Oppenheimer Main Correlations

OSCYX Fund  USD 22.79  0.13  0.57%   
The current 90-days correlation between Oppenheimer Main Street and Global Resources Fund is 0.09 (i.e., Significant diversification). The correlation of Oppenheimer Main 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 Main Correlation With Market

Good diversification

The correlation between Oppenheimer Main Street and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Main Street 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 Main Street. 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 manufacturing.

Moving together with Oppenheimer Mutual Fund

  1.0OSCNX Oppenheimer Main StreetPairCorr
  0.95OSCIX Oppenheimer Intl SmallPairCorr
  0.83OSIIX Oppenheimer Global StrtgcPairCorr
  0.78OSINX Oppenheimer Strat IncmPairCorr
  0.81OSIYX Oppenheimer StrategicPairCorr
  0.96OSMNX Oppenheimer Intl SmallPairCorr
  0.95OSMYX Oppenheimer Intl SmallPairCorr
  0.68OSPAX Oppenheimer Steelpath MlpPairCorr
  0.73OSPMX Oppenheimer Steelpath MlpPairCorr
  0.61OSPPX Oppenheimer Steelpath MlpPairCorr
  0.73OSPSX Oppenheimer Steelpath MlpPairCorr
  0.97OSSIX Oppenheimer Main StreetPairCorr
  0.96OTCNX Oppenheimer Cap ApprecPairCorr
  0.96OTCYX Oppenheimer CapitalPairCorr
  0.68MLPOX Oppenheimer Steelpath MlpPairCorr
  0.61MLPNX Oppenheimer Steelpath MlpPairCorr
  0.78MLPTX Oppenheimer Steelpath MlpPairCorr
  0.77MLPZX Oppenheimer Steelpath MlpPairCorr
  0.96ODINX Oppenheimer DiscoveryPairCorr
  0.96ODIYX Oppenheimer DiscoveryPairCorr
  0.97ODVNX Oppenheimer DevelopingPairCorr
  0.95ODVYX Oppenheimer DevelopingPairCorr
  0.95QMGIX Oppenheimer GlobalPairCorr
  0.95QMGRX Oppenheimer GlobalPairCorr
  0.95QMGYX Oppenheimer GlobalPairCorr
  0.96QMGAX Oppenheimer GlobalPairCorr
  0.96QMGCX Oppenheimer GlobalPairCorr
  0.95CGRNX Oppenheimer ValuePairCorr
  0.95CGRYX Oppenheimer DisciplinedPairCorr
  0.95OEGYX Oppenhmr Discovery MidPairCorr
  0.95OEGIX Oppenhmr Discovery MidPairCorr
  0.95OEGNX Oppenhmr Discovery MidPairCorr
  0.86OEMIX Ophmr Eml DbtPairCorr
  0.86OEMNX Ophmr Eml DbtPairCorr
  0.85OEMYX Ophmr Eml DbtPairCorr

Moving against Oppenheimer Mutual Fund

  0.69QOPNX Oppenheimer FlexiblePairCorr
  0.67QOPYX Oppenheimer FlexiblePairCorr
  0.66QOPIX Oppenheimer FlexiblePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Main 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 Main'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.