Oil Equipment Correlations

OEPSX Fund

USD 60.06 1.52 2.47%

The current 90-days correlation between Oil Equipment Services and Gmo Global Equity is -0.08 (i.e., Good diversification). The correlation of Oil Equipment 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 Equipment Correlation With Market

Good diversification

The correlation between Oil Equipment Services and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oil Equipment Services 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 Oil Equipment Services. 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 state.

Moving against Oil Mutual Fund

0.6	REPIX	Real Estate Ultrasector	Pair Corr
0.59	GVPIX	Us Government Plus	Pair Corr
0.41	FNPIX	Financials Ultrasector Downward Rally	Pair Corr
0.37	HCPIX	Health Care Ultrasector	Pair Corr
0.35	BIPIX	Biotechnology Ultrasector	Pair Corr
0.5	LIIAX	Columbia Porate Income	Pair Corr
0.49	SRINX	Columbia Porate Income	Pair Corr
0.37	REMVX	Rbc Emerging Markets	Pair Corr
0.36	0P0001GXZ7	Oaktree (lux)	Pair Corr
0.34	RFXCX	Rational Special Sit	Pair Corr

Related Correlations Analysis

	GMADX	SMNIX	MNCRX	DHGCX	RTIUX	TIQIX	WRLDX	SWSFX
GMADX		-0.05	0.81	0.51	0.82	0.82	0.65	0.59	GMADX
SMNIX	-0.05		0.16	0.33	0.2	0.19	0.15	0.42	SMNIX
MNCRX	0.81	0.16		0.8	0.88	0.87	0.86	0.5	MNCRX
DHGCX	0.51	0.33	0.8		0.76	0.7	0.76	0.33	DHGCX
RTIUX	0.82	0.2	0.88	0.76		0.98	0.8	0.62	RTIUX
TIQIX	0.82	0.19	0.87	0.7	0.98		0.77	0.65	TIQIX
WRLDX	0.65	0.15	0.86	0.76	0.8	0.77		0.2	WRLDX
SWSFX	0.59	0.42	0.5	0.33	0.62	0.65	0.2		SWSFX
	GMADX	SMNIX	MNCRX	DHGCX	RTIUX	TIQIX	WRLDX	SWSFX

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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

TIQIX	+ 0.98	RTIUX
RTIUX	+ 0.88	MNCRX
TIQIX	+ 0.87	MNCRX
WRLDX	+ 0.86	MNCRX
RTIUX	+ 0.82	GMADX
TIQIX	+ 0.82	GMADX

High negative correlations

SMNIX

- 0.05

GMADX

Risk-Adjusted Indicators

There is a big difference between Oil Mutual Fund performing well and Oil Equipment 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 Equipment'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
GMADX	0.62	0.05	0.07	0.02	1.28	(0.60)	1.00	(1.19)	11.02
SMNIX	0.40	0.03	0.29	(0.67)	0.31	(0.58)	0.97	(0.69)	1.98
MNCRX	0.21	0.02	0.27	0.04	0.25	(0.26)	0.39	(0.38)	1.45
DHGCX	0.17	0.01	0.49	(0.47)	0.07	(0.24)	0.37	(0.36)	1.10
RTIUX	0.53	0.04	0.17	(0.44)	0.70	(0.55)	1.17	(1.41)	3.05
TIQIX	0.63	0.05	0.19	(0.36)	0.77	(0.66)	1.39	(1.21)	3.89
WRLDX	0.53	(0.02)	0.00	0.45	0.00	0.00	0.94	(1.14)	3.19
SWSFX	0.06	0.02	0.00	(2.52)	0.00	0.00	0.39	0.00	0.59

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