Optimum Small Correlations

OASGX Fund

USD 10.40 0.03 0.29%

The current 90-days correlation between Optimum Small Mid and Ab Global Bond is -0.23 (i.e., Very good diversification). The correlation of Optimum Small 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.

Optimum Small Correlation With Market

Almost no diversification

The correlation between Optimum Small Mid Cap and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Optimum Small Mid Cap and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Optimum Small Mid Cap. 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 price.

Moving together with Optimum Mutual Fund

0.97	OASVX	Optimum Small Mid	Pair Corr
0.86	OCLVX	Optimum Large Cap	Pair Corr
0.9	OCLGX	Optimum Large Cap	Pair Corr
0.92	OCSGX	Optimum Small Mid	Pair Corr
0.97	OCSVX	Optimum Small Mid	Pair Corr
0.88	WSTAX	Ivy Science And	Pair Corr
0.9	WCEAX	Ivy E Equity	Pair Corr
0.76	FTORX	First Investors Tax	Pair Corr
0.78	DLRHX	Delaware Healthcare	Pair Corr
0.65	IPOAX	Ivy Emerging Markets	Pair Corr
0.65	DMHIX	Delaware Minnesota High	Pair Corr
0.79	IRSAX	Ivy Advantus Real	Pair Corr
0.86	OILVX	Optimum Large Cap	Pair Corr
0.87	WHIAX	Ivy High Income	Pair Corr
0.9	IBNAX	Ivy Balanced	Pair Corr
0.89	WLGAX	Ivy Large Cap	Pair Corr
0.84	IGNAX	Ivy Natural Resources	Pair Corr
1.0	VSGAX	Vanguard Small Cap	Pair Corr
1.0	VSGIX	Vanguard Small Cap	Pair Corr
1.0	VISGX	Vanguard Small Cap	Pair Corr
1.0	VEXPX	Vanguard Explorer	Pair Corr
1.0	VEXRX	Vanguard Explorer	Pair Corr
0.91	JGMIX	Janus Triton	Pair Corr
0.91	JGMRX	Janus Triton	Pair Corr
0.99	JGMAX	Janus Triton	Pair Corr
0.99	JGMCX	Janus Triton	Pair Corr
0.99	JGMNX	Janus Triton	Pair Corr
0.7	PFN	Pimco Income Strategy	Pair Corr
0.8	XDSMX	Dreyfus Strategic	Pair Corr
0.72	CIF	Mfs Intermediate High	Pair Corr

Moving against Optimum Mutual Fund

0.67	DLTRX	Delaware Limited Term	Pair Corr
0.65	DLTZX	Delaware Limited Term	Pair Corr
0.69	DULTX	Delaware Investments	Pair Corr
0.35	INBQX	Aim Investment Funds	Pair Corr

Related Correlations Analysis

	ANAZX	NGJCX	TBCUX	GMADX	MSTGX	HRLAX
ANAZX		0.24	0.3	-0.05	0.13	0.37	ANAZX
NGJCX	0.24		0.51	0.91	0.89	0.48	NGJCX
TBCUX	0.3	0.51		0.46	0.61	0.85	TBCUX
GMADX	-0.05	0.91	0.46		0.93	0.42	GMADX
MSTGX	0.13	0.89	0.61	0.93		0.59	MSTGX
HRLAX	0.37	0.48	0.85	0.42	0.59		HRLAX
	ANAZX	NGJCX	TBCUX	GMADX	MSTGX	HRLAX

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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

MSTGX	+ 0.93	GMADX
GMADX	+ 0.91	NGJCX
MSTGX	+ 0.89	NGJCX
HRLAX	+ 0.85	TBCUX
MSTGX	+ 0.61	TBCUX
HRLAX	+ 0.59	MSTGX

High negative correlations

GMADX

- 0.05

ANAZX

Risk-Adjusted Indicators

There is a big difference between Optimum Mutual Fund performing well and Optimum Small 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 Optimum Small'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
ANAZX	0.20	0.00	0.33	0.04	0.22	(0.31)	0.44	(0.44)	1.30
NGJCX	0.82	0.09	0.10	0.03	1.31	(0.78)	1.57	(1.95)	6.54
TBCUX	0.80	0.23	0.22	0.30	1.06	(0.92)	2.01	(1.17)	7.83
GMADX	0.87	0.11	0.09	0.01	1.42	(0.89)	1.78	(1.93)	8.63
MSTGX	0.42	0.05	0.17	0.03	0.72	(0.42)	0.85	(0.98)	4.02
HRLAX	0.51	0.10	0.17	0.13	0.83	(0.59)	0.94	(1.17)	5.12

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