Salient International Correlations

KIRAX Fund

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The current 90-days correlation between Salient International and Transamerica Mlp Energy is -0.1 (i.e., Good diversification). The correlation of Salient International 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 International Correlation With Market

Good diversification

The correlation between Salient International Real and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Salient International Real 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 International Real. 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

0.83	SBTAX	Salient Tactical Plus	Pair Corr
0.82	SBTIX	Salient Tactical Plus	Pair Corr
0.81	BTPIX	Salient Tactical Plus	Pair Corr
0.91	KIFAX	Salient Select Income	Pair Corr
0.74	KIFCX	Salient Select Income	Pair Corr
0.91	KIFYX	Salient Select Income	Pair Corr
1.0	KIRCX	Salient International	Pair Corr
1.0	KIRYX	Salient International	Pair Corr
0.76	DFGEX	Dfa Global Real	Pair Corr
0.76	PGRKX	Global Real Estate	Pair Corr
0.75	PGRUX	Global Real Estate	Pair Corr
0.85	MGLAX	Mfs Global Real	Pair Corr
0.85	MGLIX	Mfs Global Real	Pair Corr
0.8	BRUFX	Bruce Fund Bruce	Pair Corr
0.79	SPGSX	State Street Premier	Pair Corr

Moving against Salient Mutual Fund

0.77	RYMEX	Commodities Strategy	Pair Corr
0.51	QGLDX	Gold Bullion	Pair Corr
0.5	ETY	Eaton Vance Tax	Pair Corr

Related Correlations Analysis

	TMCLX	ALEFX	AIWEX	VENAX	TREIX	BACCX	FRNRX
TMCLX		0.84	0.8	0.76	0.48	0.74	0.8	TMCLX
ALEFX	0.84		0.89	0.85	0.19	0.82	0.88	ALEFX
AIWEX	0.8	0.89		0.71	0.25	0.68	0.75	AIWEX
VENAX	0.76	0.85	0.71		-0.07	0.99	0.98	VENAX
TREIX	0.48	0.19	0.25	-0.07		-0.07	0.03	TREIX
BACCX	0.74	0.82	0.68	0.99	-0.07		0.97	BACCX
FRNRX	0.8	0.88	0.75	0.98	0.03	0.97		FRNRX
	TMCLX	ALEFX	AIWEX	VENAX	TREIX	BACCX	FRNRX

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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

BACCX	+ 0.99	VENAX
FRNRX	+ 0.98	VENAX
FRNRX	+ 0.97	BACCX
AIWEX	+ 0.89	ALEFX
FRNRX	+ 0.88	ALEFX
VENAX	+ 0.85	ALEFX

High negative correlations

BACCX	- 0.07	TREIX
TREIX	- 0.07	VENAX

Risk-Adjusted Indicators

There is a big difference between Salient Mutual Fund performing well and Salient International 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 International'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
TMCLX	0.96	0.04	0.02	0.07	1.36	(0.98)	1.71	(2.31)	6.34
ALEFX	1.01	0.03	0.02	0.10	1.58	(0.94)	1.68	(2.45)	6.40
AIWEX	1.08	(0.03)	0.00	(0.11)	0.00	0.00	1.90	(1.83)	9.76
VENAX	0.93	(0.05)	0.00	(0.10)	0.00	0.00	1.46	(2.31)	4.83
TREIX	0.05	0.01	0.14	(1.32)	0.00	(0.10)	0.10	(0.10)	0.30
BACCX	0.81	(0.05)	0.00	(0.11)	0.00	0.00	1.30	(1.90)	4.22
FRNRX	0.83	(0.02)	0.00	(0.05)	0.00	0.00	1.47	(1.88)	4.80

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