Sierra Strategic Correlations

SSIRX Fund

USD 19.87 0.01 0.05%

The current 90-days correlation between Sierra Strategic Income and Sierra E Retirement is 0.8 (i.e., Very poor diversification). The correlation of Sierra Strategic 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 Strategic Correlation With Market

Poor diversification

The correlation between Sierra Strategic Income and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sierra Strategic Income 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 Strategic Income. 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

0.7	SRTJX	Sierra Tactical Risk	Pair Corr
1.0	SSIIX	Sierra Strategic Income	Pair Corr
0.98	SSICX	Sierra Strategic Income	Pair Corr
1.0	SSIZX	Sierra Strategic Income	Pair Corr
0.78	STBDX	Sierra Tactical Bond	Pair Corr
0.9	STBJX	Sierra Tactical Bond	Pair Corr
0.64	STMEX	Sierra Tactical Municipal	Pair Corr
0.64	SRFJX	Sierra Tactical Risk	Pair Corr
0.63	SRFQX	Sierra Tactical Risk	Pair Corr
0.79	BSIKX	Blackrock Strategic	Pair Corr
0.82	BSICX	Blackrock Strategic Opps	Pair Corr
0.81	BASIX	Blackrock Strategic Opps	Pair Corr
0.8	BSIIX	Blackrock Strategic	Pair Corr
0.7	MGGYX	Mirova Global Green	Pair Corr
0.69	MGGAX	Mirova Global Green	Pair Corr
0.64	HLDAX	Hartford Emerging	Pair Corr
0.63	HLDCX	Hartford Emerging	Pair Corr

Related Correlations Analysis

	SIRRX	STBJX	STMEX	SRFJX	NTBIX
SIRRX		0.33	0.01	0.85	0.32	SIRRX
STBJX	0.33		0.7	0.63	0.9	STBJX
STMEX	0.01	0.7		0.32	0.64	STMEX
SRFJX	0.85	0.63	0.32		0.55	SRFJX
NTBIX	0.32	0.9	0.64	0.55		NTBIX
	SIRRX	STBJX	STMEX	SRFJX	NTBIX

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Risk-Adjusted Indicators

There is a big difference between Sierra Mutual Fund performing well and Sierra Strategic 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 Strategic'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
SIRRX	0.33	(0.04)	0.00	(0.09)	0.00	0.00	0.59	(0.71)	1.99
STBJX	0.15	0.01	0.04	(0.26)	0.12	(0.16)	0.34	(0.34)	1.14
STMEX	0.16	(0.01)	(0.04)	0.23	0.22	(0.17)	0.36	(0.40)	0.99
SRFJX	0.36	(0.03)	0.00	0.36	0.00	0.00	0.70	(0.88)	2.21
NTBIX	0.15	0.01	0.04	0.06	0.08	(0.19)	0.30	(0.30)	1.11

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Sierra Strategic Correlations

Sierra Strategic Correlation With Market

Poor diversification

Moving together with Sierra Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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