Optimum Fixed Correlations

OCFIX Fund

USD 8.68 0.05 0.57%

The current 90-days correlation between Optimum Fixed Income and Ab Global Risk is 0.22 (i.e., Modest diversification). The correlation of Optimum Fixed 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 Fixed Correlation With Market

Average diversification

The correlation between Optimum Fixed Income and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Optimum Fixed Income 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 Fixed Income. 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 gross domestic product.

Moving together with Optimum Mutual Fund

0.74	IMAAX	Ivy Apollo Multi	Pair Corr
0.82	OCIEX	Optimum International	Pair Corr
0.91	DMO	Western Asset Mortgage	Pair Corr
0.71	CXHYX	Delaware National High	Pair Corr
0.62	FTOTX	First Investors Tax	Pair Corr
0.69	DLHIX	Delaware Healthcare	Pair Corr
0.77	DLTZX	Delaware Limited Term	Pair Corr
0.88	DLTRX	Delaware Limited Term	Pair Corr
0.62	IPOAX	Ivy Emerging Markets	Pair Corr
0.66	DMHIX	Delaware Minnesota High	Pair Corr
0.67	DMNIX	Delaware Tax Free	Pair Corr
0.63	DMTFX	Delaware Tax Free	Pair Corr
0.74	DMUSX	Delaware Tax Free	Pair Corr
0.66	IRSAX	Ivy Advantus Real	Pair Corr
1.0	OIFIX	Optimum Fixed Income	Pair Corr
0.82	OIIEX	Optimum International	Pair Corr
0.64	VCTFX	Delaware Tax Free	Pair Corr
1.0	DPCFX	Delaware Diversified	Pair Corr
0.91	DPDFX	Delaware Diversified	Pair Corr
0.91	DPFFX	Delaware Diversified	Pair Corr

Moving against Optimum Mutual Fund

0.77	OCSGX	Optimum Small Mid	Pair Corr
0.76	OASGX	Optimum Small Mid	Pair Corr
0.74	WSGAX	Ivy Small Cap	Pair Corr
0.65	OCLGX	Optimum Large Cap	Pair Corr
0.56	OASVX	Optimum Small Mid	Pair Corr
0.56	OCSVX	Optimum Small Mid	Pair Corr
0.54	WSTAX	Ivy Science And	Pair Corr
0.45	WCEAX	Ivy E Equity	Pair Corr
0.69	OISGX	Optimum Small Mid	Pair Corr
0.64	OISVX	Optimum Small Mid	Pair Corr
0.63	OILGX	Optimum Large Cap	Pair Corr
0.43	WHIAX	Ivy High Income	Pair Corr

Related Correlations Analysis

	CABIX	FTUFOX	XHYIX	FZNQEX	JTSQX	FMUUX
CABIX		0.29	0.37	0.38	0.9	0.47	CABIX
FTUFOX	0.29		0.03	0.88	-0.01	0.59	FTUFOX
XHYIX	0.37	0.03		-0.09	0.56	-0.22	XHYIX
FZNQEX	0.38	0.88	-0.09		0.05	0.73	FZNQEX
JTSQX	0.9	-0.01	0.56	0.05		0.13	JTSQX
FMUUX	0.47	0.59	-0.22	0.73	0.13		FMUUX
	CABIX	FTUFOX	XHYIX	FZNQEX	JTSQX	FMUUX

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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

JTSQX	+ 0.9	CABIX
FZNQEX	+ 0.88	FTUFOX
FMUUX	+ 0.73	FZNQEX
FMUUX	+ 0.59	FTUFOX
JTSQX	+ 0.56	XHYIX
FMUUX	+ 0.47	CABIX

High negative correlations

FMUUX	- 0.22	XHYIX
FZNQEX	- 0.09	XHYIX
JTSQX	- 0.01	FTUFOX

Risk-Adjusted Indicators

There is a big difference between Optimum Mutual Fund performing well and Optimum Fixed 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 Fixed'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
CABIX	0.39	0.00	0.00	(0.04)	0.00	0.00	0.73	(0.80)	2.58
FTUFOX	0.10	0.00	0.30	0.10	0.04	(0.10)	0.20	(0.19)	0.60
XHYIX	0.16	(0.03)	0.00	0.81	0.00	0.00	0.25	(0.49)	1.31
FZNQEX	0.08	(0.01)	0.23	4.87	0.11	(0.08)	0.16	(0.17)	0.48
JTSQX	0.66	0.00	0.00	(0.04)	0.00	0.00	1.22	(1.34)	3.69
FMUUX	0.03	0.00	0.00	(0.06)	0.00	0.00	0.10	0.00	0.40

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