Oklahoma Municipal Correlations

OKMIX Fund

USD 10.37 0.03 0.29%

The current 90-days correlation between Oklahoma Municipal and Morningstar Municipal Bond is 0.34 (i.e., Weak diversification). The correlation of Oklahoma Municipal 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.

Oklahoma Municipal Correlation With Market

Average diversification

The correlation between Oklahoma Municipal Fund and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oklahoma Municipal Fund 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 Oklahoma Municipal Fund. 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 Oklahoma Mutual Fund

0.96	VMTIX	Viking Tax Free	Pair Corr
1.0	VMTTX	Viking Tax Free	Pair Corr
0.85	NEITX	Nebraska Municipal	Pair Corr
0.86	NEMUX	Nebraska Municipal	Pair Corr
0.68	IHFAX	Integrity High Income	Pair Corr
0.68	IHFCX	Integrity High Income	Pair Corr
0.76	IHFIX	Integrity High Income	Pair Corr
0.9	KSMUX	Kansas Municipal	Pair Corr
0.64	HICOX	Colorado Bondshares	Pair Corr
0.99	KYTFX	Kentucky Tax Free	Pair Corr
0.94	UVABX	Virginia Bond	Pair Corr
0.95	HULYX	Hawaiian Tax Free	Pair Corr
0.95	HULFX	Hawaiian Tax Free	Pair Corr
0.96	ORTYX	Aquila Tax Free	Pair Corr
0.93	UVAIX	Usaa Virginia Bond	Pair Corr
0.94	USVAX	Virginia Bond	Pair Corr
0.96	HULAX	Hawaiian Tax Free	Pair Corr
0.7	DBIWX	Dws Global Macro	Pair Corr
0.68	VICSX	Vanguard Intermediate-ter	Pair Corr

Moving against Oklahoma Mutual Fund

0.38

ICWIX

Williston Basin/mid-north

Pair Corr

Related Correlations Analysis

	MSTPX	XMHFX	BIDPX	TWTIX	OKMIX	HHMYX	MCHXX	MDMTX	BBINX
MSTPX		0.55	0.89	0.93	0.92	0.91	0.0	0.87	0.95	MSTPX
XMHFX	0.55		0.55	0.39	0.58	0.29	0.0	0.56	0.36	XMHFX
BIDPX	0.89	0.55		0.96	0.98	0.92	0.0	0.97	0.82	BIDPX
TWTIX	0.93	0.39	0.96		0.96	0.99	0.0	0.94	0.92	TWTIX
OKMIX	0.92	0.58	0.98	0.96		0.92	0.0	0.98	0.86	OKMIX
HHMYX	0.91	0.29	0.92	0.99	0.92		0.0	0.9	0.94	HHMYX
MCHXX	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	MCHXX
MDMTX	0.87	0.56	0.97	0.94	0.98	0.9	0.0		0.79	MDMTX
BBINX	0.95	0.36	0.82	0.92	0.86	0.94	0.0	0.79		BBINX
	MSTPX	XMHFX	BIDPX	TWTIX	OKMIX	HHMYX	MCHXX	MDMTX	BBINX

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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

HHMYX	+ 0.99	TWTIX
OKMIX	+ 0.98	BIDPX
MDMTX	+ 0.98	OKMIX
MDMTX	+ 0.97	BIDPX
TWTIX	+ 0.96	BIDPX
OKMIX	+ 0.96	TWTIX

High negative correlations

BBINX	- 0.0	MCHXX
MDMTX	- 0.0	MCHXX
MCHXX	- 0.0	HHMYX
MCHXX	- 0.0	OKMIX
MCHXX	- 0.0	TWTIX
MCHXX	- 0.0	BIDPX

Risk-Adjusted Indicators

There is a big difference between Oklahoma Mutual Fund performing well and Oklahoma Municipal 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 Oklahoma Municipal'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
MSTPX	0.14	(0.01)	0.00	0.56	0.00	0.00	0.20	(0.30)	0.91
XMHFX	0.20	(0.05)	0.00	1.09	0.00	0.00	0.42	(0.42)	1.12
BIDPX	0.18	(0.02)	0.00	(0.94)	0.00	0.00	0.37	(0.45)	1.09
TWTIX	0.14	(0.01)	0.00	(0.59)	0.00	0.00	0.37	(0.37)	0.94
OKMIX	0.18	(0.03)	0.00	(0.58)	0.00	0.00	0.39	(0.57)	1.33
HHMYX	0.13	(0.01)	(0.04)	(0.43)	0.18	(0.19)	0.36	(0.36)	0.84
MCHXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MDMTX	0.18	(0.02)	0.00	(0.42)	0.00	0.00	0.38	(0.57)	1.34
BBINX	0.13	(0.01)	(0.05)	0.34	0.18	(0.18)	0.29	(0.30)	0.78

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