Oak Ridge Correlations

ORSIX Fund

USD 16.54 0.04 0.24%

The current 90-days correlation between Oak Ridge Dynamic and Adams Natural Resources is 0.38 (i.e., 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 0.75 (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 gross domestic product.

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	ORSAX	Oak Ridge Dynamic	Pair Corr
0.9	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
0.92	FSSNX	Fidelity Small Cap	Pair Corr
0.93	DFSTX	Us Small Cap	Pair Corr
0.9	FTHSX	Fuller Thaler Behavioral	Pair Corr
0.9	FTHNX	Fuller Thaler Behavioral	Pair Corr
0.73	WHIAX	Ivy High Income	Pair Corr
0.64	IHIFX	Ivy High Income	Pair Corr
0.63	IVHIX	Ivy High Income	Pair Corr
0.67	NEEGX	Needham Growth	Pair Corr
0.84	JNYAX	Jpmorgan Smartretirement	Pair Corr
0.7	RLGCX	Riverfront Dynamic Equity	Pair Corr
0.92	MHELX	Mh Elite Small	Pair Corr
0.83	JRTYX	Multi Index 2050	Pair Corr
0.8	MAFCX	Abbey Capital Multi	Pair Corr
0.79	FXAIX	Fidelity 500 Index	Pair Corr
0.79	FUNYX	Pioneer Fundamental	Pair Corr

Related Correlations Analysis

	PEO	PSPFX	SNPIX	FRNRX	ICBAX	IGNAX	PNRCX	ALTEX
PEO		0.49	-0.9	0.62	0.54	0.47	0.6	-0.53	PEO
PSPFX	0.49		-0.18	0.83	0.84	0.87	0.94	-0.52	PSPFX
SNPIX	-0.9	-0.18		-0.37	-0.28	-0.17	-0.33	0.32	SNPIX
FRNRX	0.62	0.83	-0.37		0.85	0.96	0.87	-0.59	FRNRX
ICBAX	0.54	0.84	-0.28	0.85		0.86	0.89	-0.44	ICBAX
IGNAX	0.47	0.87	-0.17	0.96	0.86		0.88	-0.52	IGNAX
PNRCX	0.6	0.94	-0.33	0.87	0.89	0.88		-0.43	PNRCX
ALTEX	-0.53	-0.52	0.32	-0.59	-0.44	-0.52	-0.43		ALTEX
	PEO	PSPFX	SNPIX	FRNRX	ICBAX	IGNAX	PNRCX	ALTEX

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

IGNAX	+ 0.96	FRNRX
PNRCX	+ 0.94	PSPFX
PNRCX	+ 0.89	ICBAX
PNRCX	+ 0.88	IGNAX
IGNAX	+ 0.87	PSPFX
PNRCX	+ 0.87	FRNRX

High negative correlations

SNPIX	- 0.9	PEO
ALTEX	- 0.59	FRNRX
ALTEX	- 0.53	PEO
ALTEX	- 0.52	IGNAX
ALTEX	- 0.52	PSPFX
ALTEX	- 0.44	ICBAX

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
PEO	0.72	(0.01)	(0.05)	0.05	0.98	(0.66)	1.35	(1.55)	4.03
PSPFX	1.36	0.25	0.15	0.32	1.44	(1.57)	3.25	(3.00)	7.71
SNPIX	0.90	0.04	(0.07)	(0.01)	0.97	(1.00)	1.89	(1.45)	5.19
FRNRX	0.85	0.10	0.04	0.52	1.08	(0.89)	1.60	(1.93)	4.74
ICBAX	1.27	0.10	0.10	0.14	1.11	(1.60)	3.34	(1.94)	11.70
IGNAX	0.89	0.16	0.07	1.08	1.10	(0.91)	1.62	(2.10)	5.41
PNRCX	1.09	0.10	0.06	0.16	1.41	(1.08)	2.24	(2.62)	6.80
ALTEX	1.99	(0.36)	0.00	(0.10)	0.00	0.00	3.59	(4.81)	25.62

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