Oppenheimer Correlations

Mutual Funds . USA . 
Fund . Oppenheimer Gr Incm
OGINX Fund  USD 49.57  0.29  0.59%   
The current 90-days correlation between Oppenheimer Gr Incm and Rbc Smid Cap is 0.5 (i.e., Very weak diversification). The correlation of Oppenheimer 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 Correlation With Market

Almost no diversification

The correlation between Oppenheimer Gr Incm and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Gr Incm 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 Gr Incm. 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 inflation.

Moving together with Oppenheimer Mutual Fund

  0.8OSCNX Oppenheimer Main StreetPairCorr
  0.67OSCIX Oppenheimer Intl SmallPairCorr
  0.71OSCYX Oppenheimer Main StreetPairCorr
  0.65OSIIX Oppenheimer Global StrtgcPairCorr
  0.66OSINX Oppenheimer Strat IncmPairCorr
  0.67OSIYX Oppenheimer StrategicPairCorr
  0.61OSMNX Oppenheimer Intl SmallPairCorr
  0.67OSMYX Oppenheimer Intl SmallPairCorr
  0.81OSSIX Oppenheimer Main StreetPairCorr
  0.68OTCNX Oppenheimer Cap ApprecPairCorr
  0.69OTCYX Oppenheimer CapitalPairCorr
  0.68OCAYX Oppenheimer Roc CaPairCorr
  0.81MLPOX Oppenheimer Steelpath MlpPairCorr
  0.8ODINX Oppenheimer DiscoveryPairCorr
  0.84ODIYX Oppenheimer DiscoveryPairCorr
  0.9QMGIX Oppenheimer GlobalPairCorr
  0.9QMGRX Oppenheimer GlobalPairCorr
  0.9QMGYX Oppenheimer GlobalPairCorr
  0.9QMGAX Oppenheimer GlobalPairCorr
  0.9QMGCX Oppenheimer GlobalPairCorr
  0.71CGRYX Oppenheimer DisciplinedPairCorr
  0.87OEGYX Oppenhmr Discovery MidPairCorr
  0.87OEGIX Oppenhmr Discovery MidPairCorr
  0.82OEGNX Oppenhmr Discovery MidPairCorr
  0.85OEMIX Ophmr Eml DbtPairCorr
  0.85OEMNX Ophmr Eml DbtPairCorr
  0.86OEMYX Ophmr Eml DbtPairCorr
  0.82QOPIX Oppenheimer FlexiblePairCorr
  0.82QOPYX Oppenheimer FlexiblePairCorr
  1.0OGIYX Oppenheimer GlobalPairCorr
  1.0OGIIX Oppenheimer GlobalPairCorr

Moving against Oppenheimer Mutual Fund

  0.4ODVNX Oppenheimer DevelopingPairCorr
  0.35ODVYX Oppenheimer DevelopingPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer 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'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.

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