Oak Ridge Correlations

ORIYX Fund

USD 12.40 0.07 0.57%

The current 90-days correlation between Oak Ridge Small and Morningstar Aggressive Growth is 0.55 (i.e., Very weak diversification). The correlation of Oak Ridge 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.

Oak Ridge Correlation With Market

Poor diversification

The correlation between Oak Ridge Small and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oak Ridge Small 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 Oak Ridge Small. 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 producer price index.

Moving together with Oak Mutual Fund

0.8	ADVGX	Advisory Research All	Pair Corr
0.61	PORYX	Oak Ridge Multi	Pair Corr
0.72	ORDNX	Oak Ridge Dividend	Pair Corr
0.88	ORIGX	Oak Ridge Small	Pair Corr
0.76	ORSAX	Oak Ridge Dynamic	Pair Corr
0.96	ORSIX	Oak Ridge Dynamic	Pair Corr
0.8	VSMAX	Vanguard Small Cap	Pair Corr
0.8	VSCIX	Vanguard Small Cap	Pair Corr
0.81	VSCPX	Vanguard Small Cap	Pair Corr
0.81	NAESX	Vanguard Small Cap	Pair Corr
0.78	FSSNX	Fidelity Small Cap	Pair Corr
0.78	DFSTX	Us Small Cap	Pair Corr
0.78	FTHSX	Fuller Thaler Behavioral	Pair Corr
0.78	FTHNX	Fuller Thaler Behavioral	Pair Corr
0.69	PASVX	T Rowe Price	Pair Corr
0.69	PRVIX	T Rowe Price	Pair Corr
0.61	CIF	Mfs Intermediate High	Pair Corr
0.86	CDOAX	Columbia Dividend	Pair Corr
0.67	TILVX	Tiaa Cref Large	Pair Corr
0.65	APHGX	Artisan Global Value	Pair Corr
0.79	GSESX	Goldman Sachs Equity	Pair Corr
0.74	OASVX	Optimum Small Mid	Pair Corr

Moving against Oak Mutual Fund

0.47	NSIVX	North Square Investments	Pair Corr
0.62	XNBHX	Neuberger Berman Int	Pair Corr
0.55	XDSMX	Dreyfus Strategic	Pair Corr
0.49	XNXJX	Nuveen New Jersey	Pair Corr

Related Correlations Analysis

	AGTFX	FCQAX	NIMCX	MRHYX	CAYCX	PARKX	DMHIX	NMHYX
AGTFX		0.47	0.44	0.93	0.3	0.86	0.51	0.91	AGTFX
FCQAX	0.47		0.9	0.61	0.96	0.55	0.98	0.55	FCQAX
NIMCX	0.44	0.9		0.57	0.86	0.56	0.9	0.55	NIMCX
MRHYX	0.93	0.61	0.57		0.46	0.94	0.65	0.98	MRHYX
CAYCX	0.3	0.96	0.86	0.46		0.4	0.94	0.42	CAYCX
PARKX	0.86	0.55	0.56	0.94	0.4		0.59	0.94	PARKX
DMHIX	0.51	0.98	0.9	0.65	0.94	0.59		0.59	DMHIX
NMHYX	0.91	0.55	0.55	0.98	0.42	0.94	0.59		NMHYX
	AGTFX	FCQAX	NIMCX	MRHYX	CAYCX	PARKX	DMHIX	NMHYX

Risk-Adjusted Indicators

There is a big difference between Oak Mutual Fund performing well and Oak Ridge 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 Oak Ridge'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
AGTFX	0.68	0.10	0.12	0.19	0.58	(0.77)	1.13	(1.22)	9.26
FCQAX	0.07	0.02	(0.49)	8.33	0.00	(0.15)	0.21	(0.10)	0.62
NIMCX	0.05	0.00	(1.04)	0.88	0.00	(0.08)	0.12	(0.06)	0.31
MRHYX	0.09	0.01	(0.30)	0.18	0.00	(0.16)	0.24	(0.24)	0.59
CAYCX	0.08	0.02	(0.37)	11.77	0.00	(0.14)	0.21	(0.10)	0.73
PARKX	0.47	0.04	0.02	0.15	0.43	(0.51)	0.95	(0.85)	3.83
DMHIX	0.10	0.03	(0.31)	(1.65)	0.00	(0.17)	0.30	(0.10)	0.91
NMHYX	0.12	0.00	(0.36)	0.06	0.04	(0.15)	0.24	(0.24)	0.72

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