Oak Ridge Correlations

ORSIX Fund

USD 14.11 0.07 0.49%

The current 90-days correlation between Oak Ridge Dynamic and Putnam Global Health is 0.46 (i.e., Very weak diversification). The correlation of Oak Ridge 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.

Oak Ridge Correlation With Market

Poor diversification

The correlation between Oak Ridge Dynamic and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oak Ridge Dynamic 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 Oak Ridge Dynamic. 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 Oak Mutual Fund

0.78	PORYX	Oak Ridge Multi	Pair Corr
0.73	NKMCX	North Square Kennedy	Pair Corr
0.95	ORIYX	Oak Ridge Small	Pair Corr
0.95	VSMAX	Vanguard Small Cap	Pair Corr
0.95	VSCIX	Vanguard Small Cap	Pair Corr
0.95	VSCPX	Vanguard Small Cap	Pair Corr
0.95	NAESX	Vanguard Small Cap	Pair Corr
0.96	FSSNX	Fidelity Small Cap	Pair Corr
0.96	DFSTX	Us Small Cap	Pair Corr
0.96	PASVX	T Rowe Price	Pair Corr
0.96	PRVIX	T Rowe Price	Pair Corr
0.95	TRZVX	T Rowe Price	Pair Corr
0.93	PRSVX	T Rowe Price	Pair Corr
0.83	VTSAX	Vanguard Total Stock	Pair Corr
0.86	VFIAX	Vanguard 500 Index	Pair Corr
0.83	VTSMX	Vanguard Total Stock	Pair Corr
0.88	VSMPX	Vanguard Total Stock	Pair Corr
0.88	VSTSX	Vanguard Total Stock	Pair Corr
0.88	VITSX	Vanguard Total Stock	Pair Corr
0.86	VFINX	Vanguard 500 Index	Pair Corr
0.86	VFFSX	Vanguard 500 Index	Pair Corr

Moving against Oak Mutual Fund

0.62	NMKBX	North Square Mckee	Pair Corr
0.6	NMKYX	North Square Mckee	Pair Corr
0.54	NSIVX	North Square Investments	Pair Corr
0.74	ASBFX	Short Term Bond	Pair Corr
0.66	WATCX	Western Asset Interm	Pair Corr
0.64	GIGGX	Deutsche Gnma	Pair Corr
0.62	UTDIX	My529 International Value	Pair Corr
0.51	VGTSX	Vanguard Total Inter	Pair Corr
0.51	VTIAX	Vanguard Total Inter	Pair Corr
0.5	VTMGX	Vanguard Developed	Pair Corr
0.5	TEDPX	Tiaa Cref Emerging	Pair Corr
0.44	DURIX	Deutsche European Equity	Pair Corr
0.4	MIPIX	Matthews Asia Dividend	Pair Corr
0.35	RYWTX	Emerging Markets	Pair Corr

Related Correlations Analysis

	PHSTX	ECHSX	BGHDX	BHSRX	PRHSX	SWHFX	HCPIX	SCHLX
PHSTX		0.87	0.16	0.77	0.48	0.87	0.81	0.8	PHSTX
ECHSX	0.87		-0.11	0.97	0.42	0.75	0.97	0.94	ECHSX
BGHDX	0.16	-0.11		-0.17	0.7	0.39	-0.22	-0.12	BGHDX
BHSRX	0.77	0.97	-0.17		0.44	0.63	0.94	0.92	BHSRX
PRHSX	0.48	0.42	0.7	0.44		0.58	0.29	0.47	PRHSX
SWHFX	0.87	0.75	0.39	0.63	0.58		0.71	0.76	SWHFX
HCPIX	0.81	0.97	-0.22	0.94	0.29	0.71		0.93	HCPIX
SCHLX	0.8	0.94	-0.12	0.92	0.47	0.76	0.93		SCHLX
	PHSTX	ECHSX	BGHDX	BHSRX	PRHSX	SWHFX	HCPIX	SCHLX

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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

BHSRX	+ 0.97	ECHSX
HCPIX	+ 0.97	ECHSX
SCHLX	+ 0.94	ECHSX
HCPIX	+ 0.94	BHSRX
SCHLX	+ 0.93	HCPIX
SCHLX	+ 0.92	BHSRX

High negative correlations

HCPIX	- 0.22	BGHDX
BHSRX	- 0.17	BGHDX
SCHLX	- 0.12	BGHDX
BGHDX	- 0.11	ECHSX

Risk-Adjusted Indicators

There is a big difference between Oak Mutual Fund performing well and Oak Ridge 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 Oak Ridge'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
PHSTX	0.66	0.01	0.00	(0.05)	0.00	0.00	1.34	(1.12)	4.12
ECHSX	0.65	0.05	0.10	0.03	0.77	(0.69)	1.34	(1.22)	3.92
BGHDX	0.02	(0.02)	0.00	(1.07)	0.00	0.00	0.00	0.00	0.35
BHSRX	0.63	0.06	0.12	0.04	0.72	(0.70)	1.32	(0.96)	3.74
PRHSX	0.91	(0.17)	0.00	(0.51)	0.00	0.00	1.43	(1.50)	11.14
SWHFX	0.72	(0.07)	0.00	0.34	0.00	0.00	1.29	(1.22)	7.88
HCPIX	0.99	0.12	0.13	0.11	0.99	(1.10)	1.88	(1.69)	4.95
SCHLX	0.64	0.01	0.12	(0.17)	0.70	(0.72)	1.25	(1.17)	3.70

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