Optimum International Correlations

Mutual Funds . USA . 
Fund . Optimum International Fund
OIIEX Fund  USD 15.03  0.03  0.20%   
The current 90-days correlation between Optimum International and Old Westbury Large is -0.06 (i.e., Good diversification). The correlation of Optimum International 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 International Correlation With Market

Very weak diversification

The correlation between Optimum International Fund 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 Optimum International 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 Optimum International 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 income.

Moving together with Optimum Mutual Fund

  0.97OASGX Optimum Small MidPairCorr
  0.92OASVX Optimum Small MidPairCorr
  0.71IMAAX Ivy Apollo MultiPairCorr
  0.98WASAX Ivy Asset StrategyPairCorr
  0.98WSGAX Ivy Small CapPairCorr
  0.99OCIEX Optimum InternationalPairCorr
  0.96OCLVX Optimum Large CapPairCorr
  0.97OCLGX Optimum Large CapPairCorr
  0.97OCSGX Optimum Small MidPairCorr
  0.93OCSVX Optimum Small MidPairCorr
  0.97WSTAX Ivy Science AndPairCorr
  0.87DMO Western Asset MortgagePairCorr
  0.96WCEAX Ivy E EquityPairCorr
  0.79DLTZX Delaware Limited TermPairCorr
  0.81DLTRX Delaware Limited TermPairCorr
  0.98IPOAX Ivy Emerging MarketsPairCorr
  0.85IRSAX Ivy Advantus RealPairCorr
  0.64OIFIX Optimum Fixed IncomePairCorr
  0.97OILGX Optimum Large CapPairCorr
  0.96OILVX Optimum Large CapPairCorr
  0.67DPCFX Delaware DiversifiedPairCorr
  0.7DPDFX Delaware DiversifiedPairCorr
  0.7DPFFX Delaware DiversifiedPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Optimum Mutual Fund performing well and Optimum International 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 International'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.

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