Oklahoma Municipal Correlations

OKMUX Fund

USD 10.36 0.03 0.29%

The current 90-days correlation between Oklahoma Municipal and Artisan High Income is 0.31 (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 0.16 (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 employment.

Moving together with OKLAHOMA Mutual Fund

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

Moving against OKLAHOMA Mutual Fund

0.35	ICWIX	Williston Basin/mid-north	Pair Corr
0.31	BIPIX	Biotechnology Ultrasector	Pair Corr

Related Correlations Analysis

	ARTFX	UIITX	MIIIX	CSBCX	SCCIX	FMUUX	ANBIX
ARTFX		0.78	0.72	0.78	0.72	0.89	0.84	ARTFX
UIITX	0.78		0.99	1.0	0.96	0.91	0.96	UIITX
MIIIX	0.72	0.99		0.99	0.96	0.87	0.95	MIIIX
CSBCX	0.78	1.0	0.99		0.95	0.91	0.96	CSBCX
SCCIX	0.72	0.96	0.96	0.95		0.87	0.95	SCCIX
FMUUX	0.89	0.91	0.87	0.91	0.87		0.96	FMUUX
ANBIX	0.84	0.96	0.95	0.96	0.95	0.96		ANBIX
	ARTFX	UIITX	MIIIX	CSBCX	SCCIX	FMUUX	ANBIX

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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
ARTFX	0.13	0.01	0.01	(0.14)	0.07	(0.19)	0.44	(0.22)	0.89
UIITX	0.23	0.01	0.03	0.54	0.21	(0.28)	0.55	(0.43)	1.45
MIIIX	0.25	0.01	0.03	0.69	0.23	(0.32)	0.54	(0.43)	1.42
CSBCX	0.22	0.01	0.03	0.35	0.23	(0.25)	0.49	(0.42)	1.42
SCCIX	0.26	0.01	0.01	(0.10)	0.25	(0.32)	0.57	(0.46)	1.44
FMUUX	0.03	0.00	0.00	(0.05)	0.00	0.00	0.10	0.00	0.40
ANBIX	0.16	0.03	0.10	(0.61)	0.00	(0.21)	0.38	(0.38)	0.98

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