Correlation Between Oppenheimer Main and Oppenheimer Flexible
Can any of the company-specific risk be diversified away by investing in both Oppenheimer Main and Oppenheimer Flexible at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Oppenheimer Main and Oppenheimer Flexible into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Oppenheimer Main Street and Oppenheimer Flexible Strategies, you can compare the effects of market volatilities on Oppenheimer Main and Oppenheimer Flexible and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Oppenheimer Main with a short position of Oppenheimer Flexible. Check out your portfolio center. Please also check ongoing floating volatility patterns of Oppenheimer Main and Oppenheimer Flexible.
Diversification Opportunities for Oppenheimer Main and Oppenheimer Flexible
0.48 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Oppenheimer and Oppenheimer is 0.48. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Main Street and Oppenheimer Flexible Strategie in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Oppenheimer Flexible and Oppenheimer Main is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Oppenheimer Main Street are associated (or correlated) with Oppenheimer Flexible. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Oppenheimer Flexible has no effect on the direction of Oppenheimer Main i.e., Oppenheimer Main and Oppenheimer Flexible go up and down completely randomly.
Pair Corralation between Oppenheimer Main and Oppenheimer Flexible
Assuming the 90 days horizon Oppenheimer Main Street is expected to generate 3.66 times more return on investment than Oppenheimer Flexible. However, Oppenheimer Main is 3.66 times more volatile than Oppenheimer Flexible Strategies. It trades about 0.09 of its potential returns per unit of risk. Oppenheimer Flexible Strategies is currently generating about 0.0 per unit of risk. If you would invest 2,136 in Oppenheimer Main Street on June 12, 2025 and sell it today you would earn a total of 122.00 from holding Oppenheimer Main Street or generate 5.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Oppenheimer Main Street vs. Oppenheimer Flexible Strategie
Performance |
| Timeline |
| Oppenheimer Main Street |
| Oppenheimer Flexible |
Oppenheimer Main and Oppenheimer Flexible Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Oppenheimer Main and Oppenheimer Flexible
The main advantage of trading using opposite Oppenheimer Main and Oppenheimer Flexible positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Oppenheimer Main position performs unexpectedly, Oppenheimer Flexible can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Oppenheimer Flexible will offset losses from the drop in Oppenheimer Flexible's long position.| Oppenheimer Main vs. Six Circles Credit | Oppenheimer Main vs. Buffalo High Yield | Oppenheimer Main vs. Prudential High Yield | Oppenheimer Main vs. Transamerica High Yield |
| Oppenheimer Flexible vs. Foundry Partners Fundamental | Oppenheimer Flexible vs. Valic Company I | Oppenheimer Flexible vs. Vanguard Small Cap Value | Oppenheimer Flexible vs. Lsv Small Cap |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
Other Complementary Tools
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format |