Salient Mlp Correlations

SMLPX Fund

USD 10.44 0.17 1.66%

The current 90-days correlation between Salient Mlp Energy and Salient Tactical Plus is -0.11 (i.e., Good diversification). The correlation of Salient Mlp 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 Mlp Correlation With Market

Very weak diversification

The correlation between Salient Mlp Energy and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Salient Mlp Energy and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Salient Mlp Energy. 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 american community survey.

Moving together with Salient Mutual Fund

0.61	FTAGX	Salient Tactical Growth	Pair Corr
0.85	FTGMX	Salient Tactical Growth	Pair Corr
0.62	FTGOX	Salient Tactical Growth	Pair Corr
0.64	FTGWX	Salient Tactical Growth	Pair Corr
0.86	SMAPX	Salient Mlp Energy	Pair Corr
0.86	SMFPX	Salient Mlp Energy	Pair Corr
0.8	SMRPX	Salient Mlp Energy	Pair Corr
0.78	TORCX	Tortoise Mlp Pipeline	Pair Corr
0.98	MLPTX	Oppenheimer Steelpath Mlp	Pair Corr
0.98	OSPSX	Oppenheimer Steelpath Mlp	Pair Corr
0.82	MLPZX	Oppenheimer Steelpath Mlp	Pair Corr
0.93	OSPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.91	MLPDX	Oppenheimer Steelpath Mlp	Pair Corr
0.81	MLPRX	Oppenheimer Steelpath Mlp	Pair Corr
0.93	GMLPX	Goldman Sachs Mlp	Pair Corr
0.93	GLPIX	Goldman Sachs Mlp	Pair Corr
0.93	GLPRX	Goldman Sachs Mlp	Pair Corr
0.76	FSMMX	Fs Multi Strategy	Pair Corr
0.85	BTMPX	Ishares Msci Eafe	Pair Corr
0.84	BTMKX	Blackrock International	Pair Corr
0.86	MDIIX	Blackrock Intern Index	Pair Corr
0.9	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.91	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.9	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.68	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.85	VNEYX	Vontobel Global Envi	Pair Corr
0.82	NPSFX	Nuveen Preferred Sec	Pair Corr
0.85	FDAAX	Franklin Floating Rate	Pair Corr
0.89	RPNIX	Riverpark/next Century	Pair Corr
0.84	VEIPX	Vanguard Equity Income	Pair Corr
0.85	QLEIX	Aqr Long Short	Pair Corr
0.88	OTCNX	Oppenheimer Cap Apprec	Pair Corr
0.86	SDYAX	Simt Dynamic Asset	Pair Corr
0.81	HCMQX	Hcm Dividend Sector	Pair Corr

Moving against Salient Mutual Fund

0.57	SBTIX	Salient Tactical Plus	Pair Corr
0.39	SBTAX	Salient Tactical Plus	Pair Corr
0.36	BTPIX	Salient Tactical Plus	Pair Corr

Related Correlations Analysis

	SBTAX	SBTIX	BTPIX	FTAGX	FTGMX	FTGOX	FTGWX	KIFAX	KIFYX	SMAPX
SBTAX		0.77	0.99	-0.27	-0.48	-0.25	-0.26	-0.4	-0.4	-0.31	SBTAX
SBTIX	0.77		0.79	-0.39	-0.69	-0.37	-0.39	-0.08	-0.09	-0.6	SBTIX
BTPIX	0.99	0.79		-0.22	-0.44	-0.2	-0.21	-0.35	-0.35	-0.29	BTPIX
FTAGX	-0.27	-0.39	-0.22		0.86	0.96	0.97	0.63	0.63	0.65	FTAGX
FTGMX	-0.48	-0.69	-0.44	0.86		0.83	0.85	0.49	0.49	0.88	FTGMX
FTGOX	-0.25	-0.37	-0.2	0.96	0.83		1.0	0.67	0.67	0.62	FTGOX
FTGWX	-0.26	-0.39	-0.21	0.97	0.85	1.0		0.66	0.66	0.64	FTGWX
KIFAX	-0.4	-0.08	-0.35	0.63	0.49	0.67	0.66		1.0	0.25	KIFAX
KIFYX	-0.4	-0.09	-0.35	0.63	0.49	0.67	0.66	1.0		0.26	KIFYX
SMAPX	-0.31	-0.6	-0.29	0.65	0.88	0.62	0.64	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

FTGWX	+ 1.0	FTGOX
KIFYX	+ 1.0	KIFAX
BTPIX	+ 0.99	SBTAX
FTGWX	+ 0.97	FTAGX
FTGOX	+ 0.96	FTAGX
SMAPX	+ 0.88	FTGMX

High negative correlations

FTGMX	- 0.69	SBTIX
SMAPX	- 0.6	SBTIX
FTGMX	- 0.48	SBTAX
FTGMX	- 0.44	BTPIX
KIFYX	- 0.4	SBTAX
KIFAX	- 0.4	SBTAX

Risk-Adjusted Indicators

There is a big difference between Salient Mutual Fund performing well and Salient Mlp 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 Mlp'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	0.20	(0.04)	0.00	(1.53)	0.00	0.00	0.29	(0.57)	1.32
BTPIX	0.19	(0.04)	0.00	1.36	0.00	0.00	0.28	(0.55)	0.84
FTAGX	0.14	0.03	(0.55)	(1.30)	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	0.14	0.00	(0.56)	0.13	0.05	(0.15)	0.31	(0.31)	0.75
FTGWX	0.13	0.00	(0.55)	0.16	0.00	(0.16)	0.34	(0.30)	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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