Optimum Fixed Correlations

OIFIX Fund

USD 8.30 0.01 0.12%

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

Good diversification

The correlation between Optimum Fixed Income and DJI is -0.13 (i.e., Good 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 various price indices.

Related Correlations Analysis

	PTY	NAD	FSTFX	JPC	NVG	ACP-PA	CDSIX	EXG	JDFNX	JADFX
PTY		-0.7	-0.38	-0.41	-0.66	0.9	-0.59	-0.54	-0.43	-0.31	PTY
NAD	-0.7		0.71	0.58	0.93	-0.72	0.82	0.54	0.53	0.37	NAD
FSTFX	-0.38	0.71		0.57	0.69	-0.53	0.91	0.57	0.48	0.34	FSTFX
JPC	-0.41	0.58	0.57		0.48	-0.45	0.62	0.75	0.4	0.29	JPC
NVG	-0.66	0.93	0.69	0.48		-0.7	0.83	0.46	0.57	0.42	NVG
ACP-PA	0.9	-0.72	-0.53	-0.45	-0.7		-0.67	-0.63	-0.44	-0.32	ACP-PA
CDSIX	-0.59	0.82	0.91	0.62	0.83	-0.67		0.59	0.69	0.55	CDSIX
EXG	-0.54	0.54	0.57	0.75	0.46	-0.63	0.59		0.33	0.22	EXG
JDFNX	-0.43	0.53	0.48	0.4	0.57	-0.44	0.69	0.33		0.94	JDFNX
JADFX	-0.31	0.37	0.34	0.29	0.42	-0.32	0.55	0.22	0.94		JADFX
	PTY	NAD	FSTFX	JPC	NVG	ACP-PA	CDSIX	EXG	JDFNX	JADFX

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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

JADFX	+ 0.94	JDFNX
NVG	+ 0.93	NAD
CDSIX	+ 0.91	FSTFX
ACP-PA	+ 0.9	PTY
CDSIX	+ 0.83	NVG
CDSIX	+ 0.82	NAD

High negative correlations

ACP-PA	- 0.72	NAD
ACP-PA	- 0.7	NVG
NAD	- 0.7	PTY
CDSIX	- 0.67	ACP-PA
NVG	- 0.66	PTY
EXG	- 0.63	ACP-PA

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PTY	0.56	(0.14)	0.00	(0.94)	0.00	0.00	1.10	(1.39)	5.26
NAD	0.40	0.07	0.05	(5.84)	0.27	(0.52)	1.00	(0.76)	2.29
FSTFX	0.03	0.00	(0.51)	1.00	0.00	(0.12)	0.09	(0.09)	0.28
JPC	0.44	0.01	(0.03)	0.08	0.45	(0.49)	0.75	(0.86)	2.72
NVG	0.33	0.07	0.05	(1.38)	0.19	(0.41)	0.74	(0.48)	2.41
ACP-PA	0.46	(0.11)	0.00	(0.45)	0.00	0.00	1.14	(0.95)	3.45
CDSIX	0.07	0.00	(0.55)	0.63	0.00	(0.11)	0.13	(0.06)	0.50
EXG	0.62	0.07	0.07	0.15	0.63	(0.71)	1.21	(1.30)	3.13
JDFNX	0.15	0.00	(0.25)	(0.06)	0.12	(0.21)	0.32	(0.32)	0.85
JADFX	0.15	0.00	(0.24)	(0.09)	0.14	(0.19)	0.32	(0.32)	0.85

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