Oppenheimer Global Correlations

OGIYX Fund

USD 51.97 0.41 0.78%

The current 90-days correlation between Oppenheimer Global and Massmutual Premier Diversified is -0.02 (i.e., Good diversification). 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

Good diversification

The correlation between Oppenheimer Global Gr and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Global Gr 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 Gr. 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 Oppenheimer Mutual Fund

0.81	FSWFX	American Funds Smallcap	Pair Corr
0.81	FSFWX	American Funds Smallcap	Pair Corr
0.83	SCWCX	American Fds Smallcap	Pair Corr
0.82	SCWFX	Smallcap World	Pair Corr
0.69	SMCWX	Smallcap World	Pair Corr
0.81	CSPFX	Smallcap World	Pair Corr
0.82	CSPAX	Smallcap World	Pair Corr
0.82	CSPEX	Smallcap World	Pair Corr
0.82	RSLCX	Smallcap World	Pair Corr
0.68	RLLGX	Smallcap World	Pair Corr

Related Correlations Analysis

	MDBLX	HUDEX	EVFCX	MDDAX	XHNWX	ADX	JDJAX	PQCNX
MDBLX		-0.58	0.49	0.24	0.55	-0.65	0.48	0.93	MDBLX
HUDEX	-0.58		0.26	-0.45	-0.07	0.8	-0.19	-0.67	HUDEX
EVFCX	0.49	0.26		-0.47	0.63	0.12	0.55	0.43	EVFCX
MDDAX	0.24	-0.45	-0.47		-0.34	-0.53	-0.1	0.31	MDDAX
XHNWX	0.55	-0.07	0.63	-0.34		-0.03	0.09	0.44	XHNWX
ADX	-0.65	0.8	0.12	-0.53	-0.03		-0.29	-0.78	ADX
JDJAX	0.48	-0.19	0.55	-0.1	0.09	-0.29		0.54	JDJAX
PQCNX	0.93	-0.67	0.43	0.31	0.44	-0.78	0.54		PQCNX
	MDBLX	HUDEX	EVFCX	MDDAX	XHNWX	ADX	JDJAX	PQCNX

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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

PQCNX	+ 0.93	MDBLX
ADX	+ 0.8	HUDEX
XHNWX	+ 0.63	EVFCX
XHNWX	+ 0.55	MDBLX
JDJAX	+ 0.55	EVFCX
PQCNX	+ 0.54	JDJAX

High negative correlations

PQCNX	- 0.78	ADX
PQCNX	- 0.67	HUDEX
ADX	- 0.65	MDBLX
HUDEX	- 0.58	MDBLX
ADX	- 0.53	MDDAX
MDDAX	- 0.47	EVFCX

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	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MDBLX	0.22	0.00	(0.39)	0.21	0.27	(0.26)	0.37	(0.60)	1.35
HUDEX	0.68	0.06	(0.06)	0.94	0.73	(0.74)	1.58	(1.15)	5.46
EVFCX	0.16	0.00	(0.50)	0.14	0.12	(0.22)	0.40	(0.31)	1.12
MDDAX	0.93	(0.34)	0.00	(0.18)	0.00	0.00	1.16	(1.03)	22.61
XHNWX	0.14	0.00	(0.30)	0.00	0.20	(0.17)	0.31	(0.46)	1.39
ADX	0.63	(0.02)	(0.04)	0.10	0.85	(0.64)	1.35	(1.20)	3.44
JDJAX	0.44	(0.08)	0.00	(0.09)	0.00	0.00	1.01	(0.90)	2.44
PQCNX	0.22	(0.03)	0.00	(0.37)	0.00	0.00	0.46	(0.69)	1.40

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