Oil Gas Correlations

ENPIX Fund

USD 36.53 0.07 0.19%

The current 90-days correlation between Oil Gas Ultrasector and Precious Metals Ultrasector is 0.4 (i.e., Very weak diversification). The correlation of Oil Gas 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.

Oil Gas Correlation With Market

Good diversification

The correlation between Oil Gas Ultrasector and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oil Gas Ultrasector and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Oil Gas Ultrasector. 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 Oil Mutual Fund

0.7	TEPSX	Technology Ultrasector Steady Growth	Pair Corr
0.66	LGPIX	Large Cap Growth	Pair Corr
0.65	LGPSX	Profunds Large Cap	Pair Corr
0.69	OTPIX	Nasdaq 100 Profund	Pair Corr
0.78	UJPIX	Ultrajapan Profund Steady Growth	Pair Corr
0.69	OTPSX	Nasdaq 100 Profund	Pair Corr
0.78	UJPSX	Ultrajapan Profund Steady Growth	Pair Corr
0.79	MLPSX	Mid Cap Value	Pair Corr
0.8	MLPIX	Mid Cap Value	Pair Corr
0.82	ENPSX	Oil Gas Ultrasector	Pair Corr
0.83	PHPIX	Pharmaceuticals Ultrasector Steady Growth	Pair Corr
0.83	PHPSX	Pharmaceuticals Ultrasector	Pair Corr
0.73	ULPIX	Ultrabull Profund	Pair Corr
0.73	ULPSX	Ultrabull Profund Steady Growth	Pair Corr
0.73	WCPIX	Mobile Telecommunicatio	Pair Corr
0.73	WCPSX	Mobile Telecommunicatio	Pair Corr
0.82	OEPSX	Oil Equipment Services	Pair Corr
0.61	CYPSX	Consumer Services Steady Growth	Pair Corr
0.61	CYPIX	Consumer Services	Pair Corr
0.82	OEPIX	Oil Equipment Services	Pair Corr
0.75	SVPIX	Small Cap Value	Pair Corr
0.75	SVPSX	Small Cap Value	Pair Corr
0.63	UMPSX	Ultramid Cap Profund	Pair Corr
0.73	UMPIX	Ultramid Cap Profund	Pair Corr

Moving against Oil Mutual Fund

0.75	UIPSX	Ultrashort Mid Cap	Pair Corr
0.74	SRPSX	Short Real Estate	Pair Corr
0.72	BRPSX	Bear Profund Bear	Pair Corr
0.68	UIPIX	Ultrashort Mid Cap	Pair Corr
0.68	BRPIX	Bear Profund Bear	Pair Corr
0.65	SRPIX	Short Real Estate	Pair Corr
0.8	UKPSX	Ultrashort Japan Profund	Pair Corr
0.8	UKPIX	Ultrashort Japan Profund	Pair Corr
0.73	SHPSX	Short Small Cap	Pair Corr
0.71	SHPIX	Short Small Cap	Pair Corr

Related Correlations Analysis

	PMPIX	REPIX	BMPIX	UTPIX	FNPIX
PMPIX		-0.38	-0.62	-0.17	-0.5	PMPIX
REPIX	-0.38		0.81	0.7	0.69	REPIX
BMPIX	-0.62	0.81		0.74	0.82	BMPIX
UTPIX	-0.17	0.7	0.74		0.56	UTPIX
FNPIX	-0.5	0.69	0.82	0.56		FNPIX
	PMPIX	REPIX	BMPIX	UTPIX	FNPIX

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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

FNPIX	+ 0.82	BMPIX
BMPIX	+ 0.81	REPIX
UTPIX	+ 0.74	BMPIX
UTPIX	+ 0.7	REPIX
FNPIX	+ 0.69	REPIX
FNPIX	+ 0.56	UTPIX

High negative correlations

BMPIX	- 0.62	PMPIX
FNPIX	- 0.5	PMPIX
REPIX	- 0.38	PMPIX
UTPIX	- 0.17	PMPIX

Risk-Adjusted Indicators

There is a big difference between Oil Mutual Fund performing well and Oil Gas 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 Oil Gas' 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
PMPIX	2.44	0.64	0.21	(5.82)	3.23	(2.64)	6.36	(5.23)	20.30
REPIX	1.61	(0.12)	0.00	0.23	0.00	0.00	2.94	(3.68)	11.85
BMPIX	1.75	(0.18)	0.00	0.59	0.00	0.00	3.57	(4.56)	18.54
UTPIX	1.45	(0.08)	0.00	0.20	0.00	0.00	2.86	(3.36)	11.64
FNPIX	1.76	0.07	0.00	(0.10)	0.00	0.00	3.15	(4.31)	15.73

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