Oppnhmr Rochester Correlations

Mutual Funds . USA . 
Fund . Oppnhmr Rochester Arizona
ORAZX Fund  USD 13.73  0.01  0.07%   
The current 90-days correlation between Oppnhmr Rochester Arizona and Oppenheimer Steelpath Mlp is 0.05 (i.e., Significant diversification). The correlation of Oppnhmr 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.

Oppnhmr Rochester Correlation With Market

Poor diversification

The correlation between Oppnhmr Rochester Arizona and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppnhmr Rochester Arizona 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 Oppnhmr Rochester Arizona. 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 nation.

Moving together with Oppnhmr Mutual Fund

  0.84OSCNX Oppenheimer Main StreetPairCorr
  0.68OSCIX Oppenheimer Intl SmallPairCorr
  0.85OSCYX Oppenheimer Main StreetPairCorr
  0.87OSIIX Oppenheimer Global StrtgcPairCorr
  0.85OSINX Oppenheimer Strat IncmPairCorr
  0.86OSIYX Oppenheimer StrategicPairCorr
  0.67OSMNX Oppenheimer Intl SmallPairCorr
  0.68OSMYX Oppenheimer Intl SmallPairCorr
  0.85OSPAX Oppenheimer Steelpath MlpPairCorr
  0.86OSPMX Oppenheimer Steelpath MlpPairCorr
  0.84OSPPX Oppenheimer Steelpath MlpPairCorr
  0.85OSPSX Oppenheimer Steelpath MlpPairCorr
  0.85OSSIX Oppenheimer Main StreetPairCorr
  0.84OCAYX Oppenheimer Roc CaPairCorr
  0.85MLPOX Oppenheimer Steelpath MlpPairCorr
  0.84MLPNX Oppenheimer Steelpath MlpPairCorr
  0.85MLPTX Oppenheimer Steelpath MlpPairCorr
  0.86MLPZX Oppenheimer Steelpath MlpPairCorr
  0.86ODINX Oppenheimer DiscoveryPairCorr
  0.9ODIYX Oppenheimer DiscoveryPairCorr
  0.96QMGIX Oppenheimer GlobalPairCorr
  0.96QMGRX Oppenheimer GlobalPairCorr
  0.96QMGYX Oppenheimer GlobalPairCorr
  0.98QMGAX Oppenheimer GlobalPairCorr
  0.96QMGCX Oppenheimer GlobalPairCorr
  0.76CGRNX Oppenheimer ValuePairCorr
  0.77CGRYX Oppenheimer DisciplinedPairCorr
  0.92OEGYX Oppenhmr Discovery MidPairCorr
  0.94OEGIX Oppenhmr Discovery MidPairCorr
  0.91OEGNX Oppenhmr Discovery MidPairCorr
  0.91OEMIX Ophmr Eml DbtPairCorr
  0.91OEMNX Ophmr Eml DbtPairCorr
  0.91OEMYX Ophmr Eml DbtPairCorr
  0.93QOPIX Oppenheimer FlexiblePairCorr
  0.93QOPNX Oppenheimer FlexiblePairCorr
  0.93QOPYX Oppenheimer FlexiblePairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Oppnhmr Mutual Fund performing well and Oppnhmr 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 Oppnhmr 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
OSCNX  0.88  0.18  0.18  0.14  0.78 
(0.97)
 1.63 
(1.64)
 11.22 
OSCIX  0.98  0.32  0.34  0.22  0.59 
(1.24)
 1.18 
(1.60)
 26.04 
OSCYX  0.88  0.18  0.17  0.13  0.80 
(0.96)
 1.54 
(1.63)
 10.78 
OSIIX  0.24 (0.01)(0.01)(0.06) 0.39 
(0.40)
 0.62 
(0.62)
 1.85 
OSINX  0.22 (0.01) 0.00 (0.11) 0.00 
 0.00 
 0.31 
(0.62)
 1.83 
OSIYX  0.23 (0.01)(0.01)(0.07) 0.37 
(0.37)
 0.31 
(0.61)
 1.84 
OSMNX  1.03  0.36  0.38  0.24  0.52 
(1.33)
 1.18 
(1.61)
 28.95 
OSMYX  0.98  0.32  0.34  0.22  0.59 
(1.24)
 1.19 
(1.61)
 26.20 
OSPAX  0.55  0.20  0.30  32.58  0.30 
(0.68)
 1.31 
(0.93)
 2.74 
OSPMX  0.55  0.19  0.29  4.67  0.26 
(0.71)
 1.29 
(0.71)
 2.61 

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