Oak Ridge Correlations

PORYX Fund

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The current 90-days correlation between Oak Ridge Multi and Alphacentric Hedged Market 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

Significant diversification

The correlation between Oak Ridge Multi and DJI is 0.03 (i.e., Significant 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 manufacturing.

Moving together with Oak Mutual Fund

0.85	ADVNX	Advisory Research	Pair Corr
0.87	ADVGX	Advisory Research All	Pair Corr
0.86	NKMCX	North Square Kennedy	Pair Corr
0.98	ORDNX	Oak Ridge Dividend	Pair Corr
0.79	ORIYX	Oak Ridge Small	Pair Corr
0.73	ORIGX	Oak Ridge Small	Pair Corr
0.85	ORILX	Oak Ridge Multi	Pair Corr
0.79	ORSAX	Oak Ridge Dynamic	Pair Corr
0.79	ORSIX	Oak Ridge Dynamic	Pair Corr
0.73	GWPCX	American Funds Growth	Pair Corr
0.64	GWPFX	American Funds Growth	Pair Corr
0.85	GWPAX	American Funds Growth	Pair Corr
0.89	CGRGX	American Funds Growth	Pair Corr
0.73	FPGGX	American Funds Growth	Pair Corr
0.73	FGPGX	American Funds Growth	Pair Corr
0.82	MUTHX	Franklin Mutual Shares	Pair Corr
0.96	TESRX	Franklin Mutual Shares	Pair Corr
0.92	FMSHX	Franklin Mutual Shares	Pair Corr
0.73	CGQGX	American Funds Growth	Pair Corr
0.8	WRHIX	Ivy High Income	Pair Corr
0.82	WHIAX	Ivy High Income	Pair Corr
0.67	IHIFX	Ivy High Income	Pair Corr
0.66	IVHIX	Ivy High Income	Pair Corr
1.0	ARDMX	One Choice 2040	Pair Corr
0.62	RFBAX	Davis Government Bond	Pair Corr
0.61	CUSOX	Columbia Ultra Short	Pair Corr
0.85	COAVX	Columbia Overseas Value	Pair Corr
0.92	TILVX	Tiaa Cref Large	Pair Corr
0.76	SAGCX	Clearbridge Aggressive	Pair Corr
0.83	VGIAX	Vanguard Growth And	Pair Corr
0.79	CIVVX	Causeway International	Pair Corr
0.75	JDINX	Janus Overseas	Pair Corr
0.91	SSGVX	State Street Global	Pair Corr

Related Correlations Analysis

	HMXAX	HMXIX	SXMAX	TSWEX	MNWAX	FLCGX	QNTAX	QNTIX	RYIIX	NEIMX
HMXAX		0.98	0.76	0.73	0.82	0.72	0.72	0.72	0.43	0.77	HMXAX
HMXIX	0.98		0.74	0.7	0.8	0.7	0.7	0.7	0.46	0.74	HMXIX
SXMAX	0.76	0.74		0.9	0.83	0.89	0.89	0.89	0.02	0.62	SXMAX
TSWEX	0.73	0.7	0.9		0.8	0.95	0.95	0.95	-0.1	0.58	TSWEX
MNWAX	0.82	0.8	0.83	0.8		0.87	0.87	0.87	0.36	0.65	MNWAX
FLCGX	0.72	0.7	0.89	0.95	0.87		1.0	1.0	0.02	0.56	FLCGX
QNTAX	0.72	0.7	0.89	0.95	0.87	1.0		1.0	0.02	0.57	QNTAX
QNTIX	0.72	0.7	0.89	0.95	0.87	1.0	1.0		0.02	0.56	QNTIX
RYIIX	0.43	0.46	0.02	-0.1	0.36	0.02	0.02	0.02		0.09	RYIIX
NEIMX	0.77	0.74	0.62	0.58	0.65	0.56	0.57	0.56	0.09		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

QNTAX	+ 1.0	FLCGX
QNTIX	+ 1.0	FLCGX
QNTIX	+ 1.0	QNTAX
HMXIX	+ 0.98	HMXAX
FLCGX	+ 0.95	TSWEX
QNTAX	+ 0.95	TSWEX

High negative correlations

RYIIX

- 0.1

TSWEX

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	0.54	0.03	(0.06)	0.34	0.76	(0.51)	0.95	(1.35)	4.41
HMXIX	0.54	0.03	(0.06)	0.27	0.74	(0.52)	0.97	(1.37)	4.30
SXMAX	0.49	0.19	0.38	0.57	0.00	(0.68)	0.57	(0.50)	12.92
TSWEX	0.81	0.32	0.36	1.14	0.00	(1.04)	1.29	(1.07)	18.53
MNWAX	0.25	(0.01)	(0.21)	0.06	0.23	(0.29)	0.46	(0.52)	1.14
FLCGX	0.65	0.10	0.13	0.18	0.49	(0.75)	1.24	(1.31)	9.76
QNTAX	0.65	0.09	0.13	0.18	0.47	(0.77)	1.26	(1.29)	9.60
QNTIX	0.65	0.09	0.13	0.18	0.49	(0.73)	1.26	(1.30)	9.66
RYIIX	0.76	(0.09)	0.00	(0.27)	0.00	0.00	1.55	(1.67)	4.63
NEIMX	0.53	0.11	0.04	1.56	0.46	(0.63)	1.10	(1.16)	2.60

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