Optimum Fixed Correlations

OAFIX Fund

USD 8.33 0.02 0.24%

The current 90-days correlation between Optimum Fixed Income and T Rowe Price is 0.24 (i.e., Modest 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

Average diversification

The correlation between Optimum Fixed Income and DJI is 0.19 (i.e., Average 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

0.95	OCFIX	Optimum Fixed Income	Pair Corr
0.66	DMHIX	Delaware Minnesota High	Pair Corr
0.66	DMNIX	Delaware Tax Free	Pair Corr
0.78	DPFFX	Delaware Diversified	Pair Corr
0.79	DPRFX	Delaware Diversified	Pair Corr
0.63	DPZRX	Delaware Diversified	Pair Corr

Related Correlations Analysis

	PATFX	TIMTX	BBINX	PRVBX	PRINX	FCSCX
PATFX		0.87	0.9	-0.07	0.99	0.45	PATFX
TIMTX	0.87		0.99	0.22	0.86	0.81	TIMTX
BBINX	0.9	0.99		0.18	0.89	0.77	BBINX
PRVBX	-0.07	0.22	0.18		-0.06	0.39	PRVBX
PRINX	0.99	0.86	0.89	-0.06		0.44	PRINX
FCSCX	0.45	0.81	0.77	0.39	0.44		FCSCX
	PATFX	TIMTX	BBINX	PRVBX	PRINX	FCSCX

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

PRINX	+ 0.99	PATFX
BBINX	+ 0.99	TIMTX
BBINX	+ 0.9	PATFX
PRINX	+ 0.89	BBINX
TIMTX	+ 0.87	PATFX
PRINX	+ 0.86	TIMTX

High negative correlations

PRVBX	- 0.07	PATFX
PRINX	- 0.06	PRVBX

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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PATFX	0.09	0.01	(0.32)	(0.79)	(0.12)	0.18	(0.18)	0.72
TIMTX	0.07	0.02	(0.28)	(1.53)	(0.12)	0.19	(0.09)	0.56
BBINX	0.05	0.01	(0.40)	0.93	(0.12)	0.10	(0.10)	0.48
PRVBX	0.07	0.00	(0.55)	(0.01)	(0.07)	0.14	(0.14)	0.46
PRINX	0.07	0.01	(0.30)	(1.28)	(0.13)	0.18	(0.09)	0.71
FCSCX	0.04	0.00	0.00	0.26	0.00	0.13	(0.13)	0.53

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