Optimum Small Correlations

Mutual Funds . USA . 
Fund . Optimum Small Mid Cap
OASVX Fund  USD 13.05  0.04  0.31%   
The current 90-days correlation between Optimum Small Mid and Transamerica Asset Allocation is 0.87 (i.e., Very poor 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

Very poor diversification

The correlation between Optimum Small Mid Cap and DJI is 0.86 (i.e., Very poor 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 real.

Moving together with Optimum Mutual Fund

  0.98OASGX Optimum Small MidPairCorr
  0.64IMAAX Ivy Apollo MultiPairCorr
  0.62OCFIX Optimum Fixed IncomePairCorr
  0.96WASAX Ivy Asset StrategyPairCorr
  0.95WSGAX Ivy Small CapPairCorr
  0.93OCIEX Optimum InternationalPairCorr
  0.98OCLVX Optimum Large CapPairCorr
  0.96OCLGX Optimum Large CapPairCorr
  0.98OCSGX Optimum Small MidPairCorr
  1.0OCSVX Optimum Small MidPairCorr
  0.97WSTAX Ivy Science AndPairCorr
  0.88DMO Western Asset MortgagePairCorr
  0.97WCEAX Ivy E EquityPairCorr
  0.79DLTZX Delaware Limited TermPairCorr
  0.78DLTRX Delaware Limited TermPairCorr
  0.95IPOAX Ivy Emerging MarketsPairCorr
  0.74IRSAX Ivy Advantus RealPairCorr
  0.67OIFIX Optimum Fixed IncomePairCorr
  0.93OIIEX Optimum InternationalPairCorr
  0.96OILGX Optimum Large CapPairCorr
  0.98OILVX Optimum Large CapPairCorr
  0.69DPCFX Delaware DiversifiedPairCorr
  0.72DPDFX Delaware DiversifiedPairCorr
  0.71DPFFX Delaware DiversifiedPairCorr

Related Correlations Analysis

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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.

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