Oak Ridge Correlations

PORYX Fund

USD 20.36 0.10 0.49%

The current 90-days correlation between Oak Ridge Multi and Oak Ridge Small is 0.41 (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 0.87 (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 unemployment.

Moving together with Oak Mutual Fund

0.97	NSIVX	North Square Investments	Pair Corr
0.88	ADVNX	Advisory Research	Pair Corr
0.96	ADVGX	Advisory Research All	Pair Corr
0.89	ADVAX	Api Efficient Frontier	Pair Corr
0.99	NKMCX	North Square Kennedy	Pair Corr
0.96	ORDNX	Oak Ridge Dividend	Pair Corr
0.87	ORIYX	Oak Ridge Small	Pair Corr
0.87	ORIGX	Oak Ridge Small	Pair Corr
0.98	ORILX	Oak Ridge Multi	Pair Corr
0.92	ORSAX	Oak Ridge Dynamic	Pair Corr
0.94	ORSIX	Oak Ridge Dynamic	Pair Corr
0.79	GWPCX	American Funds Growth	Pair Corr
0.8	GWPFX	American Funds Growth	Pair Corr
0.77	GWPAX	American Funds Growth	Pair Corr
0.9	CGRGX	American Funds Growth	Pair Corr
0.91	FPGGX	American Funds Growth	Pair Corr
0.9	FGPGX	American Funds Growth	Pair Corr
0.9	MUTHX	Franklin Mutual Shares	Pair Corr
0.96	TESRX	Franklin Mutual Shares	Pair Corr
0.96	FMSHX	Franklin Mutual Shares	Pair Corr
0.9	CGQGX	American Funds Growth	Pair Corr
0.69	LIIAX	Columbia Porate Income	Pair Corr
0.63	SRINX	Columbia Porate Income	Pair Corr
0.78	WRHIX	Ivy High Income	Pair Corr
0.82	WHIAX	Ivy High Income	Pair Corr
0.83	IHIFX	Ivy High Income	Pair Corr
0.81	IVHIX	Ivy High Income	Pair Corr
0.91	AFDIX	Sustainable Equity	Pair Corr
0.65	BCOIX	Baird E Plus	Pair Corr
0.95	SILLX	Qs Global Equity	Pair Corr
0.71	XFFCX	Flahertycrumrineclaymr	Pair Corr
0.88	CGIFX	International Growth And	Pair Corr
0.97	FMDRX	Franklin Mutual Global	Pair Corr
0.62	EBSCX	Equinox Campbell Strategy	Pair Corr
0.86	SCJAX	Steward Ered Call	Pair Corr
0.86	DPLTX	Dreyfus High Yield	Pair Corr

Related Correlations Analysis

	NSIVX	ADVNX	ADVGX	ADVAX	NKMCX	NMKYX	NMKBX	ORDNX	ORIYX
NSIVX		0.93	0.95	0.93	0.96	0.65	0.67	0.96	0.85	NSIVX
ADVNX	0.93		0.88	1.0	0.89	0.71	0.73	0.94	0.85	ADVNX
ADVGX	0.95	0.88		0.88	0.98	0.51	0.52	0.93	0.95	ADVGX
ADVAX	0.93	1.0	0.88		0.89	0.7	0.72	0.94	0.85	ADVAX
NKMCX	0.96	0.89	0.98	0.89		0.49	0.52	0.95	0.92	NKMCX
NMKYX	0.65	0.71	0.51	0.7	0.49		0.93	0.6	0.51	NMKYX
NMKBX	0.67	0.73	0.52	0.72	0.52	0.93		0.64	0.52	NMKBX
ORDNX	0.96	0.94	0.93	0.94	0.95	0.6	0.64		0.85	ORDNX
ORIYX	0.85	0.85	0.95	0.85	0.92	0.51	0.52	0.85		ORIYX
	NSIVX	ADVNX	ADVGX	ADVAX	NKMCX	NMKYX	NMKBX	ORDNX	ORIYX

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
NSIVX	0.61	0.23	0.37	0.45	0.00	(0.79)	1.22	(0.74)	9.85
ADVNX	0.17	0.05	(0.18)	(10.07)	0.00	(0.22)	0.40	(0.30)	1.61
ADVGX	0.93	0.15	0.17	0.22	0.76	(1.13)	2.53	(1.61)	8.33
ADVAX	0.16	0.05	(0.21)	(5.19)	0.00	(0.21)	0.40	(0.20)	1.61
NKMCX	1.12	0.29	0.33	0.32	0.50	(1.46)	2.38	(1.76)	14.17
NMKYX	0.16	0.01	(0.41)	0.23	0.00	(0.21)	0.34	(0.23)	0.68
NMKBX	0.14	0.03	(0.45)	(0.42)	0.00	(0.20)	0.33	(0.22)	0.67
ORDNX	0.11	0.05	(0.28)	(1.48)	0.00	(0.15)	0.19	(0.10)	2.39
ORIYX	0.81	0.08	0.09	0.17	0.74	(0.93)	1.94	(1.72)	5.31

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Oak Ridge Correlations

Oak Ridge Correlation With Market

Very poor diversification

Moving together with Oak Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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