Salient Tactical Correlations

Mutual Funds . USA . 
Fund . Salient Tactical Plus
BTPIX Fund  USD 10.77  0.01  0.09%   
The current 90-days correlation between Salient Tactical Plus and Pnc International Equity is -0.24 (i.e., Very good diversification). The correlation of Salient 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.

Salient Tactical Correlation With Market

Average diversification

The correlation between Salient Tactical Plus and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Salient Tactical Plus and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Salient Tactical Plus. 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 gross domestic product.

Moving together with Salient Mutual Fund

  1.0SBTAX Salient Tactical PlusPairCorr
  0.93SBTIX Salient Tactical PlusPairCorr

Moving against Salient Mutual Fund

  0.65JHQCX Jpmorgan Hedged EquityPairCorr
  0.65JHEQX Jpmorgan Hedged EquityPairCorr
  0.64JHQAX Jpmorgan Hedged EquityPairCorr
  0.61FTGMX Salient Tactical GrowthPairCorr
  0.61GTENX Gateway Fund ClassPairCorr
  0.61GTECX Gateway Fund ClassPairCorr
  0.61GTEYX Gateway Fund ClassPairCorr
  0.6GATEX Gateway Fund ClassPairCorr
  0.53KIFAX Salient Select IncomePairCorr
  0.51JHDCX Jpmorgan Hedged EquityPairCorr
  0.49SMAPX Salient Mlp EnergyPairCorr
  0.48KIFYX Salient Select IncomePairCorr
  0.48SMFPX Salient Mlp EnergyPairCorr
  0.48SMRPX Salient Mlp EnergyPairCorr
  0.47SMLPX Salient Mlp EnergyPairCorr
  0.31FTAGX Salient Tactical GrowthPairCorr
  0.31FTGWX Salient Tactical GrowthPairCorr
  0.66BTMPX Ishares Msci EafePairCorr
  0.66BTMKX Blackrock InternationalPairCorr
  0.66MKCMX Blackrock CaliforniaPairCorr
  0.65MDIIX Blackrock Intern IndexPairCorr
  0.63IWIRX Guinness Atkinson GlobalPairCorr
  0.63VADGX Vanguard Advice SelectPairCorr
  0.62FRCHX Fidelity Freedom BlendPairCorr
  0.62MCGFX Aston Montag CaldwellPairCorr
  0.61LEKKX Blackrock Lifepath EsgPairCorr
  0.6TBLPX T Rowe PricePairCorr
  0.6PSIFX Prudential Qma StockPairCorr
  0.52GBMFX Gmo Benchmark FreePairCorr
  0.52DDDAX 13d ActivistPairCorr
  0.51JHDRX Jpmorgan Hedged EquityPairCorr
  0.5JHDAX Jpmorgan Hedged EquityPairCorr
  0.5FSMMX Fs Multi StrategyPairCorr
  0.49DMNBX Dfa Mn MunicipalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Salient Mutual Fund performing well and Salient 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 Salient 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.

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