Oakmark Select Correlations

OANLX Fund

USD 84.69 0.18 0.21%

The current 90-days correlation between Oakmark Select and Aqr Long Short Equity is 0.54 (i.e., Very weak diversification). The correlation of Oakmark Select 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.

Oakmark Select Correlation With Market

Very poor diversification

The correlation between Oakmark Select Fund and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oakmark Select 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 Oakmark Select 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 bureau of economic analysis.

Moving together with Oakmark Mutual Fund

0.99	OAYMX	Oakmark Fund Advisor	Pair Corr
1.0	OAYLX	Oakmark Select	Pair Corr
0.97	OAZBX	Oakmark Equity And	Pair Corr
0.97	OAYBX	Oakmark Equity And	Pair Corr
0.99	OAZMX	Oakmark Fund R6	Pair Corr
1.0	OAZLX	Oakmark Select	Pair Corr
0.97	OAKBX	Oakmark Equity And	Pair Corr
0.99	OAKMX	Oakmark Fund Investor	Pair Corr
1.0	OAKLX	Oakmark Select	Pair Corr
0.97	OANBX	Oakmark Equity And	Pair Corr
0.99	OANMX	Oakmark Fund Institu	Pair Corr
0.86	VVIAX	Vanguard Value Index	Pair Corr
0.95	DOXGX	Dodge Cox Stock	Pair Corr
0.72	AFMFX	American Mutual	Pair Corr
0.72	FFMMX	American Funds American	Pair Corr
0.72	FFFMX	American Funds American	Pair Corr
0.72	AMRMX	American Mutual	Pair Corr
0.71	AMFFX	American Mutual	Pair Corr
0.7	AMFCX	American Mutual	Pair Corr

Moving against Oakmark Mutual Fund

0.76	OAZCX	Oakmark Bond	Pair Corr
0.76	OAYCX	Oakmark Bond	Pair Corr
0.76	OAKCX	Harris Associates	Pair Corr
0.76	OAKEX	Oakmark International	Pair Corr
0.75	OAZEX	Oakmark International	Pair Corr
0.75	OAYEX	Oakmark International	Pair Corr
0.75	OANEX	Oakmark International	Pair Corr
0.66	OAYIX	Oakmark International	Pair Corr
0.66	OAZIX	Oakmark International	Pair Corr
0.66	OAKIX	Oakmark International	Pair Corr
0.76	OANCX	Oakmark Bond	Pair Corr
0.66	OANIX	Oakmark International	Pair Corr
0.47	VTISX	Vanguard Total Inter	Pair Corr
0.47	VTSNX	Vanguard Total Inter	Pair Corr
0.47	VTPSX	Vanguard Total Inter	Pair Corr

Related Correlations Analysis

	QLENX	POEIX	REMVX	DBELX	AMTOX	SPMIX	QNZIX
QLENX		0.05	-0.28	-0.69	0.16	0.89	0.79	QLENX
POEIX	0.05		0.93	0.17	0.89	0.35	0.4	POEIX
REMVX	-0.28	0.93		0.45	0.81	0.02	0.12	REMVX
DBELX	-0.69	0.17	0.45		0.29	-0.56	-0.31	DBELX
AMTOX	0.16	0.89	0.81	0.29		0.46	0.58	AMTOX
SPMIX	0.89	0.35	0.02	-0.56	0.46		0.88	SPMIX
QNZIX	0.79	0.4	0.12	-0.31	0.58	0.88		QNZIX
	QLENX	POEIX	REMVX	DBELX	AMTOX	SPMIX	QNZIX

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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

REMVX	+ 0.93	POEIX
SPMIX	+ 0.89	QLENX
AMTOX	+ 0.89	POEIX
QNZIX	+ 0.88	SPMIX
AMTOX	+ 0.81	REMVX
QNZIX	+ 0.79	QLENX

High negative correlations

DBELX	- 0.69	QLENX
SPMIX	- 0.56	DBELX
QNZIX	- 0.31	DBELX
REMVX	- 0.28	QLENX

Risk-Adjusted Indicators

There is a big difference between Oakmark Mutual Fund performing well and Oakmark Select 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 Oakmark Select'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
QLENX	0.32	0.04	(0.09)	0.24	0.22	(0.39)	0.76	(0.57)	2.17
POEIX	0.77	(0.06)	(0.11)	0.00	0.94	(0.86)	1.54	(1.82)	5.70
REMVX	0.85	(0.08)	0.00	(0.10)	0.00	0.00	1.74	(2.04)	6.85
DBELX	0.32	(0.06)	0.00	(1.50)	0.00	0.00	0.56	(0.67)	1.87
AMTOX	0.46	(0.02)	(0.14)	0.05	0.57	(0.54)	1.00	(1.08)	2.38
SPMIX	0.71	0.00	0.02	0.11	0.66	(0.74)	1.67	(1.19)	5.24
QNZIX	0.59	(0.02)	(0.06)	0.09	0.71	(0.61)	1.06	(1.07)	3.72

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