Oil Gas Correlations
| ENPIX Fund | USD 43.63 0.45 1.02% |
The current 90-days correlation between Oil Gas Ultrasector and Precious Metals Ultrasector is 0.27 (i.e., Modest diversification). The correlation of Oil Gas 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.
Oil Gas Correlation With Market
Weak diversification
The correlation between Oil Gas Ultrasector and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oil Gas Ultrasector and DJI in the same portfolio, assuming nothing else is changed.
Oil |
Moving together with Oil Mutual Fund
| 1.0 | ENPSX | Oil Gas Ultrasector Steady Growth | PairCorr |
Related Correlations Analysis
| 0.56 | 0.37 | 0.63 | 0.28 | PMPIX | ||
| 0.56 | 0.63 | 0.66 | 0.62 | REPIX | ||
| 0.37 | 0.63 | 0.67 | 0.88 | BMPIX | ||
| 0.63 | 0.66 | 0.67 | 0.67 | UTPIX | ||
| 0.28 | 0.62 | 0.88 | 0.67 | FNPIX | ||
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Risk-Adjusted Indicators
There is a big difference between Oil Mutual Fund performing well and Oil Gas 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 Oil Gas' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PMPIX | 2.12 | 0.52 | 0.19 | 0.62 | 2.46 | 4.91 | 11.87 | |||
| REPIX | 1.39 | 0.00 | 0.00 | (0.07) | 0.00 | 2.69 | 7.54 | |||
| BMPIX | 1.17 | (0.02) | 0.00 | (0.09) | 0.00 | 2.00 | 7.11 | |||
| UTPIX | 1.25 | 0.07 | 0.06 | 0.06 | 1.61 | 2.78 | 7.38 | |||
| FNPIX | 1.23 | 0.06 | 0.00 | (0.02) | 0.00 | 2.08 | 9.08 |