Oppenheimer Roc Correlations

ORNCX Fund

USD 6.59 0.01 0.15%

The current 90-days correlation between Oppenheimer Roc High and Vanguard Intermediate Term Government is -0.34 (i.e., Very good diversification). The correlation of Oppenheimer Roc 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 Roc Correlation With Market

Very weak diversification

The correlation between Oppenheimer Roc High and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Roc High 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 Roc High. 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 Oppenheimer Mutual Fund

0.81	VMICX	Invesco Municipal Income	Pair Corr
0.88	VMINX	Invesco Municipal Income	Pair Corr
0.86	VMIIX	Invesco Municipal Income	Pair Corr
0.69	AMHYX	Invesco High Yield	Pair Corr
0.61	OSICX	Oppenheimer Strategic	Pair Corr
0.65	HYIFX	Invesco High Yield	Pair Corr
0.61	HYINX	Invesco High Yield	Pair Corr
0.61	ILAAX	Invesco Income Allocation	Pair Corr
0.88	OCACX	Oppenheimer Roc Ca	Pair Corr
0.63	STBCX	Invesco Short Term	Pair Corr
0.68	MLPRX	Oppenheimer Steelpath Mlp	Pair Corr
0.68	STBYX	Invesco Short Term	Pair Corr
0.66	STBRX	Invesco Short Term	Pair Corr
0.68	MLPDX	Oppenheimer Steelpath Mlp	Pair Corr
0.64	MLPAX	Oppenheimer Steelpath Mlp	Pair Corr
0.65	MLPGX	Oppenheimer Steelpath Mlp	Pair Corr
0.64	MLPFX	Oppenheimer Steelpath Mlp	Pair Corr
0.64	MLPEX	Steelpath Select	Pair Corr
0.66	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.64	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr

Related Correlations Analysis

	FITSX	SMAAX	USGCX	RGVCX	RYAQX	SSAGX	VIIGX
FITSX		0.84	0.43	0.84	0.5	0.86	0.28	FITSX
SMAAX	0.84		0.0	0.6	0.73	0.9	0.01	SMAAX
USGCX	0.43	0.0		0.67	-0.34	0.08	0.65	USGCX
RGVCX	0.84	0.6	0.67		0.35	0.68	0.51	RGVCX
RYAQX	0.5	0.73	-0.34	0.35		0.84	0.03	RYAQX
SSAGX	0.86	0.9	0.08	0.68	0.84		0.19	SSAGX
VIIGX	0.28	0.01	0.65	0.51	0.03	0.19		VIIGX
	FITSX	SMAAX	USGCX	RGVCX	RYAQX	SSAGX	VIIGX

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

SSAGX	+ 0.9	SMAAX
SSAGX	+ 0.86	FITSX
SMAAX	+ 0.84	FITSX
RGVCX	+ 0.84	FITSX
SSAGX	+ 0.84	RYAQX
RYAQX	+ 0.73	SMAAX

High negative correlations

RYAQX	- 0.34	USGCX
USGCX	- 0.0	SMAAX

Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Roc 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 Roc'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
FITSX	0.15	0.00	(0.42)	0.09	0.08	(0.21)	0.33	(0.22)	0.77
SMAAX	0.07	0.02	(0.60)	3.58	0.00	(0.13)	0.20	(0.10)	0.48
USGCX	0.29	(0.01)	(0.20)	0.01	0.34	(0.34)	0.57	(0.57)	1.84
RGVCX	0.13	0.00	(0.49)	0.05	0.09	(0.15)	0.25	(0.25)	0.66
RYAQX	0.40	0.05	(0.12)	(0.24)	0.37	(0.44)	0.98	(0.62)	2.27
SSAGX	0.04	0.00	0.00	0.77	0.00	0.00	0.10	(0.10)	0.50
VIIGX	0.13	0.00	(0.51)	0.29	0.12	(0.16)	0.24	(0.24)	0.84

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