Oil Equipment Correlations
| OEPIX Fund | USD 88.29 1.17 1.34% |
The current 90-days correlation between Oil Equipment Services and Blackrock Exchange Portfolio is 0.26 (i.e., Modest diversification). The correlation of Oil Equipment 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.
Oil Equipment Correlation With Market
Modest diversification
The correlation between Oil Equipment Services and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oil Equipment Services and DJI in the same portfolio, assuming nothing else is changed.
Oil |
Moving together with Oil Mutual Fund
Moving against Oil Mutual Fund
| 0.88 | SNPIX | Short Oil Gas | PairCorr |
| 0.47 | SRPIX | Short Real Estate | PairCorr |
| 0.34 | INPIX | Internet Ultrasector | PairCorr |
| 0.32 | UOPIX | Ultra Nasdaq 100 | PairCorr |
| 0.32 | UOPSX | Ultranasdaq 100 Profund Steady Growth | PairCorr |
| 0.31 | LGPSX | Profunds Large Cap | PairCorr |
| 0.47 | DAAIX | Dunham Appreciation | PairCorr |
| 0.34 | DXQLX | Direxion Monthly Nasdaq Steady Growth | PairCorr |
| 0.34 | INPSX | Internet Ultrasector | PairCorr |
| 0.32 | VSPGX | Vanguard Sp 500 | PairCorr |
Related Correlations Analysis
| 0.0 | 0.0 | 0.01 | 0.0 | 0.0 | 0.0 | STSEX | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | HUCXX | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | JRSXX | ||
| 0.01 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | SPAXX | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | STPXX | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | IVMXX | ||
| 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | PFCXX | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Oil Mutual Fund performing well and Oil Equipment 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 Oil Equipment'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| STSEX | 0.47 | 0.00 | 0.00 | 0.00 | 0.79 | 0.87 | 3.82 | |||
| HUCXX | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| JRSXX | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| SPAXX | 0.03 | 0.01 | 0.00 | (0.95) | 0.00 | 0.00 | 1.01 | |||
| STPXX | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| IVMXX | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| PFCXX | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |