Sierra Strategic Correlations

SSIIX Fund

USD 19.84 0.02 0.10%

The current 90-days correlation between Sierra Strategic Income and Firsthand Alternative Energy is 0.35 (i.e., Weak diversification). The correlation of Sierra Strategic 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.

Sierra Strategic Correlation With Market

Very weak diversification

The correlation between Sierra Strategic Income and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sierra Strategic Income 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 Sierra Strategic 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 gross domestic product.

Moving together with Sierra Mutual Fund

0.86	STMEX	Sierra Tactical Municipal	Pair Corr
0.89	BSIKX	Blackrock Strategic	Pair Corr
0.9	BSICX	Blackrock Strategic Opps	Pair Corr
0.91	BASIX	Blackrock Strategic Opps	Pair Corr
0.93	BSIIX	Blackrock Strategic	Pair Corr
0.79	JSORX	Jpmorgan Strategic Income	Pair Corr
0.79	PMZNX	Pimco Mortgage Oppor	Pair Corr
0.77	JSOZX	Jpmorgan Strategic Income	Pair Corr
0.76	JSOCX	Jpmorgan Strategic Income	Pair Corr
0.78	JSOSX	Jpmorgan Strategic Income	Pair Corr
0.78	JSOAX	Jpmorgan Strategic Income	Pair Corr
0.81	XDSMX	Dreyfus Strategic	Pair Corr
0.76	XNXJX	Nuveen New Jersey	Pair Corr
0.8	NXJ	Nuveen New Jersey	Pair Corr
0.7	XNBHX	Neuberger Berman Int	Pair Corr
0.89	LIXSX	Lord Abbett Multi	Pair Corr
0.8	GRGDX	Goldman Sachs Enhanced	Pair Corr
0.62	FEGRX	First Eagle Global	Pair Corr
0.7	MVT	Blackrock Munivest	Pair Corr
0.72	SHSKX	Blackrock Health Sciences	Pair Corr
0.86	MBFCX	Total Return Bond	Pair Corr
0.97	WAVLX	Wavelength Interest Rate	Pair Corr
0.74	RYSPX	Sp 500 Fund	Pair Corr
0.62	FLOTX	Power Floating Rate	Pair Corr
0.75	NRK	Nuveen New York	Pair Corr
0.66	DILRX	Dfa International	Pair Corr
0.83	TRROX	T Rowe Price	Pair Corr
0.71	MIJFX	Matthews Japan	Pair Corr

Moving against Sierra Mutual Fund

0.39	CIF	Mfs Intermediate High	Pair Corr
0.33	FTISX	Fidelity International	Pair Corr

Related Correlations Analysis

	ALTEX	HNRGX	GMOWX	PSPFX	FIKAX	BACCX	IGNAX
ALTEX		0.06	0.39	0.5	-0.27	-0.23	0.57	ALTEX
HNRGX	0.06		0.83	0.66	0.78	0.87	0.62	HNRGX
GMOWX	0.39	0.83		0.77	0.64	0.57	0.84	GMOWX
PSPFX	0.5	0.66	0.77		0.46	0.37	0.88	PSPFX
FIKAX	-0.27	0.78	0.64	0.46		0.82	0.4	FIKAX
BACCX	-0.23	0.87	0.57	0.37	0.82		0.35	BACCX
IGNAX	0.57	0.62	0.84	0.88	0.4	0.35		IGNAX
	ALTEX	HNRGX	GMOWX	PSPFX	FIKAX	BACCX	IGNAX

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

IGNAX	+ 0.88	PSPFX
BACCX	+ 0.87	HNRGX
IGNAX	+ 0.84	GMOWX
GMOWX	+ 0.83	HNRGX
BACCX	+ 0.82	FIKAX
FIKAX	+ 0.78	HNRGX

High negative correlations

FIKAX	- 0.27	ALTEX
BACCX	- 0.23	ALTEX

Risk-Adjusted Indicators

There is a big difference between Sierra Mutual Fund performing well and Sierra Strategic 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 Sierra Strategic'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
ALTEX	1.74	0.17	0.08	0.16	2.23	(1.71)	3.84	(4.56)	14.57
HNRGX	0.89	0.09	0.05	0.23	1.05	(0.89)	1.81	(1.56)	5.60
GMOWX	0.96	0.17	0.08	2.86	1.06	(1.08)	2.02	(1.83)	5.52
PSPFX	1.24	0.29	0.17	0.41	1.30	(1.52)	3.08	(2.26)	7.71
FIKAX	0.71	0.07	0.01	0.60	0.87	(0.87)	1.63	(1.41)	4.98
BACCX	0.68	0.03	(0.03)	0.16	0.83	(0.72)	1.39	(1.24)	3.81
IGNAX	0.82	0.18	0.09	2.33	1.12	(0.83)	1.62	(2.10)	5.41

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