Optimum Small Correlations

Mutual Funds . USA . 
Fund . Optimum Small Mid Cap
OASVX Fund  USD 13.75  0.12  0.88%   
The current 90-days correlation between Optimum Small Mid and Icon Financial Fund is 0.07 (i.e., Significant 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

Almost no diversification

The correlation between Optimum Small Mid Cap and DJI is 0.91 (i.e., Almost no 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 small area income & poverty estimates.

Moving together with Optimum Mutual Fund

  0.74OASGX Optimum Small MidPairCorr
  0.63OCFIX Optimum Fixed IncomePairCorr
  0.9OCIEX Optimum InternationalPairCorr
  0.74OCLVX Optimum Large CapPairCorr
  0.68OCLGX Optimum Large Cap Potential GrowthPairCorr
  0.76OCSGX Optimum Small MidPairCorr
  0.72OCSVX Optimum Small MidPairCorr
  0.86DLHIX Delaware HealthcarePairCorr
  0.86DLRHX Delaware HealthcarePairCorr
  0.84DLTZX Delaware Limited TermPairCorr
  0.88DLTRX Delaware Limited TermPairCorr
  0.79DMHIX Delaware Minnesota HighPairCorr
  0.78DMNIX Delaware Tax FreePairCorr
  0.9OIIEX Optimum InternationalPairCorr
  0.74OILVX Optimum Large CapPairCorr
  0.66DPFFX Delaware DiversifiedPairCorr
  0.66OISGX Optimum Small MidPairCorr
  0.62OISVX Optimum Small MidPairCorr
  0.85DPRSX Delaware ReitPairCorr
  0.85DPRRX Delaware ReitPairCorr
  0.63DPRFX Delaware DiversifiedPairCorr
  0.85DPRDX Real EstatePairCorr
  0.67DPZRX Delaware DiversifiedPairCorr
  0.67FICHX First Investors SelectPairCorr
  0.91FICGX First Investors SelectPairCorr
  0.96FIZRX Delaware OpportunityPairCorr
  0.87DTINX Delaware Limited TermPairCorr
  0.65DTIDX Delaware Tax FreePairCorr
  0.96DCCIX Delaware Small CapPairCorr
  0.96DCCRX Delaware Small CapPairCorr
  0.71DCOIX Delaware Tax FreePairCorr
  0.91DUGRX Delaware Strategic IncomePairCorr

Moving against Optimum Mutual Fund

  0.7DMO Western Asset MortgagePairCorr

Related Correlations Analysis


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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