Oakmark Bond Correlations

OAYCX Fund  USD 8.80  0.03  0.34%   
The current 90-days correlation between Oakmark Bond and Oakmark International Fund is 0.49 (i.e., Very weak diversification). The correlation of Oakmark Bond 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.

Oakmark Bond Correlation With Market

Modest diversification

The correlation between Oakmark Bond and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oakmark Bond 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 Oakmark Bond. 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 main economic indicators.

Moving together with Oakmark Mutual Fund

  0.61OAZEX Oakmark InternationalPairCorr
  0.72OAZBX Oakmark Equity AndPairCorr
  0.72OAYBX Oakmark Equity AndPairCorr
  0.61OAYEX Oakmark InternationalPairCorr
  0.9OAKCX Harris AssociatesPairCorr
  0.73OAKBX Oakmark Equity AndPairCorr
  0.61OAKEX Oakmark InternationalPairCorr
  0.61OANEX Oakmark InternationalPairCorr
  1.0OANCX Oakmark BondPairCorr
  0.72OANBX Oakmark Equity AndPairCorr
  0.95MWTNX Metropolitan West TotalPairCorr
  0.96MWTSX Metropolitan West TotalPairCorr
  0.98PTTPX Pimco Total ReturnPairCorr
  0.98PTRRX Total ReturnPairCorr
  0.98PTRAX Total ReturnPairCorr
  0.98PTTRX Total ReturnPairCorr
  0.98FIWGX Strategic AdvisersPairCorr
  0.88DODIX Dodge IncomePairCorr
  0.96MWTIX Metropolitan West TotalPairCorr
  0.96MWTRX Metropolitan West TotalPairCorr

Related Correlations Analysis

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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   
OAZIXOAYIX
OAZGXOAYWX
OAZBXOAYMX
OAYLXOAYMX
OAZBXOAYLX
OAYCXOAZCX
  
High negative correlations   
OAZEXOAYLX

Risk-Adjusted Indicators

There is a big difference between Oakmark Mutual Fund performing well and Oakmark Bond 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 Oakmark Bond'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
OAYIX  0.77  0.00 (0.06) 0.10  1.06 
 1.59 
 4.60 
OAYMX  0.63  0.06  0.00  0.25  0.63 
 1.28 
 6.63 
OAYLX  0.68  0.12  0.07  0.36  0.71 
 1.43 
 8.36 
OAYWX  0.55  0.02 (0.05) 0.17  0.72 
 1.13 
 3.91 
OAZEX  0.70 (0.13) 0.00 (0.34) 0.00 
 1.55 
 7.02 
OAZCX  0.22 (0.01)(0.32)(0.26) 0.24 
 0.57 
 1.48 
OAZBX  0.40  0.03 (0.08) 0.20  0.46 
 0.88 
 4.10 
OAZIX  0.77  0.00 (0.06) 0.10  1.05 
 1.59 
 4.60 
OAZGX  0.61  0.00 (0.06) 0.10  0.87 
 1.33 
 4.25 
OAYCX  0.23 (0.02) 0.00 (0.18) 0.00 
 0.57 
 1.48