	(1.43)	5.45
QRSVX	0.69	(0.08)	(0.18)	1.39	(1.29)	6.46
UAPIX	1.72	(0.17)	(0.11)	3.23	(3.11)	12.42
FCPVX	0.76	(0.07)	(0.09)	1.53	(1.67)	5.52
MGPIX	0.74	(0.07)	(0.11)	1.46	(1.43)	5.46
VISVX	0.66	(0.06)	(0.08)	1.44	(1.25)	5.42

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