Salient Select Correlations

KIFAX Fund

USD 17.90 0.01 0.06%

The current 90-days correlation between Salient Select Income and Great West Goldman Sachs is 0.73 (i.e., Poor diversification). The correlation of Salient Select 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 Select Correlation With Market

Poor diversification

The correlation between Salient Select Income and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Salient Select Income and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Salient Select Income. 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 nation.

Moving together with Salient Mutual Fund

0.87	FTAGX	Salient Tactical Growth	Pair Corr
0.92	FTGMX	Salient Tactical Growth	Pair Corr
0.86	FTGOX	Salient Tactical Growth	Pair Corr
0.87	FTGWX	Salient Tactical Growth	Pair Corr
1.0	KIFYX	Salient Select Income	Pair Corr
0.75	SMAPX	Salient Mlp Energy	Pair Corr
0.74	SMFPX	Salient Mlp Energy	Pair Corr
0.75	SMLPX	Salient Mlp Energy	Pair Corr
0.75	SMRPX	Salient Mlp Energy	Pair Corr
0.92	CPXIX	Cohen Steers Prfrd	Pair Corr
0.92	CPXAX	Cohen Steers Preferd	Pair Corr
0.92	CPXCX	Cohen Steers Prefrd	Pair Corr
0.92	CPRRX	Cohen Steers Preferred	Pair Corr
0.92	CPXZX	Cohen Steers Preferred	Pair Corr
0.92	CPXFX	Cohen Steers Preferred	Pair Corr
0.92	PRFCX	Preferred Securities	Pair Corr
0.92	PPSIX	Preferred Securities	Pair Corr
0.93	PPSAX	Preferred Securities	Pair Corr
0.94	PDI	Pimco Dynamic Income	Pair Corr
0.89	FTCAX	Templeton Strained Bond	Pair Corr
0.66	WACIX	Western Asset E	Pair Corr
0.61	SGMYX	Sdit Gnma Fund	Pair Corr
0.92	KSMIX	Keeley Small Mid	Pair Corr
0.85	PBCAX	Prudential California	Pair Corr
0.92	LINKX	Blackrock Lifepath Idx	Pair Corr
0.75	BRMSX	Bramshill Income Per	Pair Corr
0.84	RGAVX	Rare Global Infrastr	Pair Corr
0.91	FRCYX	Fidelity Sustainable	Pair Corr
0.83	CEDLX	Destra International	Pair Corr

Moving against Salient Mutual Fund

0.6	SBTAX	Salient Tactical Plus	Pair Corr
0.59	SBTIX	Salient Tactical Plus	Pair Corr
0.57	BTPIX	Salient Tactical Plus	Pair Corr
0.92	UIPIX	Ultrashort Mid Cap	Pair Corr
0.89	USPSX	Profunds Ultrashort	Pair Corr
0.89	USPIX	Profunds Ultrashort	Pair Corr
0.64	TCTGX	Transamerica Cleartrack	Pair Corr
0.64	TCTJX	Transamerica Cleartrack	Pair Corr
0.63	TDKTX	Cleartrack 2015 Class	Pair Corr
0.59	TCSUX	Cleartrack 2020 Class	Pair Corr

Related Correlations Analysis

	MXKJX	AGGWX	EPGFX	UNWPX	UIPMX	IIGCX	FRGOX	OGMCX
MXKJX		0.26	0.54	0.61	0.19	0.36	0.46	0.42	MXKJX
AGGWX	0.26		0.92	0.84	0.99	0.99	0.96	0.94	AGGWX
EPGFX	0.54	0.92		0.97	0.89	0.95	0.95	0.89	EPGFX
UNWPX	0.61	0.84	0.97		0.8	0.89	0.92	0.84	UNWPX
UIPMX	0.19	0.99	0.89	0.8		0.98	0.94	0.93	UIPMX
IIGCX	0.36	0.99	0.95	0.89	0.98		0.98	0.95	IIGCX
FRGOX	0.46	0.96	0.95	0.92	0.94	0.98		0.98	FRGOX
OGMCX	0.42	0.94	0.89	0.84	0.93	0.95	0.98		OGMCX
	MXKJX	AGGWX	EPGFX	UNWPX	UIPMX	IIGCX	FRGOX	OGMCX

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Risk-Adjusted Indicators

There is a big difference between Salient Mutual Fund performing well and Salient Select 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 Select'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
MXKJX	0.72	0.07	0.06	0.20	0.66	(0.89)	1.88	(1.43)	5.35
AGGWX	1.52	0.16	(0.04)	(0.04)	2.24	(1.48)	2.98	(3.46)	11.80
EPGFX	1.35	0.23	0.00	(0.18)	1.93	(1.35)	2.35	(2.87)	10.25
UNWPX	1.21	0.27	0.04	(0.36)	1.18	(1.54)	2.72	(2.14)	7.43
UIPMX	1.54	0.16	(0.04)	(0.03)	2.24	(1.53)	3.04	(3.57)	11.90
IIGCX	1.57	0.21	(0.02)	(0.07)	2.21	(1.56)	3.27	(3.53)	12.48
FRGOX	1.48	0.23	(0.01)	(0.12)	2.03	(1.44)	3.01	(3.21)	11.91
OGMCX	1.37	0.16	(0.04)	(0.07)	1.94	(1.32)	2.72	(3.69)	10.45

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