Short Oil Correlations

SNPIX Fund

USD 14.16 0.10 0.70%

The current 90-days correlation between Short Oil Gas and Siit Large Cap is -0.83 (i.e., Pay attention - limited upside). The correlation of Short Oil 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.

Short Oil Correlation With Market

Pay attention - limited upside

The correlation between Short Oil Gas and DJI is -0.77 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Short Oil Gas and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Short Oil Gas. 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 Short Mutual Fund

0.63	SRPIX	Short Real Estate	Pair Corr
1.0	SNPSX	Short Oil Gas	Pair Corr

Moving against Short Mutual Fund

0.87	RYMJX	Commodities Strategy	Pair Corr
0.77	RYMEX	Commodities Strategy	Pair Corr
0.77	RYMBX	Commodities Strategy	Pair Corr
0.72	BRUFX	Bruce Fund Bruce	Pair Corr
0.65	LDMYX	Lord Abbett Emerging	Pair Corr
0.63	BIPIX	Biotechnology Ultrasector	Pair Corr
0.62	PGHCX	Virtus High Yield	Pair Corr
0.59	REPIX	Real Estate Ultrasector Potential Growth	Pair Corr
0.53	FYAIX	Access Flex High	Pair Corr
0.5	TEPIX	Technology Ultrasector	Pair Corr
0.45	SPGSX	State Street Premier	Pair Corr
0.44	SMPIX	Semiconductor Ultrasector	Pair Corr
0.42	KF	Korea Closed	Pair Corr
0.4	PYABX	Payden Absolute Return	Pair Corr
0.35	HCPIX	Health Care Ultrasector	Pair Corr
0.6	GCSUX	Goldman Sachs Small	Pair Corr
0.59	DFSTX	Us Small Cap	Pair Corr
0.59	SCRZX	Small Cap Core	Pair Corr
0.58	DIAMX	Diamond Hill Long	Pair Corr
0.53	IIFAX	Vy Franklin Income	Pair Corr
0.52	EXBAX	Pro-blend(r) Moderate	Pair Corr
0.51	QUAIX	Ab Small Cap	Pair Corr
0.51	WMGAX	Ivy Mid Cap	Pair Corr
0.51	URHIX	High Income Fund	Pair Corr
0.5	MNNAX	Victory Munder Multi	Pair Corr
0.5	REITX	American Funds 2050	Pair Corr
0.48	CYPSX	Consumer Services	Pair Corr
0.48	FCNTX	Fidelity Contrafund	Pair Corr
0.46	IMORX	Voya Midcap Opportunities	Pair Corr
0.45	INPIX	Internet Ultrasector	Pair Corr
0.32	TPCIX	Timothy Israel Mon Steady Growth	Pair Corr

Related Correlations Analysis

	LCIAX	PIGDX	WPASX	OPTCX	OWLSX	PAGLX	BBHLX
LCIAX		0.93	0.93	0.69	0.95	1.0	0.94	LCIAX
PIGDX	0.93		0.97	0.62	0.98	0.95	0.97	PIGDX
WPASX	0.93	0.97		0.56	0.98	0.94	0.92	WPASX
OPTCX	0.69	0.62	0.56		0.67	0.65	0.63	OPTCX
OWLSX	0.95	0.98	0.98	0.67		0.96	0.94	OWLSX
PAGLX	1.0	0.95	0.94	0.65	0.96		0.96	PAGLX
BBHLX	0.94	0.97	0.92	0.63	0.94	0.96		BBHLX
	LCIAX	PIGDX	WPASX	OPTCX	OWLSX	PAGLX	BBHLX

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Risk-Adjusted Indicators

There is a big difference between Short Mutual Fund performing well and Short Oil 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 Short Oil'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
LCIAX	1.07	0.05	0.03	0.13	1.69	(0.99)	2.07	(2.36)	13.06
PIGDX	0.83	0.15	0.04	(14.09)	1.38	(0.92)	1.96	(1.99)	7.28
WPASX	1.07	0.14	0.03	(1.08)	1.59	(1.11)	2.31	(2.42)	11.63
OPTCX	0.13	0.03	(0.11)	0.80	0.00	(0.27)	0.41	(0.31)	1.44
OWLSX	0.82	0.14	0.03	(2.94)	1.42	(0.82)	1.59	(1.65)	10.33
PAGLX	0.87	0.04	0.02	0.12	1.51	(0.80)	1.73	(1.72)	10.25
BBHLX	0.78	0.09	0.05	0.22	1.11	(0.84)	1.86	(1.21)	6.97

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