Oppenheimer Target Correlations

OTFCX Fund

USD 37.66 0.43 1.13%

The current 90-days correlation between Oppenheimer Target and Pace Large Growth is 0.01 (i.e., Significant diversification). The correlation of Oppenheimer Target 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 Target Correlation With Market

Significant diversification

The correlation between Oppenheimer Target and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Target 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 Target. 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 unemployment.

Moving together with Oppenheimer Mutual Fund

0.67	OARDX	Oppenheimer Rising	Pair Corr
0.8	OSMAX	Oppenheimer International	Pair Corr
0.77	OSMCX	Oppenheimer International	Pair Corr
0.85	BRCNX	Invesco Balanced Risk	Pair Corr
0.85	BRCAX	Invesco Balanced Risk	Pair Corr
0.65	OCCIX	Oppenheimer Cnsrvtv	Pair Corr
0.65	STBCX	Invesco Short Term	Pair Corr
0.69	OCMIX	Oppenheimer Moderate	Pair Corr
0.76	FSIUX	Invesco Dividend Income	Pair Corr
0.99	ODICX	Oppenheimer Discovery	Pair Corr
0.92	ODIIX	Oppenheimer Discovery	Pair Corr
0.65	SCRUX	Invesco Low Volatility	Pair Corr
0.79	CGRWX	Oppenheimer Value	Pair Corr
0.77	CGRCX	Oppenheimer Value	Pair Corr
0.71	PIRFX	Invesco Multi Asset	Pair Corr
0.95	FTPIX	Invesco Technology	Pair Corr
0.95	FTPSX	Invesco Technology	Pair Corr
0.71	PIYFX	Invesco Multi Asset	Pair Corr

Moving against Oppenheimer Mutual Fund

0.67	DIGGX	Invesco Discovery	Pair Corr
0.62	PXMMX	Invesco Select Risk	Pair Corr
0.57	PXMSX	Invesco Select Risk	Pair Corr
0.56	PXMQX	Invesco Select Risk	Pair Corr
0.53	PXQIX	Invesco Select Risk	Pair Corr
0.52	PXGGX	Invesco Select Risk	Pair Corr
0.33	VMICX	Invesco Municipal Income	Pair Corr
0.74	ODVCX	Oppenheimer Developing	Pair Corr
0.66	IOAPX	Invesco Main Street	Pair Corr
0.61	ODVIX	Oppenheimer Developing	Pair Corr

Related Correlations Analysis

	PLAAX	SLWGX	GGRYX	AUERX	CIPMX	VCGAX
PLAAX		0.15	0.79	0.87	1.0	0.59	PLAAX
SLWGX	0.15		0.37	0.26	0.14	0.62	SLWGX
GGRYX	0.79	0.37		0.9	0.79	0.74	GGRYX
AUERX	0.87	0.26	0.9		0.88	0.69	AUERX
CIPMX	1.0	0.14	0.79	0.88		0.59	CIPMX
VCGAX	0.59	0.62	0.74	0.69	0.59		VCGAX
	PLAAX	SLWGX	GGRYX	AUERX	CIPMX	VCGAX

Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Target 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 Target'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
PLAAX	1.35	0.55	0.40	(1.79)	0.38	(1.60)	1.46	(1.72)	36.26
SLWGX	0.79	0.05	(0.01)	0.30	0.91	(0.92)	1.77	(1.78)	4.53
GGRYX	0.54	0.16	0.14	1.94	0.24	(0.69)	0.91	(0.89)	8.27
AUERX	0.98	0.30	0.23	1.82	0.62	(1.24)	2.00	(1.68)	12.63
CIPMX	1.06	0.41	0.44	(2.28)	0.00	(1.48)	1.68	(1.04)	22.87
VCGAX	0.53	0.02	(0.01)	0.12	0.69	(0.52)	1.30	(1.13)	2.97

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