Oak Ridge Correlations

ORSAX Fund

USD 17.04 0.22 1.31%

The current 90-days correlation between Oak Ridge Dynamic and Ultra Short Fixed Income is -0.24 (i.e., Very good 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

Very poor diversification

The correlation between Oak Ridge Dynamic and DJI is 0.82 (i.e., Very 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

0.88	NSIVX	North Square Investments	Pair Corr
0.85	ADVNX	Advisory Research	Pair Corr
0.92	ADVGX	Advisory Research All	Pair Corr
0.83	ADVAX	Api Efficient Frontier	Pair Corr
0.91	PORYX	Oak Ridge Multi	Pair Corr
0.94	NKMCX	North Square Kennedy	Pair Corr
0.84	ORDNX	Oak Ridge Dividend	Pair Corr
0.92	ORIYX	Oak Ridge Small	Pair Corr
0.92	ORIGX	Oak Ridge Small	Pair Corr
0.93	ORILX	Oak Ridge Multi	Pair Corr
0.95	ORSIX	Oak Ridge Dynamic	Pair Corr
0.94	VSMAX	Vanguard Small Cap	Pair Corr
0.9	VSCIX	Vanguard Small Cap	Pair Corr
0.9	VSCPX	Vanguard Small Cap	Pair Corr
0.9	NAESX	Vanguard Small Cap	Pair Corr
0.88	FSSNX	Fidelity Small Cap	Pair Corr
0.87	DFSTX	Us Small Cap	Pair Corr
0.83	FTHSX	Fuller Thaler Behavioral	Pair Corr
0.83	FTHNX	Fuller Thaler Behavioral	Pair Corr
0.9	PASVX	T Rowe Price	Pair Corr
0.87	PRVIX	T Rowe Price	Pair Corr
0.91	FSMMX	Fs Multi Strategy	Pair Corr
0.87	BTMPX	Ishares Msci Eafe	Pair Corr
0.85	BTMKX	Blackrock International	Pair Corr
0.85	MDIIX	Blackrock Intern Index	Pair Corr
0.65	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.66	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.65	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.65	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.84	CADPX	Columbia Global Dividend	Pair Corr
0.73	MKNJX	Blackrock New Jersey	Pair Corr
0.81	TRAIX	T Rowe Price	Pair Corr
0.91	TLWIX	Tiaa Cref Lifecycle	Pair Corr
0.88	GSSMX	Goldman Sachs Small	Pair Corr
0.83	VVIAX	Vanguard Value Index	Pair Corr
0.93	DHSYX	Diamond Hill Small	Pair Corr
0.93	TCMSX	Tcm Small Cap	Pair Corr

Related Correlations Analysis

	HQIAX	FLDFX	VDEQX	SMNIX	DFVEX	DODFX	SWSFX
HQIAX		0.91	0.05	0.11	0.82	0.82	0.79	HQIAX
FLDFX	0.91		0.11	0.07	0.96	0.95	0.89	FLDFX
VDEQX	0.05	0.11		-0.5	0.08	-0.08	-0.15	VDEQX
SMNIX	0.11	0.07	-0.5		0.0	0.1	0.28	SMNIX
DFVEX	0.82	0.96	0.08	0.0		0.96	0.88	DFVEX
DODFX	0.82	0.95	-0.08	0.1	0.96		0.93	DODFX
SWSFX	0.79	0.89	-0.15	0.28	0.88	0.93		SWSFX
	HQIAX	FLDFX	VDEQX	SMNIX	DFVEX	DODFX	SWSFX

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

DFVEX	+ 0.96	FLDFX
DODFX	+ 0.96	DFVEX
DODFX	+ 0.95	FLDFX
SWSFX	+ 0.93	DODFX
FLDFX	+ 0.91	HQIAX
SWSFX	+ 0.89	FLDFX

High negative correlations

SMNIX	- 0.5	VDEQX
SWSFX	- 0.15	VDEQX
DODFX	- 0.08	VDEQX
DFVEX	- 0.0	SMNIX

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
HQIAX	0.72	0.30	0.41	(0.78)	0.00	(0.91)	1.30	(1.02)	14.91
FLDFX	0.42	0.06	0.09	0.13	0.34	(0.51)	0.84	(0.85)	4.03
VDEQX	0.57	(0.03)	(0.04)	0.00	0.85	(0.54)	0.94	(1.51)	4.09
SMNIX	0.45	0.00	0.00	0.05	0.00	0.00	0.86	(0.81)	3.18
DFVEX	0.54	0.05	0.06	0.09	0.60	(0.59)	1.00	(1.05)	3.92
DODFX	0.54	0.10	0.08	0.18	0.85	(0.56)	1.03	(1.02)	5.55
SWSFX	0.03	0.00	0.00	0.04	0.00	0.00	0.10	(0.10)	0.58

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