Oppenhmr Discovery Correlations

OEGYX Fund

USD 37.67 0.09 0.24%

The current 90-days correlation between Oppenhmr Discovery Mid and Siit Ultra Short is -0.11 (i.e., Good diversification). The correlation of Oppenhmr Discovery 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.

Oppenhmr Discovery Correlation With Market

Average diversification

The correlation between Oppenhmr Discovery Mid and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenhmr Discovery Mid 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 Oppenhmr Discovery Mid. 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 Oppenhmr Mutual Fund

0.91	OSCNX	Oppenheimer Main Street	Pair Corr
0.87	OSCYX	Oppenheimer Main Street	Pair Corr
0.91	OSPAX	Oppenheimer Steelpath Mlp	Pair Corr
0.83	OSPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.89	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.92	OSPSX	Oppenheimer Steelpath Mlp	Pair Corr
0.91	OSSIX	Oppenheimer Main Street	Pair Corr
0.97	OTCNX	Oppenheimer Cap Apprec	Pair Corr
0.94	OTCYX	Oppenheimer Capital	Pair Corr
0.91	MLPOX	Oppenheimer Steelpath Mlp	Pair Corr
0.89	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.92	MLPTX	Oppenheimer Steelpath Mlp	Pair Corr
0.79	MLPZX	Oppenheimer Steelpath Mlp	Pair Corr
0.98	ODINX	Oppenheimer Discovery	Pair Corr
0.98	ODIYX	Oppenheimer Discovery	Pair Corr
0.94	CGRNX	Oppenheimer Value	Pair Corr
0.94	CGRYX	Oppenheimer Disciplined	Pair Corr
0.98	OEGIX	Oppenhmr Discovery Mid	Pair Corr
1.0	OEGNX	Oppenhmr Discovery Mid	Pair Corr
0.94	QOPIX	Oppenheimer Flexible	Pair Corr

Moving against Oppenhmr Mutual Fund

0.73	OSCIX	Oppenheimer Intl Small	Pair Corr
0.73	OSMNX	Oppenheimer Intl Small	Pair Corr
0.73	OSMYX	Oppenheimer Intl Small	Pair Corr
0.52	OSIIX	Oppenheimer Global Strtgc	Pair Corr
0.52	OSIYX	Oppenheimer Strategic	Pair Corr
0.49	OSINX	Oppenheimer Strat Incm	Pair Corr
0.62	OEMNX	Ophmr Eml Dbt	Pair Corr
0.6	OEMIX	Ophmr Eml Dbt	Pair Corr
0.6	OEMYX	Ophmr Eml Dbt	Pair Corr
0.74	OFIYX	Oppenheimer Corporate	Pair Corr
0.73	OFINX	Oppenheimer Corporate	Pair Corr
0.72	OFIIX	Oppenheimer Corporate	Pair Corr
0.32	OYCIX	Oppenhemier Cnsrvtv	Pair Corr

Related Correlations Analysis

	SUSAX	PRMDX	FALTX	JSNIX	SWSFX	TSDCX	LCSAX
SUSAX		0.54	-0.51	0.52	0.87	0.98	-0.75	SUSAX
PRMDX	0.54		0.21	0.73	0.39	0.45	-0.03	PRMDX
FALTX	-0.51	0.21		0.38	-0.54	-0.6	0.88	FALTX
JSNIX	0.52	0.73	0.38		0.39	0.43	0.06	JSNIX
SWSFX	0.87	0.39	-0.54	0.39		0.86	-0.7	SWSFX
TSDCX	0.98	0.45	-0.6	0.43	0.86		-0.81	TSDCX
LCSAX	-0.75	-0.03	0.88	0.06	-0.7	-0.81		LCSAX
	SUSAX	PRMDX	FALTX	JSNIX	SWSFX	TSDCX	LCSAX

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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

TSDCX	+ 0.98	SUSAX
LCSAX	+ 0.88	FALTX
SWSFX	+ 0.87	SUSAX
TSDCX	+ 0.86	SWSFX
JSNIX	+ 0.73	PRMDX
PRMDX	+ 0.54	SUSAX

High negative correlations

LCSAX	- 0.81	TSDCX
LCSAX	- 0.75	SUSAX
LCSAX	- 0.7	SWSFX
TSDCX	- 0.6	FALTX
SWSFX	- 0.54	FALTX
FALTX	- 0.51	SUSAX

Risk-Adjusted Indicators

There is a big difference between Oppenhmr Mutual Fund performing well and Oppenhmr Discovery 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 Oppenhmr Discovery'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
SUSAX	0.06	0.01	(1.05)	(0.97)	(0.15)	0.10	(0.10)	0.51
PRMDX	0.06	0.00	(0.46)	(0.09)	(0.20)	0.20	(0.19)	0.59
FALTX	0.18	(0.04)	0.00	(0.78)	0.00	0.29	(0.57)	1.16
JSNIX	0.08	0.00	(0.89)	(0.10)	(0.17)	0.21	(0.11)	0.64
SWSFX	0.05	0.01	(1.04)	(1.50)	(0.22)	0.10	(0.10)	0.59
TSDCX	0.06	0.01	(0.94)	(0.60)	(0.16)	0.11	(0.11)	0.55
LCSAX	0.25	(0.07)	0.00	(1.71)	0.00	0.33	(0.54)	1.69

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