Sierra Tactical Correlations

SRTJX Fund

27.16 0.07 0.26%

The current 90-days correlation between Sierra Tactical Risk and Maryland Short Term Tax Free is 0.08 (i.e., Significant 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 0.67 (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

0.87	SRSNX	Sierra Tactical Risk	Pair Corr
0.87	SRSJX	Sierra Tactical Risk	Pair Corr
1.0	SRTNX	Sierra Tactical Risk	Pair Corr
0.88	STBDX	Sierra Tactical Bond	Pair Corr
0.87	STBNX	Sierra Tactical Bond	Pair Corr
0.86	STBJX	Sierra Tactical Bond	Pair Corr
0.8	STENX	Northern Lights	Pair Corr
0.8	STEJX	Northern Lights	Pair Corr
0.91	SIRZX	Sierra E Retirement	Pair Corr
0.93	SIRRX	Sierra E Retirement	Pair Corr
0.92	SIRAX	Sierra E Retirement	Pair Corr
0.91	SIRIX	Sierra E Retirement	Pair Corr
0.88	SIRCX	Sierra E Retirement	Pair Corr
0.92	SIRJX	Sierra E Retirement	Pair Corr
0.95	SRFNX	Sierra Tactical Risk	Pair Corr
0.96	SRFJX	Sierra Tactical Risk	Pair Corr
0.96	SRFQX	Sierra Tactical Risk	Pair Corr
0.79	FASIX	Fidelity Asset Manager	Pair Corr
0.77	FTIWX	Fidelity Asset Manager	Pair Corr
0.72	FTDWX	Fidelity Asset Manager	Pair Corr
0.76	FTAWX	Fidelity Asset Manager	Pair Corr
0.79	FIKVX	Fidelity Asset Manager	Pair Corr
0.69	FTCWX	Fidelity Asset Manager	Pair Corr
0.78	PFIPX	Strategic Asset Mana	Pair Corr

Moving against Sierra Mutual Fund

0.69	UIPIX	Ultrashort Mid Cap	Pair Corr
0.59	USPSX	Profunds Ultrashort	Pair Corr
0.59	USPIX	Profunds Ultrashort	Pair Corr

Related Correlations Analysis

	PRMDX	ASCLX	CFSTX	VISTX	QNZIX	BBSCX	TSDCX
PRMDX		0.15	0.55	0.49	0.29	0.58	0.28	PRMDX
ASCLX	0.15		-0.38	-0.16	0.89	-0.24	0.79	ASCLX
CFSTX	0.55	-0.38		0.92	-0.05	0.9	-0.24	CFSTX
VISTX	0.49	-0.16	0.92		0.2	0.89	-0.02	VISTX
QNZIX	0.29	0.89	-0.05	0.2		0.06	0.7	QNZIX
BBSCX	0.58	-0.24	0.9	0.89	0.06		0.04	BBSCX
TSDCX	0.28	0.79	-0.24	-0.02	0.7	0.04		TSDCX
	PRMDX	ASCLX	CFSTX	VISTX	QNZIX	BBSCX	TSDCX

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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

VISTX	+ 0.92	CFSTX
BBSCX	+ 0.9	CFSTX
QNZIX	+ 0.89	ASCLX
BBSCX	+ 0.89	VISTX
TSDCX	+ 0.79	ASCLX
TSDCX	+ 0.7	QNZIX

High negative correlations

CFSTX	- 0.38	ASCLX
TSDCX	- 0.24	CFSTX
BBSCX	- 0.24	ASCLX
VISTX	- 0.16	ASCLX
QNZIX	- 0.05	CFSTX
TSDCX	- 0.02	VISTX

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
PRMDX	0.06	0.00	(0.49)	0.04	0.00	(0.20)	0.20	(0.19)	0.59
ASCLX	0.37	0.00	(0.09)	0.13	0.35	(0.41)	0.77	(0.93)	2.91
CFSTX	0.08	0.00	(1.20)	0.08	0.00	(0.09)	0.12	(0.12)	0.50
VISTX	0.08	0.00	(1.01)	0.22	0.06	(0.10)	0.15	(0.15)	0.53
QNZIX	0.60	(0.01)	(0.06)	0.11	0.72	(0.61)	1.06	(1.07)	3.72
BBSCX	0.08	0.00	(0.88)	0.35	0.00	(0.16)	0.24	(0.12)	0.60
TSDCX	0.06	0.01	(1.02)	(0.63)	0.00	(0.16)	0.11	(0.11)	0.55

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