Salient Select Correlations

KIFAX Fund

USD 18.45 0.04 0.22%

The current 90-days correlation between Salient Select Income and Bbh Intermediate Municipal is -0.02 (i.e., Good diversification). The correlation of Salient Select 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 Select Correlation With Market

Very weak diversification

The correlation between Salient Select Income and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Salient Select Income and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Salient Select Income. 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 nation.

Moving together with Salient Mutual Fund

1.0

KIFYX

Salient Select Income

Pair Corr

Moving against Salient Mutual Fund

0.48	QREARX	Teachers Insurance And	Pair Corr
0.47	KF	Korea Closed	Pair Corr
0.39	RYMEX	Commodities Strategy	Pair Corr
0.38	RYMJX	Commodities Strategy	Pair Corr
0.36	HILIX	Hartford Interna	Pair Corr
0.32	RYMBX	Commodities Strategy	Pair Corr

Related Correlations Analysis

	BBINX	CSBCX	MBSAX	ABNTX	UIITX
BBINX		0.88	0.91	0.85	0.88	BBINX
CSBCX	0.88		0.96	0.97	1.0	CSBCX
MBSAX	0.91	0.96		0.95	0.96	MBSAX
ABNTX	0.85	0.97	0.95		0.97	ABNTX
UIITX	0.88	1.0	0.96	0.97		UIITX
	BBINX	CSBCX	MBSAX	ABNTX	UIITX

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Risk-Adjusted Indicators

There is a big difference between Salient Mutual Fund performing well and Salient Select 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 Select'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
BBINX	0.13	(0.01)	0.12	0.28	0.17	(0.18)	0.29	(0.30)	0.78
CSBCX	0.22	0.01	0.15	0.35	0.23	(0.25)	0.49	(0.42)	1.42
MBSAX	0.18	0.01	0.18	(0.25)	0.19	(0.21)	0.36	(0.30)	1.34
ABNTX	0.16	0.03	0.26	6.03	0.00	(0.21)	0.30	(0.39)	0.99
UIITX	0.23	0.01	0.16	0.51	0.21	(0.29)	0.55	(0.43)	1.45

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