Oklahoma Municipal Correlations

OKMIX Fund

USD 10.50 0.01 0.1%

The current 90-days correlation between Oklahoma Municipal and Tax Free Conservative Income is 0.15 (i.e., Average diversification). The correlation of Oklahoma Municipal 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.

Oklahoma Municipal Correlation With Market

Good diversification

The correlation between Oklahoma Municipal Fund and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oklahoma Municipal Fund 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 Oklahoma Municipal Fund. 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 gross domestic product.

Moving together with Oklahoma Mutual Fund

0.77	HICOX	Colorado Bondshares	Pair Corr
0.79	KYTFX	Kentucky Tax Free	Pair Corr
0.95	UVABX	Virginia Bond	Pair Corr
0.99	HULYX	Hawaiian Tax Free	Pair Corr
0.9	HULFX	Hawaiian Tax Free	Pair Corr
0.87	ORTYX	Aquila Tax Free	Pair Corr
0.99	UVAIX	Usaa Virginia Bond	Pair Corr
0.99	USVAX	Virginia Bond	Pair Corr
0.9	HULAX	Hawaiian Tax Free	Pair Corr
0.69	RYCCX	Nasdaq 100 2x	Pair Corr
0.8	PG	Procter Gamble	Pair Corr
0.65	CAT	Caterpillar Earnings Call This Week	Pair Corr
0.76	HD	Home Depot	Pair Corr
0.85	VZ	Verizon Communications	Pair Corr

Moving against Oklahoma Mutual Fund

0.4	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.37	BA	Boeing	Pair Corr

Related Correlations Analysis

	TFCAX	PGBAX	BICPX	VYRPX	MBLAX	FHCOX	FPTPX
TFCAX		0.32	0.13	0.35	-0.05	0.95	-0.26	TFCAX
PGBAX	0.32		0.9	0.94	0.79	0.2	0.72	PGBAX
BICPX	0.13	0.9		0.89	0.77	0.0	0.79	BICPX
VYRPX	0.35	0.94	0.89		0.84	0.22	0.77	VYRPX
MBLAX	-0.05	0.79	0.77	0.84		-0.14	0.89	MBLAX
FHCOX	0.95	0.2	0.0	0.22	-0.14		-0.38	FHCOX
FPTPX	-0.26	0.72	0.79	0.77	0.89	-0.38		FPTPX
	TFCAX	PGBAX	BICPX	VYRPX	MBLAX	FHCOX	FPTPX

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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

FHCOX	+ 0.95	TFCAX
VYRPX	+ 0.94	PGBAX
BICPX	+ 0.9	PGBAX
VYRPX	+ 0.89	BICPX
FPTPX	+ 0.89	MBLAX
MBLAX	+ 0.84	VYRPX

High negative correlations

FPTPX	- 0.38	FHCOX
FPTPX	- 0.26	TFCAX
FHCOX	- 0.14	MBLAX
MBLAX	- 0.05	TFCAX
FHCOX	- 0.0	BICPX

Risk-Adjusted Indicators

There is a big difference between Oklahoma Mutual Fund performing well and Oklahoma Municipal 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 Oklahoma Municipal'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
TFCAX	0.02	0.00	0.00	(0.10)	0.00	0.00	0.10	0.00	0.40
PGBAX	0.15	(0.01)	(0.42)	(0.04)	0.14	(0.20)	0.34	(0.34)	1.01
BICPX	0.23	0.00	(0.24)	0.22	0.27	(0.30)	0.54	(0.45)	1.90
VYRPX	0.18	0.00	(0.22)	0.10	0.18	(0.28)	0.48	(0.39)	1.74
MBLAX	0.23	(0.01)	(0.25)	0.01	0.29	(0.28)	0.46	(0.31)	1.79
FHCOX	0.04	0.01	0.00	4.94	0.00	0.00	0.10	0.00	0.61
FPTPX	0.30	(0.03)	(0.17)	(0.02)	0.49	(0.31)	0.53	(0.67)	2.16

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