Short Oil Correlations

SNPIX Fund

USD 13.82 0.24 1.71%

The current 90-days correlation between Short Oil Gas and Principal Real Estate is -0.42 (i.e., Very good diversification). The correlation of Short Oil 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.

Short Oil Correlation With Market

Pay attention - limited upside

The correlation between Short Oil Gas and DJI is -0.8 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Short Oil Gas and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Short Oil Gas. 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 against Short Mutual Fund

0.98	ENPSX	Oil Gas Ultrasector Steady Growth	Pair Corr
0.98	ENPIX	Oil Gas Ultrasector Steady Growth	Pair Corr
0.74	MLPSX	Mid Cap Value	Pair Corr
0.73	MLPIX	Mid Cap Value	Pair Corr
0.57	UJPIX	Ultrajapan Profund	Pair Corr
0.57	UJPSX	Ultrajapan Profund	Pair Corr
0.4	GVPIX	Us Government Plus	Pair Corr
0.4	GVPSX	Us Government Plus	Pair Corr
0.32	TEPIX	Technology Ultrasector	Pair Corr
0.32	TEPSX	Technology Ultrasector	Pair Corr
0.96	OEPSX	Oil Equipment Services Steady Growth	Pair Corr
0.96	OEPIX	Oil Equipment Services Steady Growth	Pair Corr
0.87	PHPIX	Pharmaceuticals Ultrasector	Pair Corr
0.87	PHPSX	Pharmaceuticals Ultrasector	Pair Corr
0.82	SVPSX	Small Cap Value	Pair Corr
0.81	SVPIX	Small Cap Value	Pair Corr
0.66	UMPSX	Ultramid Cap Profund	Pair Corr
0.65	UMPIX	Ultramid Cap Profund	Pair Corr
0.5	ULPSX	Ultrabull Profund	Pair Corr
0.49	ULPIX	Ultrabull Profund	Pair Corr
0.45	WCPIX	Mobile Telecommunicatio	Pair Corr
0.45	WCPSX	Mobile Telecommunicatio	Pair Corr
0.35	CYPSX	Consumer Services	Pair Corr
0.34	CYPIX	Consumer Services	Pair Corr
0.34	UOPIX	Ultra Nasdaq 100	Pair Corr
0.33	UNPSX	Ultrainternational	Pair Corr
0.32	UNPIX	Ultrainternational	Pair Corr

Related Correlations Analysis

	XPGZX	CREMX	RRSCX	CNREX	SRPIX	VRREX	MRESX
XPGZX		0.03	0.68	0.68	-0.84	0.83	0.87	XPGZX
CREMX	0.03		0.65	0.6	-0.31	0.41	0.32	CREMX
RRSCX	0.68	0.65		0.92	-0.91	0.94	0.91	RRSCX
CNREX	0.68	0.6	0.92		-0.85	0.92	0.87	CNREX
SRPIX	-0.84	-0.31	-0.91	-0.85		-0.98	-0.99	SRPIX
VRREX	0.83	0.41	0.94	0.92	-0.98		0.99	VRREX
MRESX	0.87	0.32	0.91	0.87	-0.99	0.99		MRESX
	XPGZX	CREMX	RRSCX	CNREX	SRPIX	VRREX	MRESX

Click cells to compare fundamentals

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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

MRESX	+ 0.99	VRREX
VRREX	+ 0.94	RRSCX
CNREX	+ 0.92	RRSCX
VRREX	+ 0.92	CNREX
MRESX	+ 0.91	RRSCX
MRESX	+ 0.87	XPGZX

High negative correlations

MRESX	- 0.99	SRPIX
VRREX	- 0.98	SRPIX
SRPIX	- 0.91	RRSCX
SRPIX	- 0.85	CNREX
SRPIX	- 0.84	XPGZX
SRPIX	- 0.31	CREMX

Risk-Adjusted Indicators

There is a big difference between Short Mutual Fund performing well and Short Oil 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 Short Oil'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
XPGZX	0.40	(0.03)	0.00	(0.14)	0.00	0.00	0.61	(0.99)	2.98
CREMX	0.04	0.02	0.00	1.56	0.00	0.00	0.08	0.00	1.43
RRSCX	0.84	0.04	0.02	0.11	1.24	(0.82)	1.63	(1.92)	6.85
CNREX	1.00	0.02	0.01	0.05	1.40	(0.97)	1.82	(2.37)	8.29
SRPIX	0.98	0.01	0.00	0.02	0.00	0.00	2.50	(1.98)	10.28
VRREX	1.00	0.01	0.00	0.05	1.56	(1.00)	1.84	(2.70)	9.29
MRESX	0.95	0.01	0.00	0.04	1.43	(0.99)	1.78	(2.51)	8.48

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