Oppenheimer Intl Correlations

Mutual Funds . USA . 
Fund . Oppenheimer Intl Diversified
OIDYX Fund  USD 16.46  0.09  0.55%   
The current 90-days correlation between Oppenheimer Intl Div and Oppenheimer Main Street is 0.54 (i.e., Very weak diversification). The correlation of Oppenheimer Intl 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 Intl Correlation With Market

Significant diversification

The correlation between Oppenheimer Intl Diversified and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Intl Diversified 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 Intl Diversified. 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

  0.89OSCIX Oppenheimer Intl SmallPairCorr
  0.78OSIIX Oppenheimer Global StrtgcPairCorr
  0.8OSINX Oppenheimer Strat IncmPairCorr
  0.79OSIYX Oppenheimer StrategicPairCorr
  0.89OSMNX Oppenheimer Intl SmallPairCorr
  0.89OSMYX Oppenheimer Intl SmallPairCorr
  0.66ODVNX Oppenheimer DevelopingPairCorr
  0.65ODVYX Oppenheimer DevelopingPairCorr
  0.84QMGIX Oppenheimer GlobalPairCorr
  0.85QMGRX Oppenheimer GlobalPairCorr
  0.85QMGAX Oppenheimer GlobalPairCorr
  0.86QMGCX Oppenheimer GlobalPairCorr
  0.85OEMIX Ophmr Eml DbtPairCorr
  0.85OEMNX Ophmr Eml DbtPairCorr
  0.86OEMYX Ophmr Eml DbtPairCorr
  0.71OFIIX Oppenheimer CorporatePairCorr
  0.71OFINX Oppenheimer CorporatePairCorr
  0.67OFIYX Oppenheimer CorporatePairCorr

Moving against Oppenheimer Mutual Fund

  0.73OSPPX Oppenheimer Steelpath MlpPairCorr
  0.73MLPNX Oppenheimer Steelpath MlpPairCorr
  0.72OSPAX Oppenheimer Steelpath MlpPairCorr
  0.72MLPOX Oppenheimer Steelpath MlpPairCorr
  0.66OSPSX Oppenheimer Steelpath MlpPairCorr
  0.52OSPMX Oppenheimer Steelpath MlpPairCorr
  0.5OSCYX Oppenheimer Main StreetPairCorr
  0.45OSSIX Oppenheimer Main StreetPairCorr
  0.45OTCNX Oppenheimer Cap ApprecPairCorr
  0.44OSCNX Oppenheimer Main StreetPairCorr
  0.66MLPTX Oppenheimer Steelpath MlpPairCorr
  0.57MLPZX Oppenheimer Steelpath MlpPairCorr
  0.54OEGIX Oppenhmr Discovery MidPairCorr
  0.52OEGYX Oppenhmr Discovery MidPairCorr
  0.51OEGNX Oppenhmr Discovery MidPairCorr
  0.47CGRYX Oppenheimer DisciplinedPairCorr
  0.46CGRNX Oppenheimer ValuePairCorr
  0.43ODIYX Oppenheimer DiscoveryPairCorr
  0.42ODINX Oppenheimer DiscoveryPairCorr
  0.49OGRIX Oppenheimer ValuePairCorr
  0.37QOPIX Oppenheimer FlexiblePairCorr
  0.36QOPYX Oppenheimer FlexiblePairCorr
  0.33QOPNX Oppenheimer FlexiblePairCorr

Related Correlations Analysis

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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
OSIYX
+ 1.0
OSIIX
OSMYX
+ 1.0
OSMNX
OSINX
+ 0.99
OSIIX
OSIYX
+ 0.99
OSINX
  
High negative correlations   
OSPAX
- 0.81
OSMYX
OSPAX
- 0.81
OSMNX
OSPAX
- 0.8
OSCIX
OSMYX
- 0.6
OSCYX
OSMNX
- 0.6
OSCYX
OSCYX
- 0.6
OSCIX

Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Intl 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 Intl'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
OSCNX  0.91  0.15  0.04  1.67  0.87 
(1.04)
 1.96 
(1.54)
 6.86 
OSCIX  0.62 (0.19) 0.00 (0.24) 0.00 
 0.00 
 1.12 
(1.21)
 3.86 
OSCYX  0.88 (0.03) 0.02  0.10  0.87 
(1.00)
 1.83 
(1.52)
 6.82 
OSIIX  0.23 (0.02) 0.00 (0.19) 0.00 
 0.00 
 0.33 
(0.64)
 1.63 
OSINX  0.21 (0.02) 0.00 (0.21) 0.00 
 0.00 
 0.32 
(0.64)
 1.91 
OSIYX  0.24 (0.02) 0.00 (0.22) 0.00 
 0.00 
 0.33 
(0.63)
 1.62 
OSMNX  0.62 (0.19) 0.00 (0.24) 0.00 
 0.00 
 1.14 
(1.23)
 3.85 
OSMYX  0.62 (0.19) 0.00 (0.24) 0.00 
 0.00 
 1.13 
(1.21)
 3.86 
OSPAX  0.64  0.22  0.14  1.73  0.41 
(0.81)
 1.58 
(0.85)
 4.28 
OSPMX  0.50  0.12  0.03  1.10  0.34 
(0.63)
 1.48 
(0.95)
 2.76 

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