Sierra Tactical Correlations

Mutual Funds . USA . 
Fund . Sierra Tactical Municipal
STMEX Fund  USD 23.53  0.15  0.63%   
The current 90-days correlation between Sierra Tactical Municipal and Alliancebernstein Global Highome is 0.16 (i.e., Average diversification). The correlation of Sierra 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.

Sierra Tactical Correlation With Market

Average diversification

The correlation between Sierra Tactical Municipal and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sierra Tactical Municipal 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 Tactical Municipal. 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 income.

Moving together with Sierra Mutual Fund

  0.62NHMAX Nuveen High YieldPairCorr
  0.66NHCCX Nuveen High YieldPairCorr
  0.62NHMRX Nuveen High YieldPairCorr
  0.62NHMFX Nuveen High YieldPairCorr

Moving against Sierra Mutual Fund

  0.42STENX Northern LightsPairCorr
  0.42STEJX Northern LightsPairCorr
  0.41SRSNX Sierra Tactical RiskPairCorr
  0.41SRSJX Sierra Tactical RiskPairCorr
  0.39SRFNX Sierra Tactical RiskPairCorr
  0.39SRFKX Sierra Tactical RiskPairCorr
  0.39SRFJX Sierra Tactical RiskPairCorr
  0.36SIRZX Sierra E RetirementPairCorr
  0.36SIRAX Sierra E RetirementPairCorr
  0.35SIRRX Sierra E RetirementPairCorr
  0.35SIRIX Sierra E RetirementPairCorr
  0.35SIRCX Sierra E RetirementPairCorr
  0.35SIRJX Sierra E RetirementPairCorr
  0.34SRTJX Sierra Tactical RiskPairCorr
  0.34SRTNX Sierra Tactical RiskPairCorr
  0.45GICCX Goldman Sachs InternPairCorr
  0.4FTYPX Fidelity Freedom IndexPairCorr
  0.4FFBTX Fidelity Freedom BlendPairCorr
  0.39SRFQX Sierra Tactical RiskPairCorr
  0.38GMCQX Gmo Equity AllocationPairCorr
  0.37LMOIX Clearbridge Small CapPairCorr
  0.36AACGX Strategic Allocation:PairCorr
  0.36STSNX Sterling Capital StrattonPairCorr
  0.35GQLOX Gmo Quality FundPairCorr
  0.35GHVIX Gmo High YieldPairCorr
  0.32GCAVX Gmo Small CapPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Sierra Mutual Fund performing well and Sierra 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 Sierra 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.

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