Oak Ridge Correlations

ORSAX Fund

USD 16.47 0.04 0.24%

The current 90-days correlation between Oak Ridge Dynamic and Needham Small Cap is 0.83 (i.e., Very poor 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 Dynamic and DJI is 0.77 (i.e., Poor 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

0.68	NKMCX	North Square Kennedy	Pair Corr
0.91	ORIYX	Oak Ridge Small	Pair Corr
0.79	ORIGX	Oak Ridge Small	Pair Corr
1.0	ORSIX	Oak Ridge Dynamic	Pair Corr
0.81	VSMAX	Vanguard Small Cap	Pair Corr
0.81	VSCIX	Vanguard Small Cap	Pair Corr
0.77	NAESX	Vanguard Small Cap	Pair Corr
0.87	FSSNX	Fidelity Small Cap	Pair Corr
0.82	DFSTX	Us Small Cap	Pair Corr
0.78	FTHSX	Fuller Thaler Behavioral	Pair Corr
0.8	FTHNX	Fuller Thaler Behavioral	Pair Corr
0.85	MVEIX	Monteagle Select Value	Pair Corr
0.71	VFINX	Vanguard 500 Index	Pair Corr
0.84	JAMEX	Jamestown Equity	Pair Corr
0.73	HUSIX	Huber Capital Small	Pair Corr
0.8	IIRSX	Voya Russelltm Small	Pair Corr
0.69	JTLAX	Multimanager Lifestyle	Pair Corr
0.7	JALGX	Multimanager Lifestyle	Pair Corr
0.63	GMIMX	Nationwide Investor	Pair Corr

Moving against Oak Mutual Fund

0.38

BULIX

Utilities Fund Investor

Pair Corr

Related Correlations Analysis

	NESGX	UMBHX	IJSIX	TVOYX	RYSVX	MAVKX
NESGX		0.62	0.77	0.37	0.64	0.49	NESGX
UMBHX	0.62		0.74	0.79	0.58	0.64	UMBHX
IJSIX	0.77	0.74		0.79	0.82	0.87	IJSIX
TVOYX	0.37	0.79	0.79		0.69	0.87	TVOYX
RYSVX	0.64	0.58	0.82	0.69		0.74	RYSVX
MAVKX	0.49	0.64	0.87	0.87	0.74		MAVKX
	NESGX	UMBHX	IJSIX	TVOYX	RYSVX	MAVKX

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
NESGX	1.62	(0.08)	0.00	0.03	2.35	(1.61)	3.08	(4.29)	10.20
UMBHX	1.20	0.00	0.02	0.07	1.64	(1.18)	2.32	(2.36)	7.38
IJSIX	0.85	(0.05)	(0.03)	0.03	1.09	(0.87)	1.74	(1.82)	4.57
TVOYX	0.75	0.01	0.02	0.08	0.89	(0.81)	1.75	(1.39)	4.44
RYSVX	0.94	0.00	(0.04)	0.06	1.23	(0.92)	2.18	(1.84)	5.39
MAVKX	0.76	0.00	0.01	0.07	0.87	(0.82)	1.75	(1.33)	5.50

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