Sierra Core Correlations

SIRRX Fund

USD 22.84 0.01 0.04%

The current 90-days correlation between Sierra E Retirement and Growth Opportunities Fund is 0.55 (i.e., Very weak diversification). The correlation of Sierra Core 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.

Sierra Core Correlation With Market

Poor diversification

The correlation between Sierra E Retirement and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sierra E Retirement 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 Sierra E Retirement. 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 metropolitan statistical area.

Moving together with Sierra Mutual Fund

0.69	SRSNX	Sierra Tactical Risk	Pair Corr
0.68	SRSJX	Sierra Tactical Risk	Pair Corr
0.93	SRTJX	Sierra Tactical Risk	Pair Corr
0.94	SRTNX	Sierra Tactical Risk	Pair Corr
0.63	SSIIX	Sierra Strategic Income	Pair Corr
0.65	SSIRX	Sierra Strategic Income	Pair Corr
0.63	SSIZX	Sierra Strategic Income	Pair Corr
0.76	STBDX	Sierra Tactical Bond	Pair Corr
0.72	STBNX	Sierra Tactical Bond	Pair Corr
0.69	STBJX	Sierra Tactical Bond	Pair Corr
0.99	SIRZX	Sierra E Retirement	Pair Corr
1.0	SIRAX	Sierra E Retirement	Pair Corr
1.0	SIRIX	Sierra E Retirement	Pair Corr
0.99	SIRCX	Sierra E Retirement	Pair Corr
1.0	SIRJX	Sierra E Retirement	Pair Corr
0.84	SRFNX	Sierra Tactical Risk	Pair Corr
0.84	SRFJX	Sierra Tactical Risk	Pair Corr
0.85	SRFQX	Sierra Tactical Risk	Pair Corr
0.74	PAALX	All Asset Fund	Pair Corr
0.74	PATRX	Pimco All Asset	Pair Corr
0.76	PAAIX	All Asset Fund	Pair Corr
0.75	PALPX	Pimco All Asset	Pair Corr
0.74	PASAX	All Asset Fund	Pair Corr
0.71	PASCX	All Asset Fund	Pair Corr
0.75	PAANX	Pimco All Asset	Pair Corr

Related Correlations Analysis

	TGVVX	CNGLX	TWBIX	EICVX	LIOTX	SMPIX	LANIX
TGVVX		0.45	0.81	0.88	0.91	0.84	0.98	TGVVX
CNGLX	0.45		0.7	0.58	0.43	0.33	0.57	CNGLX
TWBIX	0.81	0.7		0.81	0.69	0.65	0.89	TWBIX
EICVX	0.88	0.58	0.81		0.89	0.62	0.91	EICVX
LIOTX	0.91	0.43	0.69	0.89		0.72	0.89	LIOTX
SMPIX	0.84	0.33	0.65	0.62	0.72		0.82	SMPIX
LANIX	0.98	0.57	0.89	0.91	0.89	0.82		LANIX
	TGVVX	CNGLX	TWBIX	EICVX	LIOTX	SMPIX	LANIX

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Risk-Adjusted Indicators

There is a big difference between Sierra Mutual Fund performing well and Sierra Core 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 Sierra Core'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
TGVVX	0.71	0.02	0.01	0.15	1.01	(0.67)	1.47	(1.84)	4.86
CNGLX	0.54	(0.10)	(0.15)	0.00	0.78	(0.52)	1.04	(1.18)	3.68
TWBIX	0.35	(0.02)	(0.16)	0.08	0.41	(0.39)	0.77	(0.92)	2.38
EICVX	0.47	(0.01)	(0.13)	0.11	0.38	(0.56)	1.06	(0.71)	2.04
LIOTX	0.63	0.07	0.03	0.24	0.69	(0.74)	1.25	(1.28)	3.54
SMPIX	2.61	(0.19)	(0.01)	0.03	3.88	(2.40)	4.26	(6.39)	17.06
LANIX	0.50	(0.02)	(0.07)	0.10	0.53	(0.55)	0.99	(0.87)	3.06

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Sierra Core Correlations

Sierra Core Correlation With Market

Poor diversification

Moving together with Sierra Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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