Sierra Tactical Correlations

STBDX Fund

USD 26.20 0.01 0.04%

The current 90-days correlation between Sierra Tactical Bond and Eaton Vance Diversified is 0.51 (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 Bond and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sierra Tactical Bond 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 Bond. 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 unemployment.

Moving together with Sierra Mutual Fund

0.78	SRTJX	Sierra Tactical Risk	Pair Corr
0.99	SSIIX	Sierra Strategic Income	Pair Corr
0.98	SSICX	Sierra Strategic Income	Pair Corr
0.99	SSIRX	Sierra Strategic Income	Pair Corr
0.99	SSIZX	Sierra Strategic Income	Pair Corr
1.0	STBJX	Sierra Tactical Bond	Pair Corr
0.65	STMEX	Sierra Tactical Municipal	Pair Corr
0.67	SRFNX	Sierra Tactical Risk	Pair Corr
0.64	SRFKX	Sierra Tactical Risk	Pair Corr
0.69	SRFJX	Sierra Tactical Risk	Pair Corr
0.68	SRFQX	Sierra Tactical Risk	Pair Corr
0.78	BSIKX	Blackrock Strategic	Pair Corr
0.81	BSICX	Blackrock Strategic Opps	Pair Corr
0.81	BASIX	Blackrock Strategic Opps	Pair Corr
0.8	BSIIX	Blackrock Strategic	Pair Corr
0.61	JSORX	Jpmorgan Strategic Income	Pair Corr
0.61	JSOZX	Jpmorgan Strategic Income	Pair Corr
0.62	JSOCX	Jpmorgan Strategic Income	Pair Corr
0.63	JSOSX	Jpmorgan Strategic Income	Pair Corr
0.64	PMZCX	Pimco Mortgage Oppor	Pair Corr
0.73	BXECX	Barings Emerging Markets	Pair Corr
0.72	BXEIX	Barings Emerging Markets	Pair Corr
0.72	BXEAX	Barings Emerging Markets	Pair Corr
0.65	HLDIX	Hartford Emerging	Pair Corr
0.65	HLDRX	Hartford Emerging	Pair Corr
0.64	HLDAX	Hartford Emerging	Pair Corr
0.63	HLDCX	Hartford Emerging	Pair Corr
0.66	HLDTX	Hartford Emerging	Pair Corr

Related Correlations Analysis

	EIIMX	ACBPX	TIICX	FHCOX	DLTZX	FZABX	XWDIX	BICPX
EIIMX		0.96	0.65	0.85	0.93	0.88	0.6	0.76	EIIMX
ACBPX	0.96		0.61	0.87	0.96	0.82	0.67	0.77	ACBPX
TIICX	0.65	0.61		0.53	0.56	0.85	0.56	0.93	TIICX
FHCOX	0.85	0.87	0.53		0.96	0.82	0.35	0.62	FHCOX
DLTZX	0.93	0.96	0.56	0.96		0.83	0.5	0.69	DLTZX
FZABX	0.88	0.82	0.85	0.82	0.83		0.51	0.86	FZABX
XWDIX	0.6	0.67	0.56	0.35	0.5	0.51		0.67	XWDIX
BICPX	0.76	0.77	0.93	0.62	0.69	0.86	0.67		BICPX
	EIIMX	ACBPX	TIICX	FHCOX	DLTZX	FZABX	XWDIX	BICPX

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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
EIIMX	0.31	0.03	0.23	0.38	0.28	(0.39)	0.63	(0.62)	1.91
ACBPX	0.24	0.02	0.27	0.34	0.20	(0.30)	0.56	(0.44)	1.23
TIICX	0.37	0.01	0.00	(0.03)	0.00	0.00	0.78	(0.68)	1.57
FHCOX	0.05	0.01	0.00	0.92	0.00	0.00	0.10	(0.10)	0.51
DLTZX	0.08	0.01	0.46	0.67	0.00	(0.18)	0.26	(0.13)	0.64
FZABX	0.74	0.11	0.12	0.10	1.01	(0.73)	1.45	(1.37)	6.16
XWDIX	0.20	(0.02)	0.00	(0.34)	0.00	0.00	0.33	(0.46)	1.59
BICPX	0.24	0.01	0.16	(0.02)	0.31	(0.30)	0.54	(0.45)	1.55

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Sierra Tactical Correlations

Sierra Tactical Correlation With Market

Poor diversification

Moving together with Sierra Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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