Olstein All Correlations

OFAFX Fund

USD 28.53 0.04 0.14%

The current 90-days correlation between Olstein All Cap and Columbia Global Technology is 0.27 (i.e., Modest diversification). The correlation of Olstein All 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.

Olstein All Correlation With Market

Almost no diversification

The correlation between Olstein All Cap and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Olstein All 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 Olstein All 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 price.

Moving together with Olstein Mutual Fund

1.0	OFALX	Olstein All Cap	Pair Corr
0.99	OFAVX	Olstein All Cap	Pair Corr
0.98	OFSCX	Olstein Strategic	Pair Corr
0.95	OFSAX	Olstein Strategic	Pair Corr
0.97	OFSFX	Olstein Strategic	Pair Corr
0.95	VMVAX	Vanguard Mid Cap	Pair Corr
0.89	JVMAX	John Hancock Disciplined	Pair Corr
0.89	JVMIX	John Hancock Disciplined	Pair Corr
0.95	VMVIX	Vanguard Mid Cap	Pair Corr
0.94	JMVZX	Jpmorgan Mid Cap	Pair Corr
0.94	JMVRX	Jpmorgan Mid Cap	Pair Corr
0.94	JMVQX	Jpmorgan Mid Cap	Pair Corr
0.94	JMVYX	Jpmorgan Mid Cap	Pair Corr
0.94	JMVPX	Jpmorgan Mid Cap	Pair Corr
0.97	MVCAX	Mfs Mid Cap	Pair Corr
0.92	DXQLX	Direxion Monthly Nasdaq	Pair Corr
0.71	RYVLX	Nasdaq 100 2x	Pair Corr
0.79	UOPIX	Ultra Nasdaq 100	Pair Corr
0.81	RYCCX	Nasdaq 100 2x	Pair Corr
0.81	BIPIX	Biotechnology Ultrasector	Pair Corr
0.74	BITEX	Brown Advisory Tax	Pair Corr
0.65	PLIDX	Pacific Funds E	Pair Corr
0.95	IVVIX	Ivy Small Cap	Pair Corr
0.68	VOHIX	Vanguard Ohio Long	Pair Corr
0.89	IHSAX	Hartford Small	Pair Corr
0.88	DLTRX	Delaware Limited Term	Pair Corr
0.86	WGAFX	Wealthbuilder Growth	Pair Corr
0.9	PHDAX	High Yield Fund	Pair Corr
0.96	GABPX	Goldman Sachs Equity	Pair Corr
0.87	TTIFX	Goldman Sachs Tactical	Pair Corr
0.74	NESIX	Needham Small Cap	Pair Corr
0.82	COLMX	Columbia College A	Pair Corr
0.9	SMVTX	Ridgeworth Ceredex Mid	Pair Corr
0.87	UUSTX	Ultra Short Term	Pair Corr

Moving against Olstein Mutual Fund

0.44	INPSX	Internet Ultrasector	Pair Corr
0.43	INPIX	Internet Ultrasector	Pair Corr

Related Correlations Analysis

	WFSTX	TOWTX	JNGTX	ROGSX	BSTSX	USTCX	CMTFX
WFSTX		0.78	0.81	0.43	0.67	0.94	0.79	WFSTX
TOWTX	0.78		0.87	0.71	0.8	0.87	0.87	TOWTX
JNGTX	0.81	0.87		0.54	0.77	0.9	0.79	JNGTX
ROGSX	0.43	0.71	0.54		0.88	0.49	0.87	ROGSX
BSTSX	0.67	0.8	0.77	0.88		0.72	0.93	BSTSX
USTCX	0.94	0.87	0.9	0.49	0.72		0.82	USTCX
CMTFX	0.79	0.87	0.79	0.87	0.93	0.82		CMTFX
	WFSTX	TOWTX	JNGTX	ROGSX	BSTSX	USTCX	CMTFX

Risk-Adjusted Indicators

There is a big difference between Olstein Mutual Fund performing well and Olstein All 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 Olstein All'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
WFSTX	1.19	0.24	0.11	(0.80)	1.09	(1.41)	1.69	(2.61)	21.74
TOWTX	0.73	(0.01)	(0.01)	0.06	0.81	(0.80)	1.49	(1.37)	4.54
JNGTX	1.19	0.28	0.12	(2.12)	1.23	(1.27)	2.15	(2.59)	19.25
ROGSX	0.89	(0.03)	(0.02)	0.04	1.43	(0.79)	1.59	(2.26)	6.02
BSTSX	1.15	0.00	0.00	0.08	1.78	(1.04)	2.13	(2.98)	9.70
USTCX	0.98	0.15	0.06	1.34	1.13	(0.98)	2.01	(2.05)	9.79
CMTFX	0.98	0.02	0.01	0.09	1.60	(0.85)	1.88	(2.59)	6.22

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