Oppenhmr Discovery Correlations

OEGYX Fund

USD 34.23 0.09 0.26%

The current 90-days correlation between Oppenhmr Discovery Mid and Ridgeworth Seix Government is 0.22 (i.e., Modest diversification). The correlation of Oppenhmr Discovery 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.

Oppenhmr Discovery Correlation With Market

Good diversification

The correlation between Oppenhmr Discovery Mid and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenhmr Discovery Mid 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 Oppenhmr Discovery Mid. 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 Oppenhmr Mutual Fund

0.97	PAMCX	T Rowe Price	Pair Corr
0.97	RRMGX	T Rowe Price	Pair Corr
0.97	TRQZX	T Rowe Price	Pair Corr
0.83	RPMGX	T Rowe Price	Pair Corr
0.89	PRJIX	T Rowe Price	Pair Corr
0.89	TRUZX	T Rowe Price	Pair Corr
0.88	PCBIX	Midcap Fund Institutional	Pair Corr
0.71	PEMGX	Midcap Fund Class	Pair Corr
0.87	PMBCX	Midcap Fund Class	Pair Corr
0.8	VTSAX	Vanguard Total Stock	Pair Corr
0.81	VFIAX	Vanguard 500 Index	Pair Corr
0.81	VTSMX	Vanguard Total Stock	Pair Corr
0.81	VSMPX	Vanguard Total Stock	Pair Corr
0.81	VSTSX	Vanguard Total Stock	Pair Corr
0.95	VITSX	Vanguard Total Stock	Pair Corr
0.95	VFINX	Vanguard 500 Index	Pair Corr
0.81	VFFSX	Vanguard 500 Index	Pair Corr
0.77	VGTSX	Vanguard Total Inter	Pair Corr
0.77	VTIAX	Vanguard Total Inter	Pair Corr
0.65	AA	Alcoa Corp	Pair Corr
0.73	IBM	International Business	Pair Corr
0.63	AXP	American Express Sell-off Trend	Pair Corr
0.63	GE	GE Aerospace	Pair Corr
0.7	CSCO	Cisco Systems	Pair Corr
0.67	DIS	Walt Disney	Pair Corr
0.68	CAT	Caterpillar	Pair Corr
0.7	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.62	MSFT	Microsoft Earnings Call This Week	Pair Corr

Related Correlations Analysis

	SIGVX	RFBAX	PYUSX	PRRXX	DPIGX	SMAAX	FCSCX	IVMXX
SIGVX		0.94	0.88	0.43	0.91	0.95	0.94	0.59	SIGVX
RFBAX	0.94		0.96	0.37	0.97	0.87	0.93	0.43	RFBAX
PYUSX	0.88	0.96		0.31	0.99	0.81	0.94	0.35	PYUSX
PRRXX	0.43	0.37	0.31		0.32	0.57	0.39	0.68	PRRXX
DPIGX	0.91	0.97	0.99	0.32		0.83	0.95	0.37	DPIGX
SMAAX	0.95	0.87	0.81	0.57	0.83		0.88	0.72	SMAAX
FCSCX	0.94	0.93	0.94	0.39	0.95	0.88		0.51	FCSCX
IVMXX	0.59	0.43	0.35	0.68	0.37	0.72	0.51		IVMXX
	SIGVX	RFBAX	PYUSX	PRRXX	DPIGX	SMAAX	FCSCX	IVMXX

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Risk-Adjusted Indicators

There is a big difference between Oppenhmr Mutual Fund performing well and Oppenhmr Discovery 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 Oppenhmr Discovery'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
SIGVX	0.06	0.01	(2.02)	1.06	0.00	(0.19)	0.10	(0.10)	0.61
RFBAX	0.09	0.01	(1.11)	(0.33)	0.00	(0.22)	0.20	(0.20)	0.78
PYUSX	0.14	0.00	(1.20)	0.20	0.08	(0.18)	0.32	(0.21)	0.75
PRRXX	0.03	0.01	0.00	(1.23)	0.00	0.00	0.00	0.00	1.01
DPIGX	0.09	0.00	(1.69)	0.11	0.00	(0.13)	0.11	(0.21)	0.63
SMAAX	0.10	0.02	(1.14)	5.26	0.00	(0.15)	0.21	(0.10)	0.61
FCSCX	0.06	0.00	(1.62)	0.32	0.00	(0.19)	0.13	(0.13)	0.53
IVMXX	0.03	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1.01

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Oppenhmr Discovery Correlations

Oppenhmr Discovery Correlation With Market

Good diversification

Moving together with Oppenhmr Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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