Oak Ridge Correlations

PORYX Fund

USD 20.29 0.10 0.49%

The current 90-days correlation between Oak Ridge Multi and Neiman Large Cap is 0.42 (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

Very poor diversification

The correlation between Oak Ridge Multi and DJI is 0.86 (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 Multi 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 Multi. 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 services.

Moving together with Oak Mutual Fund

0.97	NSIVX	North Square Investments	Pair Corr
0.89	ADVNX	Advisory Research	Pair Corr
0.96	ADVGX	Advisory Research All	Pair Corr
0.88	ADVAX	Api Efficient Frontier	Pair Corr
0.99	NKMCX	North Square Kennedy	Pair Corr
0.98	ORDNX	Oak Ridge Dividend	Pair Corr
0.86	ORIYX	Oak Ridge Small	Pair Corr
0.86	ORIGX	Oak Ridge Small	Pair Corr
0.94	ORSAX	Oak Ridge Dynamic	Pair Corr
0.94	ORSIX	Oak Ridge Dynamic	Pair Corr
0.76	GWPCX	American Funds Growth	Pair Corr
0.77	GWPFX	American Funds Growth	Pair Corr
0.78	GWPAX	American Funds Growth	Pair Corr
0.89	CGRGX	American Funds Growth	Pair Corr
0.89	FPGGX	American Funds Growth	Pair Corr
0.89	FGPGX	American Funds Growth	Pair Corr
0.89	MUTHX	Franklin Mutual Shares	Pair Corr
0.96	TESRX	Franklin Mutual Shares	Pair Corr
0.96	FMSHX	Franklin Mutual Shares	Pair Corr
0.89	CGQGX	American Funds Growth	Pair Corr
0.83	EKWAX	Wells Fargo Advantage Steady Growth	Pair Corr
0.97	UJPIX	Ultrajapan Profund Steady Growth	Pair Corr
0.87	FKRCX	Franklin Gold Precious Steady Growth	Pair Corr
0.83	OPGSX	Oppenheimer Gold Spec Steady Growth	Pair Corr
0.79	KF	Korea Closed	Pair Corr
0.82	FSAGX	Gold Portfolio Gold Steady Growth	Pair Corr
0.86	PSPFX	Global Resources Steady Growth	Pair Corr
0.82	GOLDX	Gabelli Gold Steady Growth	Pair Corr
0.88	UNWPX	World Precious Minerals	Pair Corr
0.84	SGGDX	First Eagle Gold Steady Growth	Pair Corr
0.78	VMLTX	Vanguard Limited Term	Pair Corr
0.79	CFVLX	Value Fund	Pair Corr
0.91	TMMIX	Transamerica Asset	Pair Corr
0.96	BBGSX	Bridge Builder Smallmid	Pair Corr
0.7	XAVKX	Advent Claymore Conv	Pair Corr
0.75	PSRCX	Pioneer Strategic Income	Pair Corr
0.89	BLNDX	Standpoint Multi Asset	Pair Corr

Related Correlations Analysis

	HMXAX	HMXIX	SXMAX	TSWEX	MNWAX	FLCGX	QNTAX	QNTIX	RYIIX	NEIMX
HMXAX		1.0	0.79	0.72	0.88	0.84	0.85	0.84	0.07	0.47	HMXAX
HMXIX	1.0		0.79	0.71	0.88	0.84	0.84	0.84	0.07	0.47	HMXIX
SXMAX	0.79	0.79		0.9	0.59	0.88	0.88	0.88	-0.44	0.77	SXMAX
TSWEX	0.72	0.71	0.9		0.53	0.93	0.93	0.93	-0.51	0.76	TSWEX
MNWAX	0.88	0.88	0.59	0.53		0.71	0.71	0.71	0.34	0.27	MNWAX
FLCGX	0.84	0.84	0.88	0.93	0.71		1.0	1.0	-0.28	0.68	FLCGX
QNTAX	0.85	0.84	0.88	0.93	0.71	1.0		1.0	-0.28	0.69	QNTAX
QNTIX	0.84	0.84	0.88	0.93	0.71	1.0	1.0		-0.28	0.69	QNTIX
RYIIX	0.07	0.07	-0.44	-0.51	0.34	-0.28	-0.28	-0.28		-0.74	RYIIX
NEIMX	0.47	0.47	0.77	0.76	0.27	0.68	0.69	0.69	-0.74		NEIMX
	HMXAX	HMXIX	SXMAX	TSWEX	MNWAX	FLCGX	QNTAX	QNTIX	RYIIX	NEIMX

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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

HMXIX	+ 1.0	HMXAX
QNTAX	+ 1.0	FLCGX
QNTIX	+ 1.0	FLCGX
QNTIX	+ 1.0	QNTAX
FLCGX	+ 0.93	TSWEX
QNTAX	+ 0.93	TSWEX

High negative correlations

NEIMX	- 0.74	RYIIX
RYIIX	- 0.51	TSWEX
RYIIX	- 0.44	SXMAX
RYIIX	- 0.28	QNTIX
RYIIX	- 0.28	QNTAX
RYIIX	- 0.28	FLCGX

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
HMXAX	0.60	0.02	0.00	0.11	0.71	(0.60)	1.09	(1.37)	5.09
HMXIX	0.59	0.02	0.00	0.11	0.71	(0.61)	1.09	(1.39)	4.96
SXMAX	0.47	0.23	0.48	0.72	0.00	(0.63)	0.69	(0.44)	13.41
TSWEX	0.77	0.40	0.50	1.33	0.00	(0.95)	1.30	(0.93)	18.61
MNWAX	0.25	0.00	(0.16)	0.07	0.26	(0.29)	0.45	(0.53)	1.57
FLCGX	0.65	0.13	0.17	0.22	0.41	(0.80)	1.14	(1.29)	10.40
QNTAX	0.65	0.13	0.17	0.22	0.41	(0.82)	1.13	(1.27)	10.26
QNTIX	0.65	0.13	0.17	0.22	0.40	(0.79)	1.10	(1.30)	10.29
RYIIX	0.85	(0.12)	0.00	(0.09)	0.00	0.00	1.57	(2.20)	5.86
NEIMX	0.55	0.13	0.15	0.28	0.38	(0.63)	1.11	(0.82)	3.43

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