Optimum Small-mid Correlations

OISVX Fund

USD 16.93 0.27 1.62%

The current 90-days correlation between Optimum Small Mid and Ultra Short Term Fixed is -0.04 (i.e., Good diversification). The correlation of Optimum Small-mid 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 Small-mid Correlation With Market

Very poor diversification

The correlation between Optimum Small Mid Cap and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Optimum Small Mid 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 Optimum Small Mid 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 real.

Moving together with Optimum Mutual Fund

0.92	OASGX	Optimum Small Mid	Pair Corr
1.0	OASVX	Optimum Small Mid	Pair Corr
0.66	WASAX	Ivy Asset Strategy	Pair Corr
0.87	WSGAX	Ivy Small Cap	Pair Corr
0.86	OCLVX	Optimum Large Cap	Pair Corr
0.93	OCLGX	Optimum Large Cap	Pair Corr
0.96	OCSGX	Optimum Small Mid	Pair Corr
1.0	OCSVX	Optimum Small Mid	Pair Corr
0.82	WSTAX	Ivy Science And	Pair Corr
0.74	DMO	Western Asset Mortgage	Pair Corr
0.95	WCEAX	Ivy E Equity	Pair Corr
0.91	OILGX	Optimum Large Cap	Pair Corr
0.94	OILVX	Optimum Large Cap	Pair Corr
0.97	OISGX	Optimum Small Mid	Pair Corr

Moving against Optimum Mutual Fund

0.7	OCFIX	Optimum Fixed Income	Pair Corr
0.67	DLHCX	Delaware Healthcare	Pair Corr
0.66	DLHIX	Delaware Healthcare	Pair Corr
0.38	FTNYX	Delaware Tax Free	Pair Corr
0.37	FTORX	First Investors Tax	Pair Corr
0.36	FTOTX	First Investors Tax	Pair Corr
0.35	CXHYX	Delaware National High	Pair Corr
0.31	IMAAX	Ivy Apollo Multi	Pair Corr
0.7	DPCFX	Delaware Diversified	Pair Corr
0.68	OIFIX	Optimum Fixed Income	Pair Corr
0.67	DLHAX	Delaware Healthcare	Pair Corr
0.67	DLRHX	Delaware Healthcare	Pair Corr
0.67	DPFFX	Delaware Diversified	Pair Corr
0.44	DMTFX	Delaware Tax Free	Pair Corr
0.35	DMUSX	Delaware Tax Free	Pair Corr
0.34	VCTFX	Delaware Tax Free	Pair Corr

Related Correlations Analysis

	TSDUX	MFIRX	LSHEX	BXDCX	PBBIX	RGHYX	USCBX	BBINX
TSDUX		0.13	0.94	0.64	0.74	0.73	-0.25	-0.4	TSDUX
MFIRX	0.13		0.01	0.76	0.45	0.71	0.59	0.65	MFIRX
LSHEX	0.94	0.01		0.46	0.66	0.64	-0.24	-0.46	LSHEX
BXDCX	0.64	0.76	0.46		0.85	0.89	0.31	0.3	BXDCX
PBBIX	0.74	0.45	0.66	0.85		0.8	0.24	0.14	PBBIX
RGHYX	0.73	0.71	0.64	0.89	0.8		0.24	0.15	RGHYX
USCBX	-0.25	0.59	-0.24	0.31	0.24	0.24		0.94	USCBX
BBINX	-0.4	0.65	-0.46	0.3	0.14	0.15	0.94		BBINX
	TSDUX	MFIRX	LSHEX	BXDCX	PBBIX	RGHYX	USCBX	BBINX

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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

LSHEX	+ 0.94	TSDUX
BBINX	+ 0.94	USCBX
RGHYX	+ 0.89	BXDCX
PBBIX	+ 0.85	BXDCX
RGHYX	+ 0.8	PBBIX
BXDCX	+ 0.76	MFIRX

High negative correlations

BBINX	- 0.46	LSHEX
BBINX	- 0.4	TSDUX
USCBX	- 0.25	TSDUX
USCBX	- 0.24	LSHEX

Risk-Adjusted Indicators

There is a big difference between Optimum Mutual Fund performing well and Optimum Small-mid 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 Small-mid'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
TSDUX	0.04	0.00	0.00	0.00	0.00	0.00	0.10	0.00	0.10
MFIRX	0.09	0.00	(0.49)	0.21	0.00	(0.23)	0.19	(0.19)	0.76
LSHEX	1.46	0.63	0.31	0.66	1.36	(1.74)	3.44	(2.10)	7.85
BXDCX	0.09	0.00	(0.82)	0.00	0.00	(0.16)	0.22	(0.11)	0.65
PBBIX	0.12	0.02	(0.63)	(0.40)	0.00	(0.19)	0.29	(0.20)	0.98
RGHYX	0.09	0.01	(0.64)	0.29	0.00	(0.14)	0.20	(0.20)	0.51
USCBX	0.15	0.01	(0.27)	(0.04)	0.23	(0.23)	0.39	(0.29)	1.74
BBINX	0.11	0.00	(0.43)	0.06	0.15	(0.19)	0.29	(0.29)	1.07

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