Orinda Income Correlations

OIOIX Fund

USD 15.85 0.11 0.69%

The current 90-days correlation between Orinda Income Opport and Orinda Income Opportunities is 0.95 (i.e., Almost no diversification). The correlation of Orinda Income 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.

Orinda Income Correlation With Market

Very weak diversification

The correlation between Orinda Income Opportunities and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Orinda Income Opportunities 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 Orinda Income Opportunities. 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 Orinda Mutual Fund

0.94

OIODX

Orinda Income Opport

Pair Corr

Moving against Orinda Mutual Fund

0.68	PSDNX	Putnam Ultra Short	Pair Corr
0.65	VSGDX	Vanguard Short Term	Pair Corr
0.61	EBSIX	Campbell Systematic Macro	Pair Corr
0.52	GIOIX	Guggenheim Macro Opp	Pair Corr
0.49	NHS	Neuberger Berman High	Pair Corr
0.48	PPSIX	Preferred Securities	Pair Corr
0.48	SAEMX	Sa Emerging Markets	Pair Corr
0.48	HRBDX	Harbor Bond Fund	Pair Corr
0.47	PPSAX	Preferred Securities	Pair Corr
0.41	PRFCX	Preferred Securities	Pair Corr
0.38	CPXZX	Cohen Steers Preferred	Pair Corr
0.37	CPXIX	Cohen Steers Prfrd	Pair Corr
0.37	CPXFX	Cohen Steers Preferred	Pair Corr
0.35	CPXAX	Cohen Steers Preferd	Pair Corr
0.34	CPRRX	Cohen Steers Preferred	Pair Corr
0.31	CPXCX	Cohen Steers Prefrd	Pair Corr
0.72	GF	New Germany Closed	Pair Corr
0.71	ARBOX	Absolute Convertible	Pair Corr
0.7	EPDPX	Europac International	Pair Corr
0.67	SGDLX	Sprott Gold Equity	Pair Corr
0.66	BISMX	Brandes International	Pair Corr
0.62	ABNOX	Ab Bond Inflation	Pair Corr
0.57	EMBAX	Unconstrained Emerging	Pair Corr
0.56	MEERX	Massmutual Premier	Pair Corr
0.56	DLDFX	Destinations Low Duration	Pair Corr
0.51	UTF	Cohen And Steers	Pair Corr
0.5	HTD	John Hancock Tax	Pair Corr
0.46	USGDX	Morgan Stanley Government	Pair Corr
0.45	RMDUX	American Funds Multi	Pair Corr
0.45	VICSX	Vanguard Intermediate-ter	Pair Corr
0.4	DBIWX	Dws Global Macro	Pair Corr

Related Correlations Analysis

	OIODX	OIOIX	MNDVUX	NWWAX	SMGASX	PWJQX	FGWMX	PNPXX	RNDIX
OIODX		0.94	0.14	0.0	0.0	-0.23	-0.55	0.0	0.0	OIODX
OIOIX	0.94		0.19	0.0	0.0	-0.09	-0.46	0.0	0.0	OIOIX
MNDVUX	0.14	0.19		0.0	0.0	0.67	0.33	0.0	0.0	MNDVUX
NWWAX	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	NWWAX
SMGASX	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	SMGASX
PWJQX	-0.23	-0.09	0.67	0.0	0.0		0.7	0.0	0.0	PWJQX
FGWMX	-0.55	-0.46	0.33	0.0	0.0	0.7		0.0	0.0	FGWMX
PNPXX	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	PNPXX
RNDIX	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		RNDIX
	OIODX	OIOIX	MNDVUX	NWWAX	SMGASX	PWJQX	FGWMX	PNPXX	RNDIX

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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

OIOIX	+ 0.94	OIODX
FGWMX	+ 0.7	PWJQX
PWJQX	+ 0.67	MNDVUX
FGWMX	+ 0.33	MNDVUX
MNDVUX	+ 0.19	OIOIX
MNDVUX	+ 0.14	OIODX

High negative correlations

FGWMX	- 0.55	OIODX
FGWMX	- 0.46	OIOIX
PWJQX	- 0.23	OIODX
PWJQX	- 0.09	OIOIX
RNDIX	- 0.0	PNPXX
RNDIX	- 0.0	FGWMX

Risk-Adjusted Indicators

There is a big difference between Orinda Mutual Fund performing well and Orinda Income 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 Orinda Income'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
OIODX	0.46	(0.10)	0.00	(0.24)	0.00	0.00	0.85	(1.28)	2.88
OIOIX	0.44	(0.07)	0.00	(0.19)	0.00	0.00	0.88	(1.00)	2.86
MNDVUX	0.65	0.05	0.06	0.08	0.77	(0.68)	1.23	(1.22)	3.65
NWWAX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SMGASX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PWJQX	0.94	0.02	0.01	0.03	1.46	(0.87)	1.84	(2.34)	5.84
FGWMX	0.24	0.02	0.06	0.30	0.25	(0.26)	0.55	(0.39)	1.42
PNPXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RNDIX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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