Optimum Small-mid Correlations

OISGX Fund

USD 15.00 0.26 1.70%

The current 90-days correlation between Optimum Small Mid and Duff And Phelps is 0.11 (i.e., Average 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

Very poor diversification

The correlation between Optimum Small Mid Cap and DJI is 0.8 (i.e., Very poor 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 rate.

Moving together with Optimum Mutual Fund

0.91	OASGX	Optimum Small Mid	Pair Corr
0.65	OASVX	Optimum Small Mid	Pair Corr
0.85	OCFIX	Optimum Fixed Income	Pair Corr
0.87	WASAX	Ivy Asset Strategy	Pair Corr
0.91	WSGAX	Ivy Small Cap	Pair Corr
0.75	OCIEX	Optimum International	Pair Corr
0.92	OCLVX	Optimum Large Cap	Pair Corr
0.83	OCLGX	Optimum Large Cap	Pair Corr
1.0	OCSGX	Optimum Small Mid	Pair Corr
0.63	OCSVX	Optimum Small Mid	Pair Corr
0.8	WSTAX	Ivy Science And	Pair Corr
0.79	DMO	Western Asset Mortgage	Pair Corr
0.82	CXHYX	Delaware National High	Pair Corr
0.83	WCEAX	Ivy E Equity	Pair Corr
0.64	FTNYX	Delaware Tax Free	Pair Corr
0.83	FTORX	First Investors Tax	Pair Corr
0.84	FTOTX	First Investors Tax	Pair Corr
0.82	DLHIX	Delaware Healthcare	Pair Corr
0.82	DLHCX	Delaware Healthcare	Pair Corr
0.8	DLHAX	Delaware Healthcare	Pair Corr
0.8	DLRHX	Delaware Healthcare	Pair Corr
0.83	DLTZX	Delaware Limited Term	Pair Corr
0.82	DLTRX	Delaware Limited Term	Pair Corr
0.78	IPOAX	Ivy Emerging Markets	Pair Corr
0.82	DMHIX	Delaware Minnesota High	Pair Corr
0.81	DMOCX	Delaware Tax Free	Pair Corr
0.82	DMNIX	Delaware Tax Free	Pair Corr
0.82	DMTFX	Delaware Tax Free	Pair Corr
0.84	DMUSX	Delaware Tax Free	Pair Corr
0.81	IRSAX	Ivy Advantus Real	Pair Corr
0.85	OIFIX	Optimum Fixed Income	Pair Corr
0.83	OIIEX	Optimum International	Pair Corr
0.88	OILGX	Optimum Large Cap	Pair Corr
0.93	OILVX	Optimum Large Cap	Pair Corr
0.83	VCTFX	Delaware Tax Free	Pair Corr
0.84	DPCFX	Delaware Diversified	Pair Corr
0.83	DPDFX	Delaware Diversified	Pair Corr
0.84	DPFFX	Delaware Diversified	Pair Corr

Related Correlations Analysis

	DPG	SPWYX	SPPP	PRCNX	BUFSX	NML	HULEX	NMIAX	OMAH	MNHIX
DPG		0.68	0.82	0.64	0.35	-0.49	0.16	0.67	0.28	0.48	DPG
SPWYX	0.68		0.7	0.87	0.84	-0.16	0.73	0.96	0.71	0.83	SPWYX
SPPP	0.82	0.7		0.64	0.44	-0.41	0.2	0.69	0.25	0.51	SPPP
PRCNX	0.64	0.87	0.64		0.77	-0.25	0.71	0.92	0.75	0.88	PRCNX
BUFSX	0.35	0.84	0.44	0.77		-0.04	0.77	0.78	0.8	0.9	BUFSX
NML	-0.49	-0.16	-0.41	-0.25	-0.04		0.3	-0.1	0.16	-0.06	NML
HULEX	0.16	0.73	0.2	0.71	0.77	0.3		0.75	0.84	0.71	HULEX
NMIAX	0.67	0.96	0.69	0.92	0.78	-0.1	0.75		0.74	0.85	NMIAX
OMAH	0.28	0.71	0.25	0.75	0.8	0.16	0.84	0.74		0.81	OMAH
MNHIX	0.48	0.83	0.51	0.88	0.9	-0.06	0.71	0.85	0.81		MNHIX
	DPG	SPWYX	SPPP	PRCNX	BUFSX	NML	HULEX	NMIAX	OMAH	MNHIX

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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

NMIAX	+ 0.96	SPWYX
NMIAX	+ 0.92	PRCNX
MNHIX	+ 0.9	BUFSX
MNHIX	+ 0.88	PRCNX
PRCNX	+ 0.87	SPWYX
MNHIX	+ 0.85	NMIAX

High negative correlations

NML	- 0.49	DPG
NML	- 0.41	SPPP
NML	- 0.25	PRCNX
NML	- 0.16	SPWYX
NMIAX	- 0.1	NML
MNHIX	- 0.06	NML

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
DPG	0.41	0.08	0.06	0.56	0.25	(0.52)	1.03	(0.69)	2.58
SPWYX	0.91	0.04	0.06	0.09	0.95	(0.99)	2.29	(1.52)	6.34
SPPP	1.59	0.14	0.03	(2.44)	2.75	(1.49)	2.96	(4.24)	14.90
PRCNX	0.60	0.03	0.01	0.09	0.76	(0.60)	1.07	(1.43)	4.31
BUFSX	0.92	(0.05)	(0.02)	0.02	1.07	(0.99)	2.07	(1.53)	6.31
NML	0.66	(0.07)	0.00	(0.06)	0.00	0.00	1.17	(1.58)	5.32
HULEX	0.50	(0.02)	(0.06)	0.03	0.60	(0.53)	1.40	(0.94)	4.09
NMIAX	0.52	0.03	0.03	0.09	0.55	(0.60)	1.32	(0.60)	4.36
OMAH	0.41	(0.02)	(0.07)	0.04	0.50	(0.46)	1.08	(0.80)	2.96
MNHIX	0.50	(0.03)	(0.04)	0.03	0.67	(0.48)	1.26	(1.00)	3.74

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