Salient Tactical Correlations

FTGOX Fund

USD 22.73 0.03 0.13%

The current 90-days correlation between Salient Tactical Growth and Abs Insights Emerging 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

Very poor diversification

The correlation between Salient Tactical Growth and DJI is 0.85 (i.e., Very 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 persons.

Moving together with Salient Mutual Fund

0.93	FTAGX	Salient Tactical Growth	Pair Corr
0.83	FTGMX	Salient Tactical Growth	Pair Corr
1.0	FTGWX	Salient Tactical Growth	Pair Corr
0.77	KIFAX	Salient Select Income	Pair Corr
0.78	KIFYX	Salient Select Income	Pair Corr
0.68	SMAPX	Salient Mlp Energy	Pair Corr
0.68	SMFPX	Salient Mlp Energy	Pair Corr
0.67	SMLPX	Salient Mlp Energy	Pair Corr
0.69	SMRPX	Salient Mlp Energy	Pair Corr
0.83	JHQCX	Jpmorgan Hedged Equity	Pair Corr
0.83	JHEQX	Jpmorgan Hedged Equity	Pair Corr
0.83	JHQAX	Jpmorgan Hedged Equity	Pair Corr
0.87	GTENX	Gateway Fund Class	Pair Corr
0.87	GTECX	Gateway Fund Class	Pair Corr
0.87	GTEYX	Gateway Fund Class	Pair Corr
0.82	GATEX	Gateway Fund Class	Pair Corr
0.84	JHDCX	Jpmorgan Hedged Equity	Pair Corr
0.87	JHDRX	Jpmorgan Hedged Equity	Pair Corr
0.84	JHDAX	Jpmorgan Hedged Equity	Pair Corr
0.74	GAAKX	Gmo Alternative Allo	Pair Corr
0.73	GAAGX	Gmo Alternative Allo	Pair Corr
0.86	RPELX	T Rowe Price	Pair Corr
0.82	SEDAX	Siit Emerging Markets	Pair Corr
0.74	BSGIX	Baird Smallmid Cap	Pair Corr
0.77	MSAAX	Active International	Pair Corr
0.84	CAFCX	Amcap Fund Class	Pair Corr
0.87	JHBJX	John Hancock Funds	Pair Corr
0.84	PSDUX	Pimco Short Duration	Pair Corr
0.83	GRMAX	Nationwide Sp 500	Pair Corr

Moving against Salient Mutual Fund

0.51	SBTAX	Salient Tactical Plus	Pair Corr
0.5	SBTIX	Salient Tactical Plus	Pair Corr
0.46	BTPIX	Salient Tactical Plus	Pair Corr

Related Correlations Analysis

	IEMSX	FDZBPX	FBJYGX	IPSAX	WMCANX	HDCAX	AUUIX
IEMSX		0.0	-0.1	0.21	0.09	0.19	0.17	IEMSX
FDZBPX	0.0		0.96	0.91	0.95	0.91	0.94	FDZBPX
FBJYGX	-0.1	0.96		0.89	0.95	0.9	0.91	FBJYGX
IPSAX	0.21	0.91	0.89		0.97	0.99	0.99	IPSAX
WMCANX	0.09	0.95	0.95	0.97		0.97	0.99	WMCANX
HDCAX	0.19	0.91	0.9	0.99	0.97		0.99	HDCAX
AUUIX	0.17	0.94	0.91	0.99	0.99	0.99		AUUIX
	IEMSX	FDZBPX	FBJYGX	IPSAX	WMCANX	HDCAX	AUUIX

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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

HDCAX	+ 0.99	IPSAX
AUUIX	+ 0.99	IPSAX
AUUIX	+ 0.99	WMCANX
AUUIX	+ 0.99	HDCAX
WMCANX	+ 0.97	IPSAX
HDCAX	+ 0.97	WMCANX

High negative correlations

FBJYGX	- 0.1	IEMSX
FDZBPX	- 0.0	IEMSX

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
IEMSX	0.52	0.26	0.00	(7.49)	0.00	(0.67)	1.43	(0.74)	3.24
FDZBPX	0.55	0.04	(0.05)	0.32	0.59	(0.62)	1.20	(0.87)	8.93
FBJYGX	0.75	0.14	0.10	0.43	0.26	(0.96)	1.91	(1.05)	9.96
IPSAX	0.55	0.23	(0.11)	(0.57)	0.49	(0.67)	1.02	(1.11)	7.12
WMCANX	0.64	0.35	0.03	(0.93)	0.37	(0.77)	1.61	(1.25)	8.60
HDCAX	0.63	0.20	(0.09)	(2.52)	0.50	(0.77)	1.23	(1.08)	6.15
AUUIX	0.81	0.40	0.05	(0.94)	0.69	(0.95)	1.83	(1.49)	11.90

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