Optimum Small-mid Correlations

OASVX Fund

USD 13.44 0.19 1.43%

The current 90-days correlation between Optimum Small Mid and Gmo Quality Fund is 0.73 (i.e., Poor diversification). The correlation of Optimum Small-mid 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 Small-mid Correlation With Market

Significant diversification

The correlation between Optimum Small Mid Cap and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Optimum Small Mid 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 Small Mid 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 unemployment.

Moving together with Optimum Mutual Fund

0.85	OCSVX	Optimum Small Mid	Pair Corr
0.85	OISVX	Optimum Small Mid	Pair Corr
0.75	DCCIX	Delaware Small Cap	Pair Corr
0.75	DCCRX	Delaware Small Cap	Pair Corr

Moving against Optimum Mutual Fund

0.7	DMO	Western Asset Mortgage	Pair Corr
0.6	DLHIX	Delaware Healthcare	Pair Corr
0.59	DMHIX	Delaware Minnesota High	Pair Corr
0.59	DMNIX	Delaware Tax Free	Pair Corr
0.54	DLRHX	Delaware Healthcare	Pair Corr
0.47	DLTRX	Delaware Limited Term	Pair Corr
0.44	DLTZX	Delaware Limited Term	Pair Corr
0.36	OIFIX	Optimum Fixed Income	Pair Corr
0.61	DTIDX	Delaware Tax Free	Pair Corr
0.55	DTFIX	Delaware Tax Free	Pair Corr
0.54	DTINX	Delaware Limited Term	Pair Corr
0.32	DPRDX	Real Estate	Pair Corr
0.31	DPRSX	Delaware Reit	Pair Corr
0.31	DPRRX	Delaware Reit	Pair Corr
0.61	DTPIX	Delaware Tax Free	Pair Corr
0.6	DCOIX	Delaware Tax Free	Pair Corr
0.57	DVHIX	Delaware National High	Pair Corr
0.56	DCTIX	Delaware Tax Free	Pair Corr
0.55	DUSIX	Delaware Tax Free	Pair Corr
0.54	DTNIX	Delaware Tax Free	Pair Corr

Related Correlations Analysis

	GQESX	LMUSX	REMVX	AMTOX	XMHFX	VWAHX	FHTFX
GQESX		0.84	0.9	0.89	0.66	0.87	0.84	GQESX
LMUSX	0.84		0.86	0.86	0.53	0.73	0.75	LMUSX
REMVX	0.9	0.86		0.91	0.71	0.93	0.91	REMVX
AMTOX	0.89	0.86	0.91		0.63	0.87	0.83	AMTOX
XMHFX	0.66	0.53	0.71	0.63		0.82	0.84	XMHFX
VWAHX	0.87	0.73	0.93	0.87	0.82		0.97	VWAHX
FHTFX	0.84	0.75	0.91	0.83	0.84	0.97		FHTFX
	GQESX	LMUSX	REMVX	AMTOX	XMHFX	VWAHX	FHTFX

Risk-Adjusted Indicators

There is a big difference between Optimum Mutual Fund performing well and Optimum Small-mid 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 Small-mid'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
GQESX	0.57	0.12	0.06	1.30	0.72	(0.57)	1.26	(1.14)	3.44
LMUSX	0.54	0.03	0.02	0.11	0.75	(0.51)	1.25	(1.38)	3.59
REMVX	0.64	0.13	0.10	0.29	0.68	(0.72)	1.38	(0.83)	4.64
AMTOX	0.47	0.04	0.02	0.15	0.51	(0.54)	1.06	(1.04)	3.23
XMHFX	0.15	0.03	(0.17)	3.25	0.00	(0.22)	0.29	(0.14)	1.45
VWAHX	0.14	0.06	(0.10)	11.97	0.00	(0.24)	0.48	(0.19)	1.16
FHTFX	0.13	0.06	(0.09)	1.72	0.00	(0.24)	0.39	(0.13)	1.16

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