Olstein All Correlations

OFAVX Fund

USD 28.05 0.08 0.28%

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 manufacturing.

Moving together with Olstein Mutual Fund

0.99	OFAFX	Olstein All Cap	Pair Corr
0.98	OFALX	Olstein All Cap	Pair Corr
0.96	OFSCX	Olstein Strategic	Pair Corr
0.97	OFSAX	Olstein Strategic	Pair Corr
0.96	OFSFX	Olstein Strategic	Pair Corr
0.93	VMVAX	Vanguard Mid Cap	Pair Corr
0.9	JVMAX	John Hancock Disciplined	Pair Corr
0.91	JVMIX	John Hancock Disciplined	Pair Corr
0.93	VMVIX	Vanguard Mid Cap	Pair Corr
0.95	JMVZX	Jpmorgan Mid Cap	Pair Corr
0.96	JMVRX	Jpmorgan Mid Cap	Pair Corr
0.96	JMVQX	Jpmorgan Mid Cap	Pair Corr
0.96	JMVYX	Jpmorgan Mid Cap	Pair Corr
0.96	JMVPX	Jpmorgan Mid Cap	Pair Corr
0.99	MVCAX	Mfs Mid Cap	Pair Corr
0.78	SMPSX	Semiconductor Ultrasector	Pair Corr
0.72	SMPIX	Semiconductor Ultrasector	Pair Corr
0.89	RSNYX	Victory Global Natural	Pair Corr
0.89	RGNCX	Victory Global Natural	Pair Corr
0.9	RSNRX	Victory Global Natural	Pair Corr
0.88	PMPIX	Precious Metals Ultr Steady Growth	Pair Corr
0.7	FELIX	Fidelity Advisor Sem	Pair Corr
0.7	FELAX	Fidelity Advisor Sem	Pair Corr
0.72	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.72	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.88	SGMAX	Siit Global Managed	Pair Corr
0.87	GTSGX	Madison Mid Cap	Pair Corr
0.86	RTDTX	Select Equity	Pair Corr
0.89	EEICX	Eaton Vance Emerging	Pair Corr
0.92	DDLDX	Doubleline Low Duration	Pair Corr
0.86	SWORX	Schwab Target 2055	Pair Corr
0.76	RTECX	Tax Exempt Bond	Pair Corr
0.9	LICYX	Lord Abbett International	Pair Corr
0.69	DIEMX	Driehaus Emerging Markets	Pair Corr
0.86	TPDCX	Timothy Plan Defensive	Pair Corr
0.84	ADANX	Aqr Diversified Arbitrage	Pair Corr
0.94	GTLOX	Large Cap E	Pair Corr
0.89	VGIAX	Vanguard Growth And	Pair Corr
0.95	DHPAX	Diamond Hill Mid	Pair Corr

Related Correlations Analysis

	OFAFX	OFALX	OFAVX	OFSCX	OFSAX	OFSFX	MNDVUX	NWWAX	SMGASX
OFAFX		1.0	0.99	0.98	0.96	0.97	0.9	0.0	0.0	OFAFX
OFALX	1.0		0.98	0.97	0.95	0.96	0.9	0.0	0.0	OFALX
OFAVX	0.99	0.98		0.96	0.97	0.96	0.9	0.0	0.0	OFAVX
OFSCX	0.98	0.97	0.96		0.97	1.0	0.85	0.0	0.0	OFSCX
OFSAX	0.96	0.95	0.97	0.97		0.97	0.85	0.0	0.0	OFSAX
OFSFX	0.97	0.96	0.96	1.0	0.97		0.85	0.0	0.0	OFSFX
MNDVUX	0.9	0.9	0.9	0.85	0.85	0.85		0.0	0.0	MNDVUX
NWWAX	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	NWWAX
SMGASX	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		SMGASX
	OFAFX	OFALX	OFAVX	OFSCX	OFSAX	OFSFX	MNDVUX	NWWAX	SMGASX

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

OFALX	+ 1.0	OFAFX
OFSFX	+ 1.0	OFSCX
OFAVX	+ 0.99	OFAFX
OFSCX	+ 0.98	OFAFX
OFAVX	+ 0.98	OFALX
OFSFX	+ 0.97	OFAFX

High negative correlations

SMGASX	- 0.0	NWWAX
SMGASX	- 0.0	MNDVUX
NWWAX	- 0.0	MNDVUX
SMGASX	- 0.0	OFSFX
NWWAX	- 0.0	OFSFX
SMGASX	- 0.0	OFSAX

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
OFAFX	0.71	0.11	0.13	0.20	0.52	(0.85)	1.66	(1.13)	6.72
OFALX	0.77	0.16	0.18	0.27	0.49	(0.95)	1.66	(1.19)	9.96
OFAVX	0.71	0.17	0.15	1.15	0.53	(0.85)	1.69	(1.18)	6.82
OFSCX	0.95	0.02	0.03	0.08	1.02	(1.08)	2.57	(2.05)	6.30
OFSAX	0.94	0.10	0.05	0.34	0.99	(1.04)	2.58	(2.09)	6.39
OFSFX	0.94	0.01	0.02	0.07	1.02	(1.07)	2.57	(2.05)	6.41
MNDVUX	0.53	0.10	0.06	(85.20)	0.47	(0.67)	1.38	(0.87)	4.98
NWWAX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SMGASX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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