Sierra Strategic Correlations

SSIRX Fund

USD 19.44 0.04 0.21%

The current 90-days correlation between Sierra Strategic Income and Sierra E Retirement is 0.78 (i.e., Poor 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

Weak diversification

The correlation between Sierra Strategic Income and DJI is 0.37 (i.e., 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 metropolitan statistical area.

Moving together with Sierra Mutual Fund

0.9	SRSNX	Sierra Tactical Risk	Pair Corr
0.9	SRSJX	Sierra Tactical Risk	Pair Corr
0.95	SRTJX	Sierra Tactical Risk	Pair Corr
0.95	SRTNX	Sierra Tactical Risk	Pair Corr
1.0	SSIIX	Sierra Strategic Income	Pair Corr
1.0	SSICX	Sierra Strategic Income	Pair Corr
1.0	SSIZX	Sierra Strategic Income	Pair Corr
0.93	STBDX	Sierra Tactical Bond	Pair Corr
0.94	STBNX	Sierra Tactical Bond	Pair Corr
0.95	STBJX	Sierra Tactical Bond	Pair Corr
0.88	STEJX	Northern Lights	Pair Corr
0.94	SIRZX	Sierra E Retirement	Pair Corr
0.94	SIRRX	Sierra E Retirement	Pair Corr
0.94	SIRAX	Sierra E Retirement	Pair Corr
0.94	SIRIX	Sierra E Retirement	Pair Corr
0.94	SIRCX	Sierra E Retirement	Pair Corr
0.94	SIRJX	Sierra E Retirement	Pair Corr
0.91	SRFNX	Sierra Tactical Risk	Pair Corr
0.91	SRFKX	Sierra Tactical Risk	Pair Corr
0.91	SRFJX	Sierra Tactical Risk	Pair Corr
0.96	BSIKX	Blackrock Strategic	Pair Corr
0.95	BSICX	Blackrock Strategic Opps	Pair Corr
0.96	BASIX	Blackrock Strategic Opps	Pair Corr
0.96	BSIIX	Blackrock Strategic	Pair Corr
0.91	JSORX	Jpmorgan Strategic Income	Pair Corr
0.9	JSOZX	Jpmorgan Strategic Income	Pair Corr
0.88	JSOCX	Jpmorgan Strategic Income	Pair Corr
0.9	JSOSX	Jpmorgan Strategic Income	Pair Corr
0.9	JSOAX	Jpmorgan Strategic Income	Pair Corr
0.95	PMZCX	Pimco Mortgage Oppor	Pair Corr
0.94	PFN	Pimco Income Strategy	Pair Corr
0.88	CIF	Mfs Intermediate High	Pair Corr
0.62	NXJ	Nuveen New Jersey	Pair Corr
0.81	PCF	Putnam High Income	Pair Corr

Moving against Sierra Mutual Fund

0.53	XNBHX	Neuberger Berman Int	Pair Corr
0.47	XDSMX	Dreyfus Strategic	Pair Corr

Related Correlations Analysis

	SIRRX	STBJX	STMEX	SRFJX	NTBIX
SIRRX		0.81	-0.35	1.0	0.98	SIRRX
STBJX	0.81		-0.07	0.77	0.82	STBJX
STMEX	-0.35	-0.07		-0.39	-0.34	STMEX
SRFJX	1.0	0.77	-0.39		0.98	SRFJX
NTBIX	0.98	0.82	-0.34	0.98		NTBIX
	SIRRX	STBJX	STMEX	SRFJX	NTBIX

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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

SRFJX	+ 1.0	SIRRX
NTBIX	+ 0.98	SIRRX
NTBIX	+ 0.98	SRFJX
NTBIX	+ 0.82	STBJX
STBJX	+ 0.81	SIRRX
SRFJX	+ 0.77	STBJX

High negative correlations

SRFJX	- 0.39	STMEX
STMEX	- 0.35	SIRRX
NTBIX	- 0.34	STMEX
STMEX	- 0.07	STBJX

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
SIRRX	0.19	0.04	(0.23)	0.40	0.00	(0.23)	0.56	(0.42)	1.18
STBJX	0.14	0.00	(0.51)	0.16	0.09	(0.17)	0.28	(0.28)	0.86
STMEX	0.11	(0.04)	0.00	(1.15)	0.00	0.00	0.21	(0.30)	0.76
SRFJX	0.21	0.06	(0.14)	0.45	0.00	(0.27)	0.56	(0.43)	1.38
NTBIX	0.14	0.03	(0.36)	0.35	0.00	(0.19)	0.32	(0.21)	1.28

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