Salient Tactical Correlations

FTAGX Fund

USD 24.85 0.01 0.04%

The current 90-days correlation between Salient Tactical Growth and Enhanced Fixed Income is 0.54 (i.e., Very weak 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

Poor diversification

The correlation between Salient Tactical Growth and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Salient Tactical Growth and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Salient Tactical Growth. 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 price.

Moving together with Salient Mutual Fund

0.86	FTGMX	Salient Tactical Growth	Pair Corr
1.0	FTGOX	Salient Tactical Growth	Pair Corr
1.0	FTGWX	Salient Tactical Growth	Pair Corr
0.87	KIFAX	Salient Select Income	Pair Corr
0.87	KIFYX	Salient Select Income	Pair Corr
0.66	SMAPX	Salient Mlp Energy	Pair Corr
0.65	SMFPX	Salient Mlp Energy	Pair Corr
0.64	SMLPX	Salient Mlp Energy	Pair Corr
0.67	SMRPX	Salient Mlp Energy	Pair Corr
0.82	JHQCX	Jpmorgan Hedged Equity	Pair Corr
0.82	JHEQX	Jpmorgan Hedged Equity	Pair Corr
0.82	JHQAX	Jpmorgan Hedged Equity	Pair Corr
0.86	GTENX	Gateway Fund Class	Pair Corr
0.86	GTECX	Gateway Fund Class	Pair Corr
0.86	GTEYX	Gateway Fund Class	Pair Corr
0.86	GATEX	Gateway Fund Class	Pair Corr
0.88	JHDCX	Jpmorgan Hedged Equity	Pair Corr
0.88	JHDRX	Jpmorgan Hedged Equity	Pair Corr
0.88	JHDAX	Jpmorgan Hedged Equity	Pair Corr
0.83	GAAKX	Gmo Alternative Allo	Pair Corr
0.83	GAAGX	Gmo Alternative Allo	Pair Corr
0.76	GPBFX	Gmo E Plus	Pair Corr
0.9	RPELX	T Rowe Price	Pair Corr
0.91	SEDAX	Siit Emerging Markets	Pair Corr
0.66	BSGIX	Baird Smallmid Cap	Pair Corr
0.77	MSAAX	Active International	Pair Corr
0.87	CAFCX	Amcap Fund Class	Pair Corr
0.86	JHBJX	John Hancock Funds	Pair Corr
0.9	PSDUX	Pimco Short Duration	Pair Corr
0.87	GRMAX	Nationwide Sp 500	Pair Corr

Moving against Salient Mutual Fund

0.38	SBTAX	Salient Tactical Plus	Pair Corr
0.36	SBTIX	Salient Tactical Plus	Pair Corr
0.33	BTPIX	Salient Tactical Plus	Pair Corr

Related Correlations Analysis

	AAEZX	PBNAX	TWTCX	MBSAX	ABNCX	GHVIX
AAEZX		0.92	0.88	0.99	0.78	0.99	AAEZX
PBNAX	0.92		0.84	0.93	0.86	0.87	PBNAX
TWTCX	0.88	0.84		0.89	0.7	0.87	TWTCX
MBSAX	0.99	0.93	0.89		0.78	0.98	MBSAX
ABNCX	0.78	0.86	0.7	0.78		0.73	ABNCX
GHVIX	0.99	0.87	0.87	0.98	0.73		GHVIX
	AAEZX	PBNAX	TWTCX	MBSAX	ABNCX	GHVIX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
AAEZX	0.23	0.04	(0.15)	0.31	0.00	(0.31)	0.61	(0.40)	1.83
PBNAX	0.21	0.02	(0.36)	0.34	0.15	(0.24)	0.43	(0.42)	1.13
TWTCX	0.11	0.00	(0.65)	0.17	0.02	(0.17)	0.28	(0.19)	0.77
MBSAX	0.25	0.04	(0.16)	0.32	0.08	(0.29)	0.52	(0.50)	1.62
ABNCX	0.14	0.02	(0.37)	(2.69)	0.09	(0.17)	0.30	(0.39)	1.09
GHVIX	0.18	0.05	(0.26)	0.45	0.00	(0.23)	0.48	(0.29)	1.35

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