Optimum Small-mid Correlations

Mutual Funds . USA . 
Fund . Optimum Small Mid Cap
OCSGX Fund  USD 6.86  0.01  0.15%   
The current 90-days correlation between Optimum Small Mid and Wells Fargo Spectrum is -0.18 (i.e., Good diversification). The correlation of Optimum Small-mid 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-mid Correlation With Market

Very poor diversification

The correlation between Optimum Small Mid Cap and DJI is 0.87 (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 price.

Moving together with Optimum Mutual Fund

  0.96OASVX Optimum Small MidPairCorr
  0.65IMAAX Ivy Apollo MultiPairCorr
  0.98WASAX Ivy Asset StrategyPairCorr
  0.99OCLVX Optimum Large CapPairCorr
  0.98OCLGX Optimum Large CapPairCorr
  0.98OCSVX Optimum Small MidPairCorr
  0.98WSTAX Ivy Science AndPairCorr
  0.9DMO Western Asset MortgagePairCorr
  0.82DLTZX Delaware Limited TermPairCorr
  0.83DLTRX Delaware Limited TermPairCorr
  0.69OIFIX Optimum Fixed IncomePairCorr
  0.97OIIEX Optimum InternationalPairCorr
  0.98OILGX Optimum Large CapPairCorr
  0.97OILVX Optimum Large CapPairCorr
  1.0OISGX Optimum Small MidPairCorr
  0.98OISVX Optimum Small MidPairCorr
  0.95WHIAX Ivy High IncomePairCorr
  0.95DPRRX Delaware ReitPairCorr
  0.94DPREX Delaware ReitPairCorr
  0.99FIZRX Delaware OpportunityPairCorr
  0.98IWGAX Ivy Wilshire GlobalPairCorr
  0.98IEYAX Ivy Energy FundPairCorr
  0.97WLGAX Ivy Large CapPairCorr
  0.99DCCIX Delaware Small CapPairCorr
  0.97DCCCX Delaware Small CapPairCorr
  0.92DULTX Delaware InvestmentsPairCorr
  0.94IGNAX Ivy Natural ResourcesPairCorr
  0.97DDDRX Delaware Wealth BuilderPairCorr
  0.97DDFFX Delaware Floating RatePairCorr
  0.97DDFZX Delaware Floating RatePairCorr
  0.98DDVIX Delaware ValuePairCorr
  0.96DDVAX Delaware ValuePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Optimum Mutual Fund performing well and Optimum Small-mid 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-mid'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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