Ophmr Eml Correlations

OEMAX Fund  USD 5.15  0.01  0.19%   
The current 90-days correlation between Ophmr Eml Dbt and Invesco Municipal Income is 0.46 (i.e., Very weak diversification). The correlation of Ophmr Eml 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.

Ophmr Eml Correlation With Market

Significant diversification

The correlation between Ophmr Eml Dbt and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ophmr Eml Dbt 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 Ophmr Eml Dbt. 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 nation.

Moving together with Ophmr Mutual Fund

  0.62VMICX Invesco Municipal IncomePairCorr
  0.65VMINX Invesco Municipal IncomePairCorr
  0.66VMIIX Invesco Municipal IncomePairCorr
  0.88AMHYX Invesco High YieldPairCorr
  0.79OSICX Oppenheimer StrategicPairCorr
  0.85HYIFX Invesco High YieldPairCorr
  0.88HYINX Invesco High YieldPairCorr
  0.82ILAAX Invesco Income AllocationPairCorr
  0.82PXCCX Invesco Select RiskPairCorr
  0.72BRCRX Invesco Balanced RiskPairCorr
  0.66BRCNX Invesco Balanced RiskPairCorr
  0.82PXCIX Invesco Select RiskPairCorr
  0.66BRCCX Invesco Balanced RiskPairCorr
  0.65BRCYX Invesco Balanced RiskPairCorr
  0.95EMLDX Invesco Emerging MarketsPairCorr
  0.79PXMQX Invesco Select RiskPairCorr
  0.77PXMSX Invesco Select RiskPairCorr
  0.79PXMMX Invesco Select RiskPairCorr
  0.8OCCIX Oppenheimer CnsrvtvPairCorr
  0.62MLPRX Oppenheimer Steelpath MlpPairCorr
  0.63STBYX Invesco Short TermPairCorr
  0.64STBRX Invesco Short TermPairCorr

Related Correlations Analysis

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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   
VMINXVMICX
VMIIXVMINX
VMIIXVMICX
HYINXAMHYX
OSMAXOARDX
HYIFXAMHYX
  
High negative correlations   
OSICXOARDX

Risk-Adjusted Indicators

There is a big difference between Ophmr Mutual Fund performing well and Ophmr Eml 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 Ophmr Eml'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
VMICX  0.19  0.00  0.15  0.14  0.29 
 0.34 
 1.34 
VMINX  0.18  0.00  0.16  0.03  0.24 
 0.42 
 1.34 
VMIIX  0.19  0.00  0.16 (0.06) 0.27 
 0.42 
 1.34 
OARDX  0.74 (0.14) 0.00 (0.27) 0.00 
 1.08 
 11.21 
AMHYX  0.16  0.01  0.25 (0.21) 0.04 
 0.56 
 1.14 
OSICX  0.28  0.04  0.23 (0.52) 0.15 
 0.65 
 1.96 
OSMAX  0.71 (0.07) 0.00 (0.20) 0.00 
 1.45 
 9.99 
OSMCX  0.75 (0.14) 0.00 (0.31) 0.00 
 1.44 
 10.90 
HYIFX  0.15  0.01  0.19  0.09  0.10 
 0.29 
 1.42 
HYINX  0.13  0.01  0.20  1.75  0.06 
 0.56 
 1.14