Optimum Large Correlations

OILVX Fund

USD 18.83 0.08 0.42%

The current 90-days correlation between Optimum Large Cap and Ab Value Fund is 0.97 (i.e., Almost no diversification). The correlation of Optimum Large 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 Large Correlation With Market

Poor diversification

The correlation between Optimum Large Cap and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Optimum Large Cap 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 Large Cap. 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 real.

Moving together with Optimum Mutual Fund

0.7	IMAAX	Ivy Apollo Multi	Pair Corr
0.92	WASAX	Ivy Asset Strategy	Pair Corr
1.0	OCLVX	Optimum Large Cap	Pair Corr
0.72	WCEAX	Ivy E Equity	Pair Corr
0.71	DLHIX	Delaware Healthcare	Pair Corr
0.71	DLRHX	Delaware Healthcare	Pair Corr
0.7	IRSAX	Ivy Advantus Real	Pair Corr
0.82	FGIPX	First Investors Growth	Pair Corr

Related Correlations Analysis

	ABVCX	FLAKQX	RTIUX	XHYIX	FBJYGX	FFCGX	CPUCX	FZNOPX
ABVCX		0.82	0.31	0.62	-0.01	0.94	0.18	0.82	ABVCX
FLAKQX	0.82		0.33	0.51	0.21	0.84	0.26	0.55	FLAKQX
RTIUX	0.31	0.33		-0.11	0.73	0.43	0.86	-0.06	RTIUX
XHYIX	0.62	0.51	-0.11		0.0	0.6	-0.01	0.57	XHYIX
FBJYGX	-0.01	0.21	0.73	0.0		0.17	0.73	-0.28	FBJYGX
FFCGX	0.94	0.84	0.43	0.6	0.17		0.24	0.73	FFCGX
CPUCX	0.18	0.26	0.86	-0.01	0.73	0.24		-0.22	CPUCX
FZNOPX	0.82	0.55	-0.06	0.57	-0.28	0.73	-0.22		FZNOPX
	ABVCX	FLAKQX	RTIUX	XHYIX	FBJYGX	FFCGX	CPUCX	FZNOPX

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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

FFCGX	+ 0.94	ABVCX
CPUCX	+ 0.86	RTIUX
FFCGX	+ 0.84	FLAKQX
FLAKQX	+ 0.82	ABVCX
FZNOPX	+ 0.82	ABVCX
FBJYGX	+ 0.73	RTIUX

High negative correlations

FZNOPX	- 0.28	FBJYGX
FZNOPX	- 0.22	CPUCX
XHYIX	- 0.11	RTIUX
FZNOPX	- 0.06	RTIUX
CPUCX	- 0.01	XHYIX
FBJYGX	- 0.01	ABVCX

Risk-Adjusted Indicators

There is a big difference between Optimum Mutual Fund performing well and Optimum Large 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 Large'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
ABVCX	0.67	0.00	0.00	(0.06)	0.00	0.00	1.34	(1.63)	3.68
FLAKQX	0.83	0.04	0.05	(0.01)	1.12	(0.93)	1.75	(2.40)	4.80
RTIUX	0.61	0.10	0.16	0.14	0.76	(0.66)	1.47	(1.45)	5.02
XHYIX	0.16	(0.02)	0.00	(0.28)	0.00	0.00	0.25	(0.49)	1.31
FBJYGX	0.71	0.17	0.21	0.26	0.79	(0.73)	1.84	(1.37)	5.64
FFCGX	0.73	0.02	0.00	(0.04)	0.00	0.00	1.37	(1.56)	4.66
CPUCX	0.25	0.01	0.23	0.11	0.25	(0.31)	0.44	(0.54)	1.45
FZNOPX	0.75	0.02	0.00	(0.03)	0.00	0.00	1.55	(1.63)	3.75

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