Sierra Tactical Correlations

SRFJX Fund

USD 23.90 0.08 0.33%

The current 90-days correlation between Sierra Tactical Risk and Flakqx is 0.47 (i.e., Very weak diversification). The correlation of Sierra 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.

Sierra Tactical Correlation With Market

Poor diversification

The correlation between Sierra Tactical Risk and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sierra Tactical Risk 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 Tactical Risk. 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 inflation.

Moving together with Sierra Mutual Fund

0.91	SRSNX	Sierra Tactical Risk	Pair Corr
0.91	SRSJX	Sierra Tactical Risk	Pair Corr
0.97	SRTJX	Sierra Tactical Risk	Pair Corr
0.68	SSIIX	Sierra Strategic Income	Pair Corr
0.74	SSICX	Sierra Strategic Income	Pair Corr
0.65	SSIRX	Sierra Strategic Income	Pair Corr
0.68	SSIZX	Sierra Strategic Income	Pair Corr
0.69	STBDX	Sierra Tactical Bond	Pair Corr
0.63	STBJX	Sierra Tactical Bond	Pair Corr
0.94	SIRZX	Sierra E Retirement	Pair Corr
0.95	SIRRX	Sierra E Retirement	Pair Corr
0.94	SIRAX	Sierra E Retirement	Pair Corr
0.94	SIRIX	Sierra E Retirement	Pair Corr
0.93	SIRCX	Sierra E Retirement	Pair Corr
0.94	SIRJX	Sierra E Retirement	Pair Corr
1.0	SRFNX	Sierra Tactical Risk	Pair Corr
1.0	SRFKX	Sierra Tactical Risk	Pair Corr
1.0	SRFQX	Sierra Tactical Risk	Pair Corr
0.64	BKMIX	Blackrock Multi Asset	Pair Corr

Moving against Sierra Mutual Fund

0.74	USPSX	Profunds Ultrashort	Pair Corr
0.4	TDKTX	Cleartrack 2015 Class	Pair Corr
0.4	TCTJX	Transamerica Cleartrack	Pair Corr
0.39	TCTGX	Transamerica Cleartrack	Pair Corr
0.73	USPIX	Profunds Ultrashort	Pair Corr
0.67	UIPIX	Ultrashort Mid Cap	Pair Corr
0.34	TCSUX	Cleartrack 2020 Class	Pair Corr

Related Correlations Analysis

	FLAKQX	EICVX	CABIX	WRLDX	WABMSX
FLAKQX		0.41	0.85	0.65	0.9	FLAKQX
EICVX	0.41		0.72	0.91	0.55	EICVX
CABIX	0.85	0.72		0.88	0.9	CABIX
WRLDX	0.65	0.91	0.88		0.73	WRLDX
WABMSX	0.9	0.55	0.9	0.73		WABMSX
	FLAKQX	EICVX	CABIX	WRLDX	WABMSX

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Risk-Adjusted Indicators

There is a big difference between Sierra Mutual Fund performing well and Sierra 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 Sierra 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
FLAKQX	0.83	0.04	0.05	(0.01)	1.12	(0.93)	1.75	(2.40)	4.80
EICVX	0.59	0.09	0.15	0.10	0.72	(0.61)	1.21	(1.42)	2.93
CABIX	0.38	0.01	0.00	(0.05)	0.00	0.00	0.73	(0.80)	2.58
WRLDX	0.64	0.04	0.00	(0.01)	0.00	0.00	1.24	(1.68)	2.96
WABMSX	0.62	0.05	0.09	0.02	0.81	(0.62)	1.38	(1.29)	3.66

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