Oppenheimer International Correlations

OIBAX Fund

USD 4.41 0.03 0.68%

The current 90-days correlation between Oppenheimer International and Invesco Energy Fund is 0.38 (i.e., Weak diversification). The correlation of Oppenheimer International 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 International Correlation With Market

Average diversification

The correlation between Oppenheimer International Bond 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 International Bond 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 International Bond. 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 nation.

Moving together with Oppenheimer Mutual Fund

0.88	OSICX	Oppenheimer Strategic	Pair Corr
0.84	STBAX	Invesco Short Term	Pair Corr
0.84	STBCX	Invesco Short Term	Pair Corr
0.77	MLPRX	Oppenheimer Steelpath Mlp	Pair Corr
0.82	STBYX	Invesco Short Term	Pair Corr
0.85	STBRX	Invesco Short Term	Pair Corr
0.77	MLPDX	Oppenheimer Steelpath Mlp	Pair Corr
0.69	MLPAX	Oppenheimer Steelpath Mlp	Pair Corr
0.68	MLPGX	Oppenheimer Steelpath Mlp	Pair Corr
0.74	MLPFX	Oppenheimer Steelpath Mlp	Pair Corr
0.73	MLPEX	Steelpath Select	Pair Corr
0.68	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr

Moving against Oppenheimer Mutual Fund

0.63	OSMCX	Oppenheimer International	Pair Corr
0.61	OSMAX	Oppenheimer International	Pair Corr
0.6	OARDX	Oppenheimer Rising	Pair Corr
0.63	OCRDX	Oppenheimer Rising	Pair Corr
0.62	INGFX	Invesco Oppenheimer	Pair Corr
0.47	INDFX	Invesco International	Pair Corr

Related Correlations Analysis

	IEFCX	ALEFX	PDX	PYILX	ENPSX	FSLEX	AIWEX	TMCLX
IEFCX		0.83	0.38	0.12	0.96	0.24	0.73	0.67	IEFCX
ALEFX	0.83		0.64	-0.22	0.72	0.53	0.86	0.94	ALEFX
PDX	0.38	0.64		-0.66	0.19	0.54	0.59	0.78	PDX
PYILX	0.12	-0.22	-0.66		0.24	-0.08	-0.1	-0.36	PYILX
ENPSX	0.96	0.72	0.19	0.24		0.12	0.58	0.49	ENPSX
FSLEX	0.24	0.53	0.54	-0.08	0.12		0.63	0.67	FSLEX
AIWEX	0.73	0.86	0.59	-0.1	0.58	0.63		0.86	AIWEX
TMCLX	0.67	0.94	0.78	-0.36	0.49	0.67	0.86		TMCLX
	IEFCX	ALEFX	PDX	PYILX	ENPSX	FSLEX	AIWEX	TMCLX

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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

ENPSX	+ 0.96	IEFCX
TMCLX	+ 0.94	ALEFX
AIWEX	+ 0.86	ALEFX
TMCLX	+ 0.86	AIWEX
ALEFX	+ 0.83	IEFCX
TMCLX	+ 0.78	PDX

High negative correlations

PYILX	- 0.66	PDX
TMCLX	- 0.36	PYILX
PYILX	- 0.22	ALEFX
AIWEX	- 0.1	PYILX
FSLEX	- 0.08	PYILX

Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer International 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 International'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
IEFCX	0.76	0.02	(0.04)	0.17	1.07	(0.69)	1.25	(1.73)	5.01
ALEFX	0.97	0.10	0.03	0.33	1.46	(0.98)	1.96	(2.44)	6.68
PDX	1.80	0.20	0.05	0.41	2.78	(2.11)	3.33	(3.19)	31.15
PYILX	0.31	(0.03)	0.00	(0.13)	0.00	0.00	0.67	(0.45)	2.00
ENPSX	1.24	(0.03)	(0.05)	0.02	1.70	(1.22)	2.07	(3.16)	9.88
FSLEX	0.88	0.04	(0.01)	0.18	1.43	(0.82)	1.84	(1.92)	6.96
AIWEX	0.96	0.07	0.00	0.42	1.59	(1.03)	1.90	(1.66)	11.65
TMCLX	0.95	0.15	0.06	0.50	1.24	(1.02)	1.88	(2.31)	6.77

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