Oppenheimer Rochester Correlations

OPAMX Fund

USD 11.48 0.03 0.26%

The current 90-days correlation between Oppenheimer Rochester and Ashmore Emerging Markets is -0.07 (i.e., Good diversification). The correlation of Oppenheimer Rochester 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 Rochester Correlation With Market

Poor diversification

The correlation between Oppenheimer Rochester Mn and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Rochester Mn 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 Oppenheimer Rochester Mn. 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 industry.

Moving together with Oppenheimer Mutual Fund

0.65	VMICX	Invesco Municipal Income	Pair Corr
0.79	VMINX	Invesco Municipal Income	Pair Corr
0.77	VMIIX	Invesco Municipal Income	Pair Corr
0.61	OARDX	Oppenheimer Rising	Pair Corr
0.83	AMHYX	Invesco High Yield	Pair Corr
0.7	OSICX	Oppenheimer Strategic	Pair Corr
0.61	OSMAX	Oppenheimer International	Pair Corr
0.8	HYIFX	Invesco High Yield	Pair Corr
0.8	HYINX	Invesco High Yield	Pair Corr
0.73	ILAAX	Invesco Income Allocation	Pair Corr
0.72	BRCRX	Invesco Balanced Risk	Pair Corr
0.65	OTFCX	Oppenheimer Target	Pair Corr
0.73	PXMQX	Invesco Select Risk	Pair Corr
0.72	PXQIX	Invesco Select Risk	Pair Corr
0.72	OCAIX	Oppenheimer Aggrssv	Pair Corr
0.71	MLPRX	Oppenheimer Steelpath Mlp	Pair Corr
0.76	STBYX	Invesco Short Term	Pair Corr
0.69	MLPDX	Oppenheimer Steelpath Mlp	Pair Corr
0.67	MLPGX	Oppenheimer Steelpath Mlp	Pair Corr
0.67	MLPFX	Oppenheimer Steelpath Mlp	Pair Corr
0.67	MLPEX	Steelpath Select	Pair Corr
0.68	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.66	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr
0.73	OCMIX	Oppenheimer Moderate	Pair Corr
0.87	STMUX	Invesco Short Term	Pair Corr
0.73	ODIIX	Oppenheimer Discovery	Pair Corr
0.64	SCRUX	Invesco Low Volatility	Pair Corr
0.63	ODMAX	Oppenheimer Developing	Pair Corr
0.72	FSTEX	Invesco Energy	Pair Corr
0.74	PIFFX	Invesco Multi Asset	Pair Corr
0.67	FTCHX	Invesco Technology	Pair Corr
0.65	CGRWX	Oppenheimer Value	Pair Corr
0.63	CGRCX	Oppenheimer Value	Pair Corr
0.64	OEGCX	Oppenheimer Discovery Mid	Pair Corr
0.66	IOGYX	Invesco Gold Special	Pair Corr
0.74	PIYFX	Invesco Multi Asset	Pair Corr

Moving against Oppenheimer Mutual Fund

0.45	ODVCX	Oppenheimer Developing	Pair Corr
0.41	ODVIX	Oppenheimer Developing	Pair Corr

Related Correlations Analysis

	PCEXX	PLMPX	JHMXX	EMDQX	TEIMX	FRQXX	ELBIX
PCEXX		0.0	0.0	0.0	0.0	0.0	0.0	PCEXX
PLMPX	0.0		0.0	0.98	0.99	0.0	0.99	PLMPX
JHMXX	0.0	0.0		0.0	0.0	0.0	0.0	JHMXX
EMDQX	0.0	0.98	0.0		0.99	0.0	0.99	EMDQX
TEIMX	0.0	0.99	0.0	0.99		0.0	0.99	TEIMX
FRQXX	0.0	0.0	0.0	0.0	0.0		0.0	FRQXX
ELBIX	0.0	0.99	0.0	0.99	0.99	0.0		ELBIX
	PCEXX	PLMPX	JHMXX	EMDQX	TEIMX	FRQXX	ELBIX

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

TEIMX	+ 0.99	PLMPX
ELBIX	+ 0.99	PLMPX
TEIMX	+ 0.99	EMDQX
ELBIX	+ 0.99	EMDQX
ELBIX	+ 0.99	TEIMX
EMDQX	+ 0.98	PLMPX

High negative correlations

ELBIX	- 0.0	FRQXX
FRQXX	- 0.0	TEIMX
FRQXX	- 0.0	EMDQX
ELBIX	- 0.0	JHMXX
FRQXX	- 0.0	JHMXX
TEIMX	- 0.0	JHMXX

Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Rochester 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 Rochester'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
PCEXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PLMPX	0.19	0.06	(0.06)	1.13	0.00	(0.26)	0.52	(0.38)	1.16
JHMXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EMDQX	0.23	0.04	(0.08)	0.44	0.07	(0.30)	0.41	(0.40)	1.78
TEIMX	0.24	0.05	(0.05)	0.55	0.00	(0.32)	0.58	(0.39)	1.74
FRQXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ELBIX	0.22	0.06	(0.03)	0.72	0.10	(0.27)	0.44	(0.41)	2.07

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