Oak Ridge Correlations

ORSAX Fund

USD 17.07 0.02 0.12%

The current 90-days correlation between Oak Ridge Dynamic and Morningstar Municipal Bond is 0.41 (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 Dynamic and DJI is 0.72 (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

0.91	NSIVX	North Square Investments	Pair Corr
0.9	ADVNX	Advisory Research	Pair Corr
0.81	ADVGX	Advisory Research All	Pair Corr
0.9	ADVAX	Api Efficient Frontier	Pair Corr
0.79	PORYX	Oak Ridge Multi	Pair Corr
0.97	NKMCX	North Square Kennedy	Pair Corr
0.9	ORDNX	Oak Ridge Dividend	Pair Corr
0.97	ORIYX	Oak Ridge Small	Pair Corr
0.97	ORIGX	Oak Ridge Small	Pair Corr
0.93	ORILX	Oak Ridge Multi	Pair Corr
1.0	ORSIX	Oak Ridge Dynamic	Pair Corr
0.76	VSMAX	Vanguard Small Cap	Pair Corr
0.76	VSCIX	Vanguard Small Cap	Pair Corr
0.76	VSCPX	Vanguard Small Cap	Pair Corr
0.76	NAESX	Vanguard Small Cap	Pair Corr
0.73	FSSNX	Fidelity Small Cap	Pair Corr
0.76	DFSTX	Us Small Cap	Pair Corr
0.78	FTHSX	Fuller Thaler Behavioral	Pair Corr
0.78	FTHNX	Fuller Thaler Behavioral	Pair Corr
0.93	PASVX	T Rowe Price	Pair Corr
0.79	PRVIX	T Rowe Price	Pair Corr
0.93	CDOAX	Columbia Dividend	Pair Corr
0.8	TILVX	Tiaa Cref Large	Pair Corr
0.68	PZIEX	Pzena Emerging Markets	Pair Corr
0.81	APHGX	Artisan Global Value	Pair Corr
0.9	GSESX	Goldman Sachs Equity	Pair Corr
0.79	OASVX	Optimum Small Mid	Pair Corr
0.85	MISEX	Midas Special	Pair Corr

Moving against Oak Mutual Fund

0.66	TEAF	Ecofin Sustainable And	Pair Corr
0.57	XNBHX	Neuberger Berman Int	Pair Corr
0.43	XNXJX	Nuveen New Jersey	Pair Corr
0.39	XDSMX	Dreyfus Strategic	Pair Corr

Related Correlations Analysis

	MSTPX	FCSCX	PTRMX	OWMBX	BBINX	TIMTX	FCMAX
MSTPX		0.47	0.57	0.72	0.63	0.6	0.6	MSTPX
FCSCX	0.47		0.62	0.78	0.8	0.85	0.62	FCSCX
PTRMX	0.57	0.62		0.93	0.93	0.92	0.96	PTRMX
OWMBX	0.72	0.78	0.93		0.96	0.96	0.93	OWMBX
BBINX	0.63	0.8	0.93	0.96		0.99	0.96	BBINX
TIMTX	0.6	0.85	0.92	0.96	0.99		0.93	TIMTX
FCMAX	0.6	0.62	0.96	0.93	0.96	0.93		FCMAX
	MSTPX	FCSCX	PTRMX	OWMBX	BBINX	TIMTX	FCMAX

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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MSTPX	0.05	0.00	(0.80)	0.15	(0.11)	0.10	(0.10)	0.20
FCSCX	0.05	0.00	(0.59)	1.98	(0.19)	0.13	(0.13)	0.53
PTRMX	0.07	0.02	(0.63)	6.92	(0.10)	0.18	(0.13)	0.49
OWMBX	0.05	0.01	(0.88)	2.35	(0.10)	0.09	(0.09)	0.26
BBINX	0.06	0.01	(0.61)	3.37	(0.14)	0.19	(0.10)	0.48
TIMTX	0.07	0.02	(0.48)	(3.66)	(0.13)	0.19	(0.09)	0.56
FCMAX	0.08	0.02	(0.62)	4.26	(0.14)	0.24	(0.08)	0.57

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