Optimum Small Correlations

OISGX Fund

USD 15.35 0.18 1.19%

The current 90-days correlation between Optimum Small Mid and Duff And Phelps is 0.21 (i.e., Modest diversification). The correlation of Optimum Small 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.

Optimum Small Correlation With Market

Poor diversification

The correlation between Optimum Small Mid Cap and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Optimum Small Mid Cap 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 Optimum Small Mid Cap. 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 price.

Moving together with Optimum Mutual Fund

0.84	OASGX	Optimum Small Mid	Pair Corr
0.71	OASVX	Optimum Small Mid	Pair Corr
0.68	OCLVX	Optimum Large Cap	Pair Corr
0.63	OCLGX	Optimum Large Cap	Pair Corr
0.9	OCSGX	Optimum Small Mid	Pair Corr
0.69	OCSVX	Optimum Small Mid	Pair Corr
0.75	DLHIX	Delaware Healthcare	Pair Corr
0.74	DLRHX	Delaware Healthcare	Pair Corr
0.69	DLTZX	Delaware Limited Term	Pair Corr
0.65	DLTRX	Delaware Limited Term	Pair Corr
0.77	OIIEX	Optimum International	Pair Corr
0.75	OILVX	Optimum Large Cap	Pair Corr
0.76	OISVX	Optimum Small Mid	Pair Corr
0.73	DPRSX	Delaware Reit	Pair Corr
0.82	DPRRX	Delaware Reit	Pair Corr
0.82	DPRDX	Real Estate	Pair Corr
0.94	FICHX	First Investors Select	Pair Corr
0.79	FICGX	First Investors Select	Pair Corr
0.68	DTINX	Delaware Limited Term	Pair Corr
0.82	DCCIX	Delaware Small Cap	Pair Corr
0.75	DCCRX	Delaware Small Cap	Pair Corr
0.82	DCZRX	Delaware Small Cap	Pair Corr

Moving against Optimum Mutual Fund

0.7

DMO

Western Asset Mortgage

Pair Corr

Related Correlations Analysis

	DPG	SPWYX	SPPP	PRCNX	BUFSX	NML	HULEX	NMIAX	OMAH	MNHIX
DPG		0.04	-0.35	-0.4	-0.07	-0.33	-0.39	-0.63	-0.34	-0.39	DPG
SPWYX	0.04		0.21	0.22	0.92	-0.16	0.61	0.23	0.13	0.45	SPWYX
SPPP	-0.35	0.21		0.89	0.37	0.15	0.64	0.81	0.47	0.71	SPPP
PRCNX	-0.4	0.22	0.89		0.39	0.18	0.69	0.87	0.55	0.75	PRCNX
BUFSX	-0.07	0.92	0.37	0.39		0.08	0.74	0.43	0.37	0.63	BUFSX
NML	-0.33	-0.16	0.15	0.18	0.08		0.37	0.32	0.65	0.48	NML
HULEX	-0.39	0.61	0.64	0.69	0.74	0.37		0.69	0.56	0.73	HULEX
NMIAX	-0.63	0.23	0.81	0.87	0.43	0.32	0.69		0.64	0.84	NMIAX
OMAH	-0.34	0.13	0.47	0.55	0.37	0.65	0.56	0.64		0.79	OMAH
MNHIX	-0.39	0.45	0.71	0.75	0.63	0.48	0.73	0.84	0.79		MNHIX
	DPG	SPWYX	SPPP	PRCNX	BUFSX	NML	HULEX	NMIAX	OMAH	MNHIX

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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

BUFSX	+ 0.92	SPWYX
PRCNX	+ 0.89	SPPP
NMIAX	+ 0.87	PRCNX
MNHIX	+ 0.84	NMIAX
NMIAX	+ 0.81	SPPP
MNHIX	+ 0.79	OMAH

High negative correlations

NMIAX	- 0.63	DPG
PRCNX	- 0.4	DPG
MNHIX	- 0.39	DPG
HULEX	- 0.39	DPG
SPPP	- 0.35	DPG
OMAH	- 0.34	DPG

Risk-Adjusted Indicators

There is a big difference between Optimum Mutual Fund performing well and Optimum Small 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 Optimum Small'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
DPG	0.55	0.00	(0.05)	0.07	0.77	(0.54)	0.85	(1.17)	3.26
SPWYX	1.03	(0.06)	(0.02)	0.01	1.43	(0.97)	1.97	(2.04)	6.81
SPPP	2.35	0.00	0.08	0.00	3.55	(2.45)	5.88	(4.32)	24.65
PRCNX	0.71	0.19	0.21	0.45	0.44	(0.89)	1.09	(1.26)	11.41
BUFSX	0.95	(0.06)	(0.03)	0.01	1.22	(1.01)	1.95	(1.96)	5.62
NML	0.81	(0.04)	(0.05)	0.00	1.17	(0.82)	1.61	(1.67)	4.55
HULEX	0.54	(0.04)	(0.06)	0.00	0.75	(0.53)	0.96	(1.31)	2.84
NMIAX	0.75	0.14	0.16	0.17	0.64	(0.87)	1.54	(1.26)	12.40
OMAH	0.41	0.00	(0.08)	0.04	0.60	(0.39)	1.09	(1.08)	2.40
MNHIX	0.52	0.02	0.01	0.08	0.66	(0.55)	1.16	(1.00)	3.05

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