Optimum Fixed Correlations

OAFIX Fund

USD 8.43 0.03 0.36%

The current 90-days correlation between Optimum Fixed Income and Pimco Income Fund is 0.8 (i.e., Very poor diversification). The correlation of Optimum Fixed 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 Fixed Correlation With Market

Good diversification

The correlation between Optimum Fixed Income and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Optimum Fixed Income 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 Fixed Income. 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 Optimum Mutual Fund

0.7	IMAAX	Ivy Apollo Multi	Pair Corr
1.0	OCFIX	Optimum Fixed Income	Pair Corr
0.72	CXHYX	Delaware National High	Pair Corr
0.77	FTNYX	Delaware Tax Free	Pair Corr
0.76	FTORX	First Investors Tax	Pair Corr
0.76	FTOTX	First Investors Tax	Pair Corr
0.71	DLHIX	Delaware Healthcare	Pair Corr
0.72	DLHCX	Delaware Healthcare	Pair Corr
0.71	DLHAX	Delaware Healthcare	Pair Corr
0.72	DLRHX	Delaware Healthcare	Pair Corr
0.7	DMOCX	Delaware Tax Free	Pair Corr
0.61	DMNIX	Delaware Tax Free	Pair Corr
0.81	DMTFX	Delaware Tax Free	Pair Corr
0.74	DMUSX	Delaware Tax Free	Pair Corr
0.64	VAZIX	Delaware Tax Free	Pair Corr
1.0	OIFIX	Optimum Fixed Income	Pair Corr
0.74	VCTFX	Delaware Tax Free	Pair Corr
1.0	DPCFX	Delaware Diversified	Pair Corr
0.99	DPDFX	Delaware Diversified	Pair Corr
0.99	DPFFX	Delaware Diversified	Pair Corr

Moving against Optimum Mutual Fund

0.73	OCLGX	Optimum Large Cap	Pair Corr
0.72	DMO	Western Asset Mortgage	Pair Corr
0.72	WCEAX	Ivy E Equity	Pair Corr
0.68	OASVX	Optimum Small Mid	Pair Corr
0.68	OCSVX	Optimum Small Mid	Pair Corr
0.6	OCLVX	Optimum Large Cap	Pair Corr
0.59	WSTAX	Ivy Science And	Pair Corr
0.57	OASGX	Optimum Small Mid	Pair Corr
0.57	OCSGX	Optimum Small Mid	Pair Corr
0.45	WSGAX	Ivy Small Cap	Pair Corr
0.36	WASAX	Ivy Asset Strategy	Pair Corr
0.74	OILGX	Optimum Large Cap	Pair Corr
0.74	FGIPX	First Investors Growth	Pair Corr
0.74	FGINX	First Investors Growth	Pair Corr
0.68	OISVX	Optimum Small Mid	Pair Corr
0.62	OILVX	Optimum Large Cap	Pair Corr
0.58	OISGX	Optimum Small Mid	Pair Corr

Related Correlations Analysis

	PONAX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF	VIASP	AAEVX
PONAX		0.39	0.0	-0.07	0.02	0.23	0.65	0.33	-0.46	-0.31	PONAX
444859BR2	0.39		0.0	0.22	-0.53	-0.54	-0.03	0.41	-0.41	-0.69	444859BR2
AQUI	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	AQUI
BRRAY	-0.07	0.22	0.0		-0.45	-0.35	-0.4	-0.04	0.1	-0.32	BRRAY
MSTSX	0.02	-0.53	0.0	-0.45		0.67	0.34	-0.02	-0.08	0.75	MSTSX
LBHIX	0.23	-0.54	0.0	-0.35	0.67		0.51	-0.29	0.22	0.68	LBHIX
ABHYX	0.65	-0.03	0.0	-0.4	0.34	0.51		-0.05	-0.17	0.07	ABHYX
SCAXF	0.33	0.41	0.0	-0.04	-0.02	-0.29	-0.05		-0.8	-0.43	SCAXF
VIASP	-0.46	-0.41	0.0	0.1	-0.08	0.22	-0.17	-0.8		0.41	VIASP
AAEVX	-0.31	-0.69	0.0	-0.32	0.75	0.68	0.07	-0.43	0.41		AAEVX
	PONAX	444859BR2	AQUI	BRRAY	MSTSX	LBHIX	ABHYX	SCAXF	VIASP	AAEVX

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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

AAEVX	+ 0.75	MSTSX
AAEVX	+ 0.68	LBHIX
LBHIX	+ 0.67	MSTSX
ABHYX	+ 0.65	PONAX
ABHYX	+ 0.51	LBHIX
SCAXF	+ 0.41	444859BR2

High negative correlations

VIASP	- 0.8	SCAXF
AAEVX	- 0.69	444859BR2
LBHIX	- 0.54	444859BR2
MSTSX	- 0.53	444859BR2
VIASP	- 0.46	PONAX
MSTSX	- 0.45	BRRAY

Risk-Adjusted Indicators

There is a big difference between Optimum Mutual Fund performing well and Optimum Fixed 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 Fixed'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
PONAX	0.15	(0.01)	(0.57)	(0.16)	0.16	(0.18)	0.28	(0.28)	1.04
444859BR2	1.35	(0.09)	0.00	(0.14)	0.00	0.00	5.93	(5.79)	16.62
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BRRAY	1.27	(0.13)	0.00	0.01	0.00	0.00	0.00	(2.98)	34.02
MSTSX	0.49	(0.04)	(0.13)	0.06	0.52	(0.61)	1.21	(1.02)	2.80
LBHIX	0.11	0.01	(0.42)	0.38	0.00	(0.29)	0.24	(0.24)	0.96
ABHYX	0.17	0.00	(0.24)	0.19	0.25	(0.24)	0.34	(0.33)	1.91
SCAXF	0.70	(0.41)	0.00	(0.98)	0.00	0.00	0.00	0.00	23.47
VIASP	0.74	0.07	(0.04)	(2.04)	1.13	(0.80)	2.28	(1.20)	7.18
AAEVX	0.48	0.05	(0.10)	(2.13)	0.54	(0.57)	0.93	(0.77)	2.76

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