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The following table shows
that Tactical managed futures have a low correlation with stocks
and bonds, a high correlation with managed futures, and above
average returns during the more than 40 years since our inception.
| |
Corr Coef |
Cmpd Rtrn |
| Tactical Institutional Commodity Program |
|
|
| 4/1/93 inception - 6/30/23 |
|
15.2% |
| Stocks - SP 500 Total Return Index |
-0.09 |
7.0% |
| Bonds - US TBond Total Return Index |
0.10 |
4.6% |
| Managed Futures - Barclay CTA Index |
0.70 |
4.5% |
| |
| Tactical Commodity Trading Program |
|
|
| 7/1/81 inception - 6/30/23 |
|
15.6% |
| Stocks - SP 500 Total Return Index |
-0.04 |
9.3% |
| Bonds - US TBond Total Return Index |
0.05 |
7.3% |
| Managed Futures
- Barclay CTA Index |
0.74 |
7.3% |
The correlation coefficients
are calculated using monthly returns. Compound annual returns
are calculated over the periods indicated. Indices include reinvested
dividends and/or interest. Note that no assurance can be made
that these relationships will hold in the future or that an investor
in Tactical will not lose money.
Remember that a correlation
coefficient is always in the range -1.0 to +1.0. The closer to
+1.0, the more completely correlated are the monthly returns of
the two investments; the closer to -1.0, the more completely they
are inversely correlated. When the returns of two investments
have low correlation, their correlation coefficient is closer
to zero, often between -0.25 and +0.25.
Sources of data:
Haver Analytics (1981 - 2021)
S&P Dow Jones Indices LLC (2022 - current)
Barclay Hedge (1981 - current)
US Tbond Total Return Index represents Haver 10yr Tnote Total
Return Index from 1981 - 2021 and S&P US TBond Total Return
Index from 2022 - current
Data sources are believed
to be accurate but there are no guarantees or warrantees for the
data.
Investing with Tactical is designed
for sophisticated investors who are able to bear a substantial
or entire loss of their investment. Before seeking this advisor's
services read and examine thoroughly the Disclosure Document.
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