Oak Ridge Correlations

ORSAX Fund

USD 16.86 0.04 0.24%

The current 90-days correlation between Oak Ridge Dynamic and Invesco Real Estate is 0.14 (i.e., Average 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

Significant diversification

The correlation between Oak Ridge Dynamic and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oak Ridge Dynamic 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 Dynamic. 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 nation.

Moving together with Oak Mutual Fund

0.92	ORIGX	Oak Ridge Small	Pair Corr
0.76	FTHNX	Fuller Thaler Behavioral	Pair Corr
0.73	PASVX	T Rowe Price	Pair Corr
0.67	GSESX	Goldman Sachs Equity	Pair Corr

Moving against Oak Mutual Fund

0.44	XNBHX	Neuberger Berman Int	Pair Corr
0.35	XDSMX	Dreyfus Strategic	Pair Corr
0.33	TEAF	Ecofin Sustainable And	Pair Corr
0.32	XNXJX	Nuveen New Jersey	Pair Corr

Related Correlations Analysis

	REINX	RRRZX	TRREX	CREFX	NRSCX
REINX		-0.1	0.93	0.62	0.64	REINX
RRRZX	-0.1		-0.07	0.42	-0.07	RRRZX
TRREX	0.93	-0.07		0.64	0.61	TRREX
CREFX	0.62	0.42	0.64		0.48	CREFX
NRSCX	0.64	-0.07	0.61	0.48		NRSCX
	REINX	RRRZX	TRREX	CREFX	NRSCX

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

TRREX	+ 0.93	REINX
NRSCX	+ 0.64	REINX
CREFX	+ 0.64	TRREX
CREFX	+ 0.62	REINX
NRSCX	+ 0.61	TRREX
NRSCX	+ 0.48	CREFX

High negative correlations

RRRZX	- 0.1	REINX
NRSCX	- 0.07	RRRZX
TRREX	- 0.07	RRRZX

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
REINX	0.60	0.06	0.02	0.20	0.66	(0.64)	1.38	(1.23)	5.46
RRRZX	0.52	(0.02)	(0.13)	(0.03)	0.80	(0.47)	0.93	(1.12)	3.03
TRREX	0.65	0.08	0.01	0.33	0.67	(0.77)	1.26	(1.11)	6.36
CREFX	0.53	0.03	(0.03)	0.19	0.88	(0.50)	1.10	(1.38)	3.62
NRSCX	0.35	0.07	(0.12)	(0.39)	0.27	(0.44)	0.65	(0.78)	3.57

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