Oakmark Bond Correlations

OAYCX Fund

USD 8.97 0.01 0.11%

The current 90-days correlation between Oakmark Bond and Pace High Yield is 0.38 (i.e., Weak diversification). The correlation of Oakmark Bond 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.

Oakmark Bond Correlation With Market

Good diversification

The correlation between Oakmark Bond and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oakmark Bond 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 Oakmark Bond. 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 main economic indicators.

Moving together with Oakmark Mutual Fund

1.0	OAZCX	Oakmark Bond	Pair Corr
1.0	OAKCX	Harris Associates	Pair Corr
0.65	OAKEX	Oakmark International	Pair Corr
1.0	OANCX	Oakmark Bond	Pair Corr
0.99	MWTNX	Metropolitan West Total	Pair Corr
0.95	MWTSX	Metropolitan West Total	Pair Corr
0.99	PTTPX	Pimco Total Return	Pair Corr
0.99	PTRRX	Total Return	Pair Corr
0.99	PTRAX	Total Return	Pair Corr
0.99	PTTRX	Total Return	Pair Corr
0.95	FIWGX	Strategic Advisers	Pair Corr
1.0	DODIX	Dodge Income	Pair Corr

Moving against Oakmark Mutual Fund

0.62	OAYMX	Oakmark Fund Advisor	Pair Corr
0.62	OAYLX	Oakmark Select	Pair Corr
0.62	OAZMX	Oakmark Fund R6	Pair Corr
0.62	OAKMX	Oakmark Fund Investor	Pair Corr
0.62	OAKLX	Oakmark Select	Pair Corr
0.61	OAZLX	Oakmark Select	Pair Corr
0.51	OAZBX	Oakmark Equity And	Pair Corr
0.51	OAYBX	Oakmark Equity And	Pair Corr
0.51	OAKBX	Oakmark Equity And	Pair Corr
0.62	OANMX	Oakmark Fund Institu	Pair Corr
0.61	OANLX	Oakmark Select	Pair Corr
0.51	OANBX	Oakmark Equity And	Pair Corr

Related Correlations Analysis

	PHDTX	APDFX	DIHRX	SGYAX	CABIX	MWHIX	AWF
PHDTX		0.95	-0.37	0.93	0.42	0.52	0.08	PHDTX
APDFX	0.95		-0.4	0.97	0.34	0.54	0.05	APDFX
DIHRX	-0.37	-0.4		-0.47	0.55	0.26	0.77	DIHRX
SGYAX	0.93	0.97	-0.47		0.26	0.45	-0.07	SGYAX
CABIX	0.42	0.34	0.55	0.26		0.58	0.72	CABIX
MWHIX	0.52	0.54	0.26	0.45	0.58		0.65	MWHIX
AWF	0.08	0.05	0.77	-0.07	0.72	0.65		AWF
	PHDTX	APDFX	DIHRX	SGYAX	CABIX	MWHIX	AWF

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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

SGYAX	+ 0.97	APDFX
APDFX	+ 0.95	PHDTX
SGYAX	+ 0.93	PHDTX
AWF	+ 0.77	DIHRX
AWF	+ 0.72	CABIX
AWF	+ 0.65	MWHIX

High negative correlations

SGYAX	- 0.47	DIHRX
DIHRX	- 0.4	APDFX
DIHRX	- 0.37	PHDTX
AWF	- 0.07	SGYAX

Risk-Adjusted Indicators

There is a big difference between Oakmark Mutual Fund performing well and Oakmark Bond 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 Oakmark Bond'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
PHDTX	0.09	0.02	(0.56)	0.47	0.00	(0.14)	0.22	(0.11)	0.56
APDFX	0.11	0.04	(0.53)	(4.25)	0.00	(0.18)	0.33	(0.11)	0.66
DIHRX	0.61	(0.05)	(0.15)	(0.03)	0.78	(0.63)	1.33	(1.15)	4.35
SGYAX	0.13	0.03	(0.47)	(16.43)	0.00	(0.24)	0.29	(0.14)	0.99
CABIX	0.29	0.02	(0.22)	0.45	0.29	(0.33)	0.56	(0.62)	1.86
MWHIX	0.08	0.00	(0.77)	(0.16)	0.00	(0.17)	0.21	(0.21)	0.64
AWF	0.31	(0.02)	(0.29)	0.00	0.34	(0.37)	0.56	(0.72)	1.83

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