Salient Tactical Correlations

FTGOX Fund

USD 22.65 0.10 0.44%

The current 90-days correlation between Salient Tactical Growth and Ab International Growth is 0.76 (i.e., Poor 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

Poor diversification

The correlation between Salient Tactical Growth and DJI is 0.65 (i.e., Poor 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 persons.

Moving together with Salient Mutual Fund

0.9	FTAGX	Salient Tactical Growth	Pair Corr
0.98	FTGMX	Salient Tactical Growth	Pair Corr
1.0	FTGWX	Salient Tactical Growth	Pair Corr
0.8	JHQCX	Jpmorgan Hedged Equity	Pair Corr
0.82	JHEQX	Jpmorgan Hedged Equity	Pair Corr
0.81	JHQAX	Jpmorgan Hedged Equity	Pair Corr
0.88	GTENX	Gateway Fund Class	Pair Corr
0.86	GTECX	Gateway Fund Class	Pair Corr
0.88	GTEYX	Gateway Fund Class	Pair Corr
0.88	GATEX	Gateway Fund Class	Pair Corr
0.94	JHDCX	Jpmorgan Hedged Equity	Pair Corr
0.95	JHDRX	Jpmorgan Hedged Equity	Pair Corr
0.95	JHDAX	Jpmorgan Hedged Equity	Pair Corr
0.78	DXQLX	Direxion Monthly Nasdaq Steady Growth	Pair Corr
0.77	RYVLX	Nasdaq 100 2x Steady Growth	Pair Corr
0.77	RYVYX	Nasdaq 100 2x Steady Growth	Pair Corr
0.76	UOPIX	Ultra Nasdaq 100 Steady Growth	Pair Corr
0.76	RYCCX	Nasdaq 100 2x Steady Growth	Pair Corr
0.76	UOPSX	Ultranasdaq 100 Profund Steady Growth	Pair Corr
0.86	INPIX	Internet Ultrasector Steady Growth	Pair Corr
0.85	INPSX	Internet Ultrasector Steady Growth	Pair Corr
0.68	JSRSX	Jpmorgan Smartretirement	Pair Corr
0.78	SWSAX	Siit World Select	Pair Corr

Related Correlations Analysis

	AWPIX	PIGDX	SRGAX	GGRYX	BGGKX	TAAEX	ARTSX	MSSGX
AWPIX		0.71	0.82	0.93	0.51	0.55	0.34	0.35	AWPIX
PIGDX	0.71		0.46	0.72	0.03	0.03	-0.31	-0.22	PIGDX
SRGAX	0.82	0.46		0.93	0.82	0.85	0.61	0.67	SRGAX
GGRYX	0.93	0.72	0.93		0.62	0.65	0.36	0.4	GGRYX
BGGKX	0.51	0.03	0.82	0.62		0.94	0.86	0.84	BGGKX
TAAEX	0.55	0.03	0.85	0.65	0.94		0.83	0.93	TAAEX
ARTSX	0.34	-0.31	0.61	0.36	0.86	0.83		0.87	ARTSX
MSSGX	0.35	-0.22	0.67	0.4	0.84	0.93	0.87		MSSGX
	AWPIX	PIGDX	SRGAX	GGRYX	BGGKX	TAAEX	ARTSX	MSSGX

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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

TAAEX	+ 0.94	BGGKX
GGRYX	+ 0.93	AWPIX
GGRYX	+ 0.93	SRGAX
MSSGX	+ 0.93	TAAEX
MSSGX	+ 0.87	ARTSX
ARTSX	+ 0.86	BGGKX

High negative correlations

ARTSX	- 0.31	PIGDX
MSSGX	- 0.22	PIGDX

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
AWPIX	0.70	(0.01)	(0.01)	(0.01)	1.03	(0.68)	1.45	(1.57)	4.44
PIGDX	0.82	0.05	0.04	0.08	1.13	(0.83)	1.84	(1.68)	7.09
SRGAX	0.65	(0.03)	0.00	(0.03)	0.00	0.00	1.25	(1.51)	3.64
GGRYX	0.54	(0.01)	(0.01)	(0.01)	0.76	(0.53)	1.01	(1.15)	3.13
BGGKX	1.57	(0.13)	0.00	0.89	0.00	0.00	2.84	(4.38)	8.15
TAAEX	1.72	(0.14)	0.00	(0.09)	0.00	0.00	3.16	(3.20)	9.89
ARTSX	1.18	(0.13)	0.00	0.89	0.00	0.00	2.24	(3.17)	5.69
MSSGX	1.80	(0.18)	0.00	(0.11)	0.00	0.00	3.81	(3.91)	9.53

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