Oppenheimer Global Correlations

QMGYX Fund

USD 12.95 0.09 0.69%

The correlation of Oppenheimer Global 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 Global Correlation With Market

Poor diversification

The correlation between Oppenheimer Global Multi Asset and DJI is 0.74 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Global Multi Asset 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 Global Multi Asset. 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 interest.

Moving together with Oppenheimer Mutual Fund

0.83	OSCNX	Oppenheimer Main Street	Pair Corr
0.81	OSCIX	Oppenheimer Intl Small	Pair Corr
0.84	OSCYX	Oppenheimer Main Street	Pair Corr
0.9	OSIIX	Oppenheimer Global Strtgc	Pair Corr
0.87	OSINX	Oppenheimer Strat Incm	Pair Corr
0.88	OSIYX	Oppenheimer Strategic	Pair Corr
0.76	OSMNX	Oppenheimer Intl Small	Pair Corr
0.81	OSMYX	Oppenheimer Intl Small	Pair Corr
0.84	OSSIX	Oppenheimer Main Street	Pair Corr
0.88	OTCNX	Oppenheimer Cap Apprec	Pair Corr
0.88	OTCYX	Oppenheimer Capital	Pair Corr
0.85	ODINX	Oppenheimer Discovery	Pair Corr
0.85	ODIYX	Oppenheimer Discovery	Pair Corr
0.93	ODVNX	Oppenheimer Developing	Pair Corr
0.93	ODVYX	Oppenheimer Developing	Pair Corr
1.0	QMGIX	Oppenheimer Global	Pair Corr
0.95	QMGRX	Oppenheimer Global	Pair Corr
0.95	QMGAX	Oppenheimer Global	Pair Corr
1.0	QMGCX	Oppenheimer Global	Pair Corr
0.78	CGRNX	Oppenheimer Value	Pair Corr
0.78	CGRYX	Oppenheimer Disciplined	Pair Corr
0.73	OEGYX	Oppenhmr Discovery Mid	Pair Corr
0.72	OEGIX	Oppenhmr Discovery Mid	Pair Corr
0.73	OEGNX	Oppenhmr Discovery Mid	Pair Corr
0.84	OEMIX	Ophmr Eml Dbt	Pair Corr
0.83	OEMNX	Ophmr Eml Dbt	Pair Corr
0.83	OEMYX	Ophmr Eml Dbt	Pair Corr

Moving against Oppenheimer Mutual Fund

0.43

OCAYX

Oppenheimer Roc Ca

Pair Corr

Related Correlations Analysis

	PBMXX	ICAXX	PFCXX	AEYXX	SMAAX	FZDXX
PBMXX		0.0	0.0	0.0	0.0	0.0	PBMXX
ICAXX	0.0		0.0	0.0	0.0	0.0	ICAXX
PFCXX	0.0	0.0		0.0	0.0	0.0	PFCXX
AEYXX	0.0	0.0	0.0		0.0	0.0	AEYXX
SMAAX	0.0	0.0	0.0	0.0		0.0	SMAAX
FZDXX	0.0	0.0	0.0	0.0	0.0		FZDXX
	PBMXX	ICAXX	PFCXX	AEYXX	SMAAX	FZDXX

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

ICAXX	+ 0.0	PBMXX
PFCXX	+ 0.0	PBMXX
AEYXX	+ 0.0	PBMXX
SMAAX	+ 0.0	PBMXX
FZDXX	+ 0.0	PBMXX
PFCXX	+ 0.0	ICAXX

High negative correlations

FZDXX	- 0.0	SMAAX
FZDXX	- 0.0	AEYXX
SMAAX	- 0.0	AEYXX
FZDXX	- 0.0	PFCXX
SMAAX	- 0.0	PFCXX
AEYXX	- 0.0	PFCXX

Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Global 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 Global'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PBMXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
ICAXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PFCXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
AEYXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SMAAX	0.08	0.02	(0.74)	3.97	(0.14)	0.20	(0.10)	0.40
FZDXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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