Oppenheimer Flexible Correlations

QOPIX Fund

USD 24.82 0.01 0.04%

The current 90-days correlation between Oppenheimer Flexible and Oppenheimer Main Street is 0.32 (i.e., Weak diversification). The correlation of Oppenheimer Flexible 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 Flexible Correlation With Market

Weak diversification

The correlation between Oppenheimer Flexible Strategie and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Flexible Strategie 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 Flexible Strategies. 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 gross domestic product.

Moving together with Oppenheimer Mutual Fund

0.87	QOPNX	Oppenheimer Flexible	Pair Corr
1.0	QOPYX	Oppenheimer Flexible	Pair Corr

Moving against Oppenheimer Mutual Fund

0.31	OEGYX	Oppenhmr Discovery Mid	Pair Corr
0.31	OEGNX	Oppenhmr Discovery Mid	Pair Corr

Related Correlations Analysis

	OSCNX	OSCIX	OSCYX	OSIIX	OSINX	OSIYX	OSMNX	OSMYX	OSPAX
OSCNX		0.69	1.0	0.75	0.72	0.74	0.68	0.69	-0.09	OSCNX
OSCIX	0.69		0.69	0.79	0.73	0.71	0.85	1.0	-0.08	OSCIX
OSCYX	1.0	0.69		0.75	0.72	0.74	0.68	0.69	-0.09	OSCYX
OSIIX	0.75	0.79	0.75		0.98	0.92	0.71	0.79	-0.11	OSIIX
OSINX	0.72	0.73	0.72	0.98		0.9	0.64	0.73	-0.1	OSINX
OSIYX	0.74	0.71	0.74	0.92	0.9		0.77	0.7	-0.09	OSIYX
OSMNX	0.68	0.85	0.68	0.71	0.64	0.77		0.85	-0.02	OSMNX
OSMYX	0.69	1.0	0.69	0.79	0.73	0.7	0.85		-0.08	OSMYX
OSPAX	-0.09	-0.08	-0.09	-0.11	-0.1	-0.09	-0.02	-0.08		OSPAX
	OSCNX	OSCIX	OSCYX	OSIIX	OSINX	OSIYX	OSMNX	OSMYX	OSPAX

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

OSCYX	+ 1.0	OSCNX
OSMYX	+ 1.0	OSCIX
OSINX	+ 0.98	OSIIX
OSIYX	+ 0.92	OSIIX
OSIYX	+ 0.9	OSINX
OSMNX	+ 0.85	OSCIX

High negative correlations

OSPAX	- 0.11	OSIIX
OSPAX	- 0.1	OSINX
OSPAX	- 0.09	OSIYX
OSPAX	- 0.09	OSCYX
OSPAX	- 0.09	OSCNX
OSPAX	- 0.08	OSMYX

Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Flexible 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 Flexible'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
OSCNX	0.75	(0.01)	0.02	0.09	0.77	(0.83)	1.44	(1.45)	4.32
OSCIX	0.59	(0.05)	(0.09)	0.04	0.73	(0.60)	1.38	(1.26)	3.10
OSCYX	0.75	0.00	0.02	0.09	0.76	(0.83)	1.42	(1.47)	4.33
OSIIX	0.29	0.01	(0.15)	0.14	0.19	(0.46)	0.63	(0.62)	1.56
OSINX	0.30	0.00	(0.16)	0.10	0.24	(0.46)	0.63	(0.62)	1.86
OSIYX	0.26	0.03	(0.16)	1.12	0.14	(0.42)	0.63	(0.32)	1.55
OSMNX	0.59	0.02	(0.10)	5.12	0.72	(0.60)	1.40	(1.27)	2.84
OSMYX	0.60	(0.05)	(0.09)	0.04	0.74	(0.60)	1.39	(1.27)	3.10
OSPAX	0.52	(0.01)	(0.11)	0.06	0.69	(0.51)	0.99	(1.08)	3.37

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