Oakmark Select Correlations

Mutual Funds . USA . 
Fund . Oakmark Select Fund
OAYLX Fund  USD 84.54  0.17  0.20%   
The current 90-days correlation between Oakmark Select and Dodge Cox Stock is 0.91 (i.e., Almost no 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

  0.99OAYMX Oakmark Fund AdvisorPairCorr
  0.97OAZBX Oakmark Equity AndPairCorr
  0.97OAYBX Oakmark Equity AndPairCorr
  0.99OAZMX Oakmark Fund R6PairCorr
  1.0OAZLX Oakmark SelectPairCorr
  0.97OAKBX Oakmark Equity AndPairCorr
  0.99OAKMX Oakmark Fund InvestorPairCorr
  1.0OAKLX Oakmark SelectPairCorr
  0.97OANBX Oakmark Equity AndPairCorr
  0.99OANMX Oakmark Fund InstituPairCorr
  1.0OANLX Oakmark SelectPairCorr
  0.86VVIAX Vanguard Value IndexPairCorr
  0.95DOXGX Dodge Cox StockPairCorr
  0.72AFMFX American MutualPairCorr
  0.72FFMMX American Funds AmericanPairCorr
  0.72FFFMX American Funds AmericanPairCorr
  0.72AMRMX American MutualPairCorr
  0.71AMFFX American MutualPairCorr
  0.7AMFCX American MutualPairCorr

Moving against Oakmark Mutual Fund

  0.76OAZCX Oakmark BondPairCorr
  0.76OAYCX Oakmark BondPairCorr
  0.76OAKCX Harris AssociatesPairCorr
  0.76OAKEX Oakmark InternationalPairCorr
  0.75OAZEX Oakmark InternationalPairCorr
  0.75OAYEX Oakmark InternationalPairCorr
  0.75OANEX Oakmark InternationalPairCorr
  0.66OAYIX Oakmark InternationalPairCorr
  0.66OAZIX Oakmark InternationalPairCorr
  0.66OAKIX Oakmark InternationalPairCorr
  0.76OANCX Oakmark BondPairCorr
  0.66OANIX Oakmark InternationalPairCorr
  0.47VTISX Vanguard Total InterPairCorr
  0.47VTSNX Vanguard Total InterPairCorr
  0.47VTPSX Vanguard Total InterPairCorr

Related Correlations Analysis

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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.

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