Salient Tactical Correlations

Mutual Funds . USA . 
Fund . Salient Tactical Growth
FTAGX Fund  USD 25.02  0.05  0.20%   
The current 90-days correlation between Salient Tactical Growth and Fidelity Managed Retirement is 0.1 (i.e., Average 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

Weak diversification

The correlation between Salient Tactical Growth and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Salient Tactical Growth and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Salient Tactical Growth. 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 price.

Moving together with Salient Mutual Fund

  0.94FTGMX Salient Tactical GrowthPairCorr
  1.0FTGOX Salient Tactical GrowthPairCorr
  1.0FTGWX Salient Tactical GrowthPairCorr
  0.7JHQCX Jpmorgan Hedged EquityPairCorr
  0.86JHEQX Jpmorgan Hedged EquityPairCorr
  0.86JHQAX Jpmorgan Hedged EquityPairCorr
  0.74GTENX Gateway Fund ClassPairCorr
  0.87GTECX Gateway Fund ClassPairCorr
  0.86GTEYX Gateway Fund ClassPairCorr
  0.74GATEX Gateway Fund ClassPairCorr
  0.7JHDCX Jpmorgan Hedged EquityPairCorr
  0.61JHDRX Jpmorgan Hedged EquityPairCorr
  0.69JHDAX Jpmorgan Hedged EquityPairCorr
  0.78VSTSX Vanguard Total StockPairCorr
  0.78VSMPX Vanguard Total StockPairCorr
  0.78VITSX Vanguard Total StockPairCorr
  0.75VFFSX Vanguard 500 IndexPairCorr
  0.75VFIAX Vanguard 500 IndexPairCorr
  0.76VTISX Vanguard Total InterPairCorr
  0.8VTSNX Vanguard Total InterPairCorr
  0.8VTPSX Vanguard Total InterPairCorr
  0.89VINIX Vanguard InstitutionalPairCorr
  0.8VTSAX Vanguard Total StockPairCorr
  0.76TIIEX Tiaa Cref InternationalPairCorr

Moving against Salient Mutual Fund

  0.31SBTCX Salient Tactical PlusPairCorr

Related Correlations Analysis

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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.

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