Salient Tactical Correlations

SBTIX Fund

USD 10.99 0.01 0.09%

The current 90-days correlation between Salient Tactical Plus and Tiaa Cref Lifestyle Moderate is 0.45 (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

Modest diversification

The correlation between Salient Tactical Plus and DJI is 0.22 (i.e., Modest 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 World Market Map 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	BTPIX	Salient Tactical Plus	Pair Corr
0.86	KIFAX	Salient Select Income	Pair Corr
0.62	KIFCX	Salient Select Income	Pair Corr
0.86	KIFYX	Salient Select Income	Pair Corr
0.82	KIRAX	Salient International	Pair Corr
0.82	KIRCX	Salient International	Pair Corr
0.82	KIRYX	Salient International	Pair Corr
0.74	XDSMX	Dreyfus Strategic	Pair Corr
0.77	XNXJX	Nuveen New Jersey	Pair Corr
0.72	XNBHX	Neuberger Berman Int	Pair Corr

Moving against Salient Mutual Fund

0.68	GMOIX	Gmo International Equity	Pair Corr
0.53	HFHTX	Hartford Floating	Pair Corr
0.51	PFN	Pimco Income Strategy	Pair Corr
0.51	LIFAX	Lord Abbett Inflation	Pair Corr
0.46	TMACX	Touchstone Arbitrage	Pair Corr
0.34	JHDCX	Jpmorgan Hedged Equity	Pair Corr
0.32	XPPRX	Voya Prime Rate	Pair Corr
0.31	JHDRX	Jpmorgan Hedged Equity	Pair Corr

Related Correlations Analysis

	TSIMX	BIMPX	FTMRX	CMATX	QCGLRX	RMLCX
TSIMX		0.89	0.99	0.97	0.93	0.98	TSIMX
BIMPX	0.89		0.88	0.86	0.86	0.85	BIMPX
FTMRX	0.99	0.88		0.97	0.94	0.97	FTMRX
CMATX	0.97	0.86	0.97		0.88	0.97	CMATX
QCGLRX	0.93	0.86	0.94	0.88		0.85	QCGLRX
RMLCX	0.98	0.85	0.97	0.97	0.85		RMLCX
	TSIMX	BIMPX	FTMRX	CMATX	QCGLRX	RMLCX

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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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TSIMX	0.37	0.02	0.04	0.05	0.54	(0.35)	0.66	(0.72)	2.33
BIMPX	0.31	0.03	0.06	(0.48)	0.38	(0.37)	0.69	(0.55)	2.39
FTMRX	0.37	0.02	0.04	0.06	0.53	(0.37)	0.70	(0.63)	2.50
CMATX	0.39	0.00	0.01	0.01	0.57	(0.44)	0.88	(1.09)	3.41
QCGLRX	0.58	0.04	0.05	0.07	0.86	(0.54)	1.04	(1.40)	3.68
RMLCX	0.29	0.01	0.03	0.05	0.42	(0.31)	0.66	(0.54)	2.40

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