Oppenheimer Value Correlations

CGRNX Fund

USD 32.27 0.23 0.71%

The current 90-days correlation between Oppenheimer Value and Allianzgi Convertible Income is -0.02 (i.e., Good diversification). The correlation of Oppenheimer Value 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.

Oppenheimer Value Correlation With Market

Almost no diversification

The correlation between Oppenheimer Value Fd and DJI is 0.93 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Value Fd and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Oppenheimer Value Fd. 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 board of governors.

Moving together with Oppenheimer Mutual Fund

0.94	OSCNX	Oppenheimer Main Street	Pair Corr
0.97	OSCIX	Oppenheimer Intl Small	Pair Corr
0.94	OSCYX	Oppenheimer Main Street	Pair Corr
0.91	OSIIX	Oppenheimer Global Strtgc	Pair Corr
0.89	OSINX	Oppenheimer Strat Incm	Pair Corr
0.9	OSIYX	Oppenheimer Strategic	Pair Corr
0.95	OSMNX	Oppenheimer Intl Small	Pair Corr
0.97	OSMYX	Oppenheimer Intl Small	Pair Corr
0.7	OSPAX	Oppenheimer Steelpath Mlp	Pair Corr
0.69	OSPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.63	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.71	OSPSX	Oppenheimer Steelpath Mlp	Pair Corr
0.97	OSSIX	Oppenheimer Main Street	Pair Corr
0.97	OTCNX	Oppenheimer Cap Apprec	Pair Corr
0.97	OTCYX	Oppenheimer Capital	Pair Corr
0.69	MLPOX	Oppenheimer Steelpath Mlp	Pair Corr
0.63	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.7	MLPTX	Oppenheimer Steelpath Mlp	Pair Corr
0.69	MLPZX	Oppenheimer Steelpath Mlp	Pair Corr
0.96	ODINX	Oppenheimer Discovery	Pair Corr
0.96	ODIYX	Oppenheimer Discovery	Pair Corr
0.97	ODVNX	Oppenheimer Developing	Pair Corr
0.97	ODVYX	Oppenheimer Developing	Pair Corr
0.96	QMGIX	Oppenheimer Global	Pair Corr
0.95	QMGRX	Oppenheimer Global	Pair Corr
0.94	QMGYX	Oppenheimer Global	Pair Corr
0.94	QMGAX	Oppenheimer Global	Pair Corr
0.95	QMGCX	Oppenheimer Global	Pair Corr
1.0	CGRYX	Oppenheimer Disciplined	Pair Corr
0.95	OEGYX	Oppenhmr Discovery Mid	Pair Corr
0.96	OEGIX	Oppenhmr Discovery Mid	Pair Corr
0.95	OEGNX	Oppenhmr Discovery Mid	Pair Corr
0.94	OEMIX	Ophmr Eml Dbt	Pair Corr
0.93	OEMNX	Ophmr Eml Dbt	Pair Corr
0.93	OEMYX	Ophmr Eml Dbt	Pair Corr

Moving against Oppenheimer Mutual Fund

0.76	QOPNX	Oppenheimer Flexible	Pair Corr
0.75	QOPYX	Oppenheimer Flexible	Pair Corr
0.74	QOPIX	Oppenheimer Flexible	Pair Corr

Related Correlations Analysis

	XNCVX	XAVKX	CCD	LCFYX	GCV	ARBOX	PBXIX
XNCVX		0.98	-0.25	0.99	0.98	0.99	0.9	XNCVX
XAVKX	0.98		-0.16	0.96	0.94	0.98	0.9	XAVKX
CCD	-0.25	-0.16		-0.25	-0.37	-0.22	0.12	CCD
LCFYX	0.99	0.96	-0.25		0.98	0.98	0.9	LCFYX
GCV	0.98	0.94	-0.37	0.98		0.96	0.83	GCV
ARBOX	0.99	0.98	-0.22	0.98	0.96		0.89	ARBOX
PBXIX	0.9	0.9	0.12	0.9	0.83	0.89		PBXIX
	XNCVX	XAVKX	CCD	LCFYX	GCV	ARBOX	PBXIX

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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

LCFYX	+ 0.99	XNCVX
ARBOX	+ 0.99	XNCVX
XAVKX	+ 0.98	XNCVX
GCV	+ 0.98	XNCVX
ARBOX	+ 0.98	XAVKX
GCV	+ 0.98	LCFYX

High negative correlations

GCV	- 0.37	CCD
LCFYX	- 0.25	CCD
CCD	- 0.25	XNCVX
ARBOX	- 0.22	CCD
CCD	- 0.16	XAVKX

Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Value 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 Oppenheimer Value'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
XNCVX	0.46	0.25	0.07	(5.79)	0.00	(0.65)	1.33	(0.78)	3.12
XAVKX	0.54	0.25	0.02	(1.51)	0.36	(0.63)	1.65	(1.32)	4.13
CCD	0.61	(0.03)	(0.16)	0.13	0.80	(0.64)	1.32	(1.03)	4.97
LCFYX	0.41	0.13	0.02	0.52	0.00	(0.52)	1.19	(0.53)	2.40
GCV	0.59	0.24	0.09	1.39	0.13	(0.81)	1.70	(0.87)	3.77
ARBOX	0.06	0.03	(1.85)	9.89	0.00	(0.12)	0.18	(0.09)	0.35
PBXIX	0.34	0.00	(0.22)	0.20	0.26	(0.44)	0.83	(0.54)	2.63

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