Sierra E Correlations

SIRAX Fund

USD 22.97 0.06 0.26%

The current 90-days correlation between Sierra E Retirement and American Funds Tax Exempt is 0.2 (i.e., Modest diversification). The correlation of Sierra E 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 E Correlation With Market

Poor diversification

The correlation between Sierra E Retirement and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sierra E Retirement 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 E Retirement. 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 Sierra Mutual Fund

0.77	SSIIX	Sierra Strategic Income	Pair Corr
0.72	SSICX	Sierra Strategic Income	Pair Corr
0.76	STBDX	Sierra Tactical Bond	Pair Corr
0.66	STBNX	Sierra Tactical Bond	Pair Corr
0.72	STBJX	Sierra Tactical Bond	Pair Corr
0.72	SIRZX	Sierra E Retirement	Pair Corr
0.87	SIRRX	Sierra E Retirement	Pair Corr
0.88	SIRIX	Sierra E Retirement	Pair Corr
0.78	SIRJX	Sierra E Retirement	Pair Corr
0.67	FGVMX	Fidelity New Markets	Pair Corr
0.68	SOPAX	Clearbridge Dividend	Pair Corr
0.61	LDLKX	Lord Abbett Short	Pair Corr
0.72	AFGIX	Alger Global Growth	Pair Corr
0.73	TADGX	T Rowe Price	Pair Corr

Moving against Sierra Mutual Fund

0.49	XNBHX	Neuberger Berman Int	Pair Corr
0.42	XNXJX	Nuveen New Jersey	Pair Corr

Related Correlations Analysis

	TEPFX	QNZIX	DULTX	ATOAX	CWFIX	PRMDX	ORSTX
TEPFX		0.63	0.77	0.78	0.87	0.67	0.78	TEPFX
QNZIX	0.63		0.72	0.73	0.74	0.65	0.73	QNZIX
DULTX	0.77	0.72		0.99	0.87	0.77	0.99	DULTX
ATOAX	0.78	0.73	0.99		0.9	0.79	1.0	ATOAX
CWFIX	0.87	0.74	0.87	0.9		0.75	0.9	CWFIX
PRMDX	0.67	0.65	0.77	0.79	0.75		0.79	PRMDX
ORSTX	0.78	0.73	0.99	1.0	0.9	0.79		ORSTX
	TEPFX	QNZIX	DULTX	ATOAX	CWFIX	PRMDX	ORSTX

Risk-Adjusted Indicators

There is a big difference between Sierra Mutual Fund performing well and Sierra E 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 E'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
TEPFX	0.05	0.00	(0.40)	0.08	0.00	(0.10)	0.10	(0.10)	0.41
QNZIX	0.70	0.03	0.02	0.11	0.85	(0.71)	1.29	(1.20)	3.79
DULTX	0.03	0.00	0.00	0.04	0.00	0.00	0.10	(0.10)	0.51
ATOAX	0.01	0.00	0.00	0.47	0.00	0.00	0.00	0.00	0.20
CWFIX	0.07	0.00	(0.25)	0.19	0.00	(0.13)	0.11	(0.10)	0.83
PRMDX	0.03	0.00	0.00	0.23	0.00	0.00	0.19	0.00	0.39
ORSTX	0.02	0.00	0.00	0.16	0.00	0.00	0.00	0.00	0.27

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