Sierra Tactical Correlations

STMHX Fund

USD 24.93 0.07 0.28%

The current 90-days correlation between Sierra Tactical Municipal and Delaware Limited Term Diversified is 0.24 (i.e., Modest 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

Good diversification

The correlation between Sierra Tactical Municipal and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sierra Tactical Municipal 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 Municipal. 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 rate.

Moving together with Sierra Mutual Fund

0.65	STBKX	Sierra Tactical Bond	Pair Corr
0.99	STMNX	Stone Toro Market	Pair Corr
0.99	STMKX	Sierra Tactical Municipal	Pair Corr
0.99	STMYX	Sierra Tactical Municipal	Pair Corr
0.94	NHCCX	Nuveen High Yield	Pair Corr
0.93	NHMRX	Nuveen High Yield	Pair Corr
0.93	NHMFX	Nuveen High Yield	Pair Corr
0.78	ABHFX	American High Income	Pair Corr
0.89	AHICX	American High Income	Pair Corr
0.83	AMHIX	American High Income	Pair Corr
0.82	GHYCX	Goldman Sachs High	Pair Corr
0.82	GHYAX	Goldman Sachs High	Pair Corr
0.89	ACTDX	Invesco High Yield	Pair Corr
0.68	PAETX	Putnam Retirement	Pair Corr
0.88	PYMPX	Pimco High Yield	Pair Corr
0.65	MSHYX	High Yield Portfolio	Pair Corr

Related Correlations Analysis

	DLTZX	FZABX	HIIDX	DIFIX	FHCOX	PGBAX	TIICX
DLTZX		0.81	0.8	0.92	0.87	0.87	0.5	DLTZX
FZABX	0.81		0.85	0.89	0.76	0.82	0.75	FZABX
HIIDX	0.8	0.85		0.83	0.86	0.91	0.75	HIIDX
DIFIX	0.92	0.89	0.83		0.8	0.92	0.71	DIFIX
FHCOX	0.87	0.76	0.86	0.8		0.87	0.51	FHCOX
PGBAX	0.87	0.82	0.91	0.92	0.87		0.75	PGBAX
TIICX	0.5	0.75	0.75	0.71	0.51	0.75		TIICX
	DLTZX	FZABX	HIIDX	DIFIX	FHCOX	PGBAX	TIICX

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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
DLTZX	0.09	0.01	0.10	2.68	0.00	(0.18)	0.26	(0.13)	0.64
FZABX	0.76	0.10	0.09	0.16	0.97	(0.75)	1.45	(1.37)	6.16
HIIDX	0.62	0.11	0.13	(0.90)	0.69	(0.64)	1.27	(0.88)	5.23
DIFIX	0.27	0.03	0.08	0.10	0.23	(0.34)	0.58	(0.41)	1.51
FHCOX	0.05	0.01	0.00	(3.94)	0.00	0.00	0.10	(0.10)	0.51
PGBAX	0.13	0.02	0.14	(0.58)	0.00	(0.19)	0.34	(0.17)	0.85
TIICX	0.37	0.03	0.07	(0.30)	0.33	(0.46)	0.78	(0.58)	1.57

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Sierra Tactical Correlations

Sierra Tactical Correlation With Market

Good diversification

Moving together with Sierra Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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