Oppenhmr Discovery Correlations

Mutual Funds USA . 
Fund . Oppenhmr Discovery Mid
OEGYX Fund  USD 35.26  0.30  0.86%   
The current 90-days correlation between Oppenhmr Discovery Mid and Oppenheimer Main Street is -0.18 (i.e., Good diversification). The correlation of Oppenhmr Discovery 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.

Oppenhmr Discovery Correlation With Market

Good diversification

The correlation between Oppenhmr Discovery Mid and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenhmr Discovery Mid 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 Oppenhmr Discovery Mid. 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 services.

Moving together with Oppenhmr Mutual Fund

  0.67OSCNX Oppenheimer Main StreetPairCorr
  0.74OSCIX Oppenheimer Intl SmallPairCorr
  0.68OSCYX Oppenheimer Main StreetPairCorr
  0.84OSIIX Oppenheimer Global StrtgcPairCorr
  0.79OSINX Oppenheimer Strat IncmPairCorr
  0.82OSIYX Oppenheimer StrategicPairCorr
  0.77OSMNX Oppenheimer Intl SmallPairCorr
  0.74OSMYX Oppenheimer Intl SmallPairCorr
  0.68OSSIX Oppenheimer Main StreetPairCorr
  0.89OTCNX Oppenheimer Cap ApprecPairCorr
  0.89OTCYX Oppenheimer CapitalPairCorr
  0.87ODINX Oppenheimer DiscoveryPairCorr
  0.88ODIYX Oppenheimer DiscoveryPairCorr
  0.79ODVNX Oppenheimer DevelopingPairCorr
  0.79ODVYX Oppenheimer DevelopingPairCorr
  0.73QMGIX Oppenheimer GlobalPairCorr
  0.73QMGRX Oppenheimer GlobalPairCorr
  0.75QMGYX Oppenheimer GlobalPairCorr
  0.75QMGAX Oppenheimer GlobalPairCorr
  0.72QMGCX Oppenheimer GlobalPairCorr
  0.77CGRNX Oppenheimer ValuePairCorr
  0.78CGRYX Oppenheimer DisciplinedPairCorr
  0.93OEGIX Oppenhmr Discovery MidPairCorr
  1.0OEGNX Oppenhmr Discovery MidPairCorr
  0.82OEMIX Ophmr Eml DbtPairCorr
  0.81OEMNX Ophmr Eml DbtPairCorr
  0.81OEMYX Ophmr Eml DbtPairCorr

Moving against Oppenhmr Mutual Fund

  0.35OCAYX Oppenheimer Roc CaPairCorr
  0.44QOPNX Oppenheimer FlexiblePairCorr
  0.4QOPYX Oppenheimer FlexiblePairCorr
  0.38QOPIX Oppenheimer FlexiblePairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Oppenhmr Mutual Fund performing well and Oppenhmr Discovery 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 Oppenhmr Discovery'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
OSCNX  0.74 (0.01) 0.02  0.10  0.74 
(0.82)
 1.44 
(1.45)
 4.32 
OSCIX  0.57 (0.03)(0.09) 0.06  0.67 
(0.60)
 1.38 
(1.20)
 2.87 
OSCYX  0.74 (0.01) 0.02  0.10  0.72 
(0.81)
 1.42 
(1.47)
 4.33 
OSIIX  0.30  0.04 (0.17) 0.73  0.14 
(0.48)
 0.63 
(0.62)
 1.56 
OSINX  0.32  0.04 (0.15) 1.25  0.18 
(0.48)
 0.64 
(0.62)
 1.86 
OSIYX  0.27  0.04 (0.19) 1.84  0.07 
(0.42)
 0.63 
(0.32)
 1.55 
OSMNX  0.58  0.05 (0.09)(1.38) 0.67 
(0.60)
 1.40 
(1.18)
 2.84 
OSMYX  0.58 (0.04)(0.09) 0.06  0.66 
(0.60)
 1.39 
(1.19)
 2.86 
OSPAX  0.53  0.01 (0.11) 0.15  0.69 
(0.52)
 0.99 
(1.08)
 3.37 
OSPMX  0.53  0.00 (0.13) 0.09  0.60 
(0.58)
 0.92 
(0.91)
 2.75 

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