Optimum International Correlations

OCIEX Fund

USD 13.22 0.10 0.75%

The current 90-days correlation between Optimum International and Gmo Resources is -0.04 (i.e., Good diversification). The correlation of Optimum International 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 International Correlation With Market

Weak diversification

The correlation between Optimum International Fund and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Optimum International Fund 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 International Fund. 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 income.

Moving together with Optimum Mutual Fund

0.67	OCFIX	Optimum Fixed Income	Pair Corr
0.61	DLTZX	Delaware Limited Term	Pair Corr
0.71	OIFIX	Optimum Fixed Income	Pair Corr
1.0	OIIEX	Optimum International	Pair Corr
0.61	DPCFX	Delaware Diversified	Pair Corr

Moving against Optimum Mutual Fund

0.47	VCTFX	Delaware Tax Free	Pair Corr
0.41	DPDFX	Delaware Diversified	Pair Corr

Related Correlations Analysis

	GMOWX	ALTEX	IGNAX	HNRGX	SMAPX	XEMOX
GMOWX		0.55	0.86	0.38	0.09	0.12	GMOWX
ALTEX	0.55		0.5	0.01	-0.03	0.01	ALTEX
IGNAX	0.86	0.5		0.62	0.43	0.49	IGNAX
HNRGX	0.38	0.01	0.62		0.84	0.83	HNRGX
SMAPX	0.09	-0.03	0.43	0.84		0.98	SMAPX
XEMOX	0.12	0.01	0.49	0.83	0.98		XEMOX
	GMOWX	ALTEX	IGNAX	HNRGX	SMAPX	XEMOX

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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

XEMOX	+ 0.98	SMAPX
IGNAX	+ 0.86	GMOWX
SMAPX	+ 0.84	HNRGX
XEMOX	+ 0.83	HNRGX
HNRGX	+ 0.62	IGNAX
ALTEX	+ 0.55	GMOWX

High negative correlations

SMAPX

- 0.03

ALTEX

Risk-Adjusted Indicators

There is a big difference between Optimum Mutual Fund performing well and Optimum International 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 International'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
GMOWX	1.00	(0.12)	0.00	(0.21)	0.00	0.00	1.81	(2.30)	6.75
ALTEX	1.28	(0.07)	0.00	(0.05)	0.00	0.00	2.04	(3.38)	9.94
IGNAX	0.84	(0.03)	(0.08)	0.00	1.09	(0.88)	1.47	(1.53)	5.36
HNRGX	0.91	0.09	0.02	0.37	1.14	(0.91)	1.80	(1.85)	7.42
SMAPX	1.02	0.15	0.05	0.68	1.49	(1.02)	2.10	(2.46)	8.03
XEMOX	1.08	0.19	0.07	0.99	1.42	(1.12)	2.34	(3.03)	7.64

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