Optimum Fixed Correlations

Mutual Funds . USA . 
Fund . Optimum Fixed Income
OCFIX Fund  USD 8.78  0.04  0.46%   
The current 90-days correlation between Optimum Fixed Income and Absolute Convertible Arbitrage is 0.07 (i.e., Significant 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

Significant diversification

The correlation between Optimum Fixed Income and DJI is 0.01 (i.e., Significant 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

  0.85DMO Western Asset MortgagePairCorr
  0.95DLTZX Delaware Limited TermPairCorr
  0.96DLTRX Delaware Limited TermPairCorr
  0.97OIFIX Optimum Fixed IncomePairCorr
  0.61OIIEX Optimum InternationalPairCorr
  0.99DPCFX Delaware DiversifiedPairCorr
  0.92DPDFX Delaware DiversifiedPairCorr
  0.95DPFFX Delaware DiversifiedPairCorr

Moving against Optimum Mutual Fund

  0.81OCSGX Optimum Small MidPairCorr
  0.78OASGX Optimum Small MidPairCorr
  0.78WSGAX Ivy Small CapPairCorr
  0.74OCLGX Optimum Large CapPairCorr
  0.71OASVX Optimum Small MidPairCorr
  0.68OCSVX Optimum Small MidPairCorr
  0.65WSTAX Ivy Science AndPairCorr
  0.57WCEAX Ivy E EquityPairCorr
  0.78OISGX Optimum Small MidPairCorr
  0.75OILGX Optimum Large CapPairCorr
  0.6FICHX First Investors SelectPairCorr
  0.6FICGX First Investors SelectPairCorr
  0.56WHIAX Ivy High IncomePairCorr
  0.41IBNAX Ivy BalancedPairCorr
  0.37OISVX Optimum Small MidPairCorr

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   
VAADX
+ 0.99
PCNTX
XAVKX
+ 0.94
PCNTX
XAVKX
+ 0.91
VAADX
LCFYX
+ 0.89
PCNTX
XAVKX
+ 0.89
LCFYX
LCFYX
+ 0.87
VAADX
  
High negative correlations   
PCNTX
- 0.61
ARBOX
VAADX
- 0.6
ARBOX
XAVKX
- 0.53
ARBOX
LCFYX
- 0.37
ARBOX

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.

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