Oppenheimer Gold Correlations

OGMNX Fund

USD 26.84 0.18 0.68%

The current 90-days correlation between Oppenheimer Gold Spec and Oppenheimer Main Street is -0.05 (i.e., Good diversification). The correlation of Oppenheimer Gold 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 Gold Correlation With Market

Average diversification

The correlation between Oppenheimer Gold Spec and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Gold Spec 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 Gold Spec. 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 board of governors.

Moving together with Oppenheimer Mutual Fund

0.7	ODVNX	Oppenheimer Developing	Pair Corr
0.71	ODVYX	Oppenheimer Developing	Pair Corr
0.66	QMGIX	Oppenheimer Global	Pair Corr
0.65	QMGRX	Oppenheimer Global	Pair Corr
0.65	QMGAX	Oppenheimer Global	Pair Corr
0.64	QMGCX	Oppenheimer Global	Pair Corr

Related Correlations Analysis

	OSCNX	OSCIX	OSCYX	OSIIX	OSINX	OSIYX	OSMNX	OSMYX	OSPAX	OSPMX
OSCNX		-0.63	0.95	-0.46	-0.46	-0.46	-0.63	-0.63	0.87	0.82	OSCNX
OSCIX	-0.63		-0.63	0.89	0.89	0.89	1.0	1.0	-0.8	-0.61	OSCIX
OSCYX	0.95	-0.63		-0.46	-0.46	-0.48	-0.63	-0.63	0.9	0.86	OSCYX
OSIIX	-0.46	0.89	-0.46		0.99	0.96	0.89	0.89	-0.57	-0.34	OSIIX
OSINX	-0.46	0.89	-0.46	0.99		0.97	0.89	0.89	-0.56	-0.32	OSINX
OSIYX	-0.46	0.89	-0.48	0.96	0.97		0.89	0.89	-0.61	-0.39	OSIYX
OSMNX	-0.63	1.0	-0.63	0.89	0.89	0.89		1.0	-0.81	-0.61	OSMNX
OSMYX	-0.63	1.0	-0.63	0.89	0.89	0.89	1.0		-0.81	-0.61	OSMYX
OSPAX	0.87	-0.8	0.9	-0.57	-0.56	-0.61	-0.81	-0.81		0.95	OSPAX
OSPMX	0.82	-0.61	0.86	-0.34	-0.32	-0.39	-0.61	-0.61	0.95		OSPMX
	OSCNX	OSCIX	OSCYX	OSIIX	OSINX	OSIYX	OSMNX	OSMYX	OSPAX	OSPMX

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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

OSMNX	+ 1.0	OSCIX
OSMYX	+ 1.0	OSCIX
OSMYX	+ 1.0	OSMNX
OSINX	+ 0.99	OSIIX
OSIYX	+ 0.97	OSINX
OSIYX	+ 0.96	OSIIX

High negative correlations

OSPAX	- 0.81	OSMYX
OSPAX	- 0.81	OSMNX
OSPAX	- 0.8	OSCIX
OSMYX	- 0.63	OSCYX
OSMNX	- 0.63	OSCYX
OSCYX	- 0.63	OSCIX

Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Gold 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 Gold'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	0.88	0.13	0.02	1.50	0.87	(1.00)	1.82	(1.54)	6.86
OSCIX	0.63	(0.17)	0.00	(0.20)	0.00	0.00	1.12	(1.21)	3.86
OSCYX	0.87	(0.03)	0.03	0.11	0.85	(0.97)	1.83	(1.52)	6.82
OSIIX	0.22	(0.03)	0.00	(0.15)	0.00	0.00	0.33	(0.64)	1.63
OSINX	0.20	(0.03)	0.00	(0.16)	0.00	0.00	0.32	(0.64)	1.30
OSIYX	0.23	(0.03)	0.00	(0.38)	0.00	0.00	0.33	(0.63)	1.62
OSMNX	0.63	(0.17)	0.00	(0.20)	0.00	0.00	1.14	(1.23)	3.85
OSMYX	0.62	(0.17)	0.00	(0.20)	0.00	0.00	1.13	(1.21)	3.86
OSPAX	0.65	0.21	0.16	0.60	0.41	(0.82)	1.58	(0.93)	4.29
OSPMX	0.52	0.13	0.09	0.47	0.11	(0.68)	1.52	(0.95)	2.83

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