Salient Tactical Correlations

FTGMX Fund

USD 20.99 0.08 0.38%

The current 90-days correlation between Salient Tactical Growth and Salient Tactical Plus is -0.09 (i.e., 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

Good diversification

The correlation between Salient Tactical Growth and DJI is -0.06 (i.e., Good 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 population.

Moving together with Salient Mutual Fund

0.88	SMAPX	Salient Mlp Energy	Pair Corr
0.68	SMFPX	Salient Mlp Energy	Pair Corr
0.61	SMLPX	Salient Mlp Energy	Pair Corr
0.87	SMRPX	Salient Mlp Energy	Pair Corr
0.98	FFIFX	American Funds	Pair Corr
0.98	FAIFX	American Funds	Pair Corr
0.98	IFACX	Income Fund	Pair Corr
0.99	IFAFX	Income Fund	Pair Corr
0.99	AMECX	Income Fund	Pair Corr
0.99	RIDBX	Income Fund	Pair Corr
0.99	CIMEX	Income Fund	Pair Corr
0.98	RIDFX	Income Fund	Pair Corr
0.99	CIMCX	Income Fund	Pair Corr
0.98	CIMFX	Income Fund	Pair Corr
0.94	PFN	Pimco Income Strategy	Pair Corr
0.95	CIF	Mfs Intermediate High	Pair Corr
0.66	NXJ	Nuveen New Jersey	Pair Corr
0.94	PCF	Putnam High Income	Pair Corr
0.98	SDYAX	Simt Dynamic Asset	Pair Corr
1.0	RHGTX	American Funds 2040	Pair Corr
0.99	TVRCX	Guggenheim Directional	Pair Corr
0.67	SCIPX	Strategic Asset Mana	Pair Corr
0.95	SCUVX	Hartford Schroders Small	Pair Corr
0.98	RNCCX	American Funds Income	Pair Corr
0.99	TWCAX	Select Fund A	Pair Corr
0.93	MSGGX	Meridian Small Cap	Pair Corr
0.93	CIPIX	Champlain Mid Cap	Pair Corr
0.99	MISCX	Bny Mellon Small	Pair Corr
0.64	MRGEX	Msif Emerging Markets	Pair Corr

Moving against Salient Mutual Fund

0.48	SBTAX	Salient Tactical Plus	Pair Corr
0.45	SBTIX	Salient Tactical Plus	Pair Corr
0.44	BTPIX	Salient Tactical Plus	Pair Corr
0.45	XDSMX	Dreyfus Strategic	Pair Corr
0.43	XNBHX	Neuberger Berman Int	Pair Corr

Related Correlations Analysis

	SBTAX	SBTIX	BTPIX	FTAGX	FTGMX	FTGOX	FTGWX	KIFAX	KIFYX	SMAPX
SBTAX		1.0	0.99	-0.27	-0.48	-0.26	-0.27	-0.4	-0.4	-0.31	SBTAX
SBTIX	1.0		1.0	-0.25	-0.45	-0.24	-0.25	-0.39	-0.39	-0.29	SBTIX
BTPIX	0.99	1.0		-0.21	-0.44	-0.2	-0.21	-0.35	-0.35	-0.29	BTPIX
FTAGX	-0.27	-0.25	-0.21		0.45	1.0	1.0	0.9	0.9	0.22	FTAGX
FTGMX	-0.48	-0.45	-0.44	0.45		0.43	0.45	0.49	0.49	0.88	FTGMX
FTGOX	-0.26	-0.24	-0.2	1.0	0.43		1.0	0.9	0.89	0.2	FTGOX
FTGWX	-0.27	-0.25	-0.21	1.0	0.45	1.0		0.9	0.9	0.22	FTGWX
KIFAX	-0.4	-0.39	-0.35	0.9	0.49	0.9	0.9		1.0	0.25	KIFAX
KIFYX	-0.4	-0.39	-0.35	0.9	0.49	0.89	0.9	1.0		0.26	KIFYX
SMAPX	-0.31	-0.29	-0.29	0.22	0.88	0.2	0.22	0.25	0.26		SMAPX
	SBTAX	SBTIX	BTPIX	FTAGX	FTGMX	FTGOX	FTGWX	KIFAX	KIFYX	SMAPX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

SBTIX	+ 1.0	SBTAX
BTPIX	+ 1.0	SBTIX
FTGOX	+ 1.0	FTAGX
FTGWX	+ 1.0	FTAGX
FTGWX	+ 1.0	FTGOX
KIFYX	+ 1.0	KIFAX

High negative correlations

FTGMX	- 0.48	SBTAX
FTGMX	- 0.45	SBTIX
FTGMX	- 0.44	BTPIX
KIFYX	- 0.4	SBTAX
KIFAX	- 0.4	SBTAX
KIFYX	- 0.39	SBTIX

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
SBTAX	0.19	(0.04)	0.00	1.05	0.00	0.00	0.29	(0.48)	0.87
SBTIX	0.19	(0.05)	0.00	1.83	0.00	0.00	0.29	(0.57)	0.95
BTPIX	0.19	(0.04)	0.00	1.36	0.00	0.00	0.28	(0.55)	0.84
FTAGX	0.13	0.01	(0.55)	0.28	0.00	(0.16)	0.29	(0.29)	0.69
FTGMX	0.45	0.20	0.09	(4.30)	0.26	(0.54)	1.41	(1.02)	3.20
FTGOX	0.13	0.01	(0.53)	0.22	0.00	(0.15)	0.31	(0.31)	0.75
FTGWX	0.13	0.01	(0.52)	0.26	0.00	(0.15)	0.34	(0.26)	0.71
KIFAX	0.33	0.05	(0.11)	0.29	0.21	(0.38)	0.80	(0.62)	2.29
KIFYX	0.34	0.04	(0.11)	0.28	0.24	(0.40)	0.79	(0.63)	2.42
SMAPX	0.81	0.14	(0.01)	(0.50)	0.94	(0.88)	1.88	(1.55)	5.57

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