Oppenheimer Senior Correlations

OOSAX Fund

USD 6.60 0.00 0.00%

The current 90-days correlation between Oppenheimer Senior and Rbc Global Equity is -0.14 (i.e., Good diversification). The correlation of Oppenheimer Senior 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 Senior Correlation With Market

Good diversification

The correlation between Oppenheimer Senior Floating and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Senior Floating 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 Senior Floating. 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

0.75	OARDX	Oppenheimer Rising	Pair Corr
0.82	AMHYX	Invesco High Yield	Pair Corr
0.83	HYIFX	Invesco High Yield	Pair Corr
0.84	HYINX	Invesco High Yield	Pair Corr
0.67	PXGGX	Invesco Select Risk	Pair Corr
0.75	OTFCX	Oppenheimer Target	Pair Corr
0.67	PXQIX	Invesco Select Risk	Pair Corr
0.66	OCAIX	Oppenheimer Aggrssv	Pair Corr
0.64	MLPRX	Oppenheimer Steelpath Mlp	Pair Corr
0.65	MLPDX	Oppenheimer Steelpath Mlp	Pair Corr
0.79	MLPAX	Oppenheimer Steelpath Mlp	Pair Corr
0.79	MLPGX	Oppenheimer Steelpath Mlp	Pair Corr
0.79	MLPFX	Oppenheimer Steelpath Mlp	Pair Corr
0.79	MLPEX	Steelpath Select	Pair Corr
0.77	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.74	OCRDX	Oppenheimer Rising	Pair Corr
0.8	SCAYX	Invesco Low Volatility	Pair Corr

Moving against Oppenheimer Mutual Fund

0.77	OSMAX	Oppenheimer International	Pair Corr
0.77	OSMCX	Oppenheimer International	Pair Corr
0.63	EMLDX	Invesco Emerging Markets	Pair Corr
0.56	OSICX	Oppenheimer Strategic	Pair Corr
0.46	OCCIX	Oppenheimer Cnsrvtv	Pair Corr
0.38	PXCCX	Invesco Select Risk	Pair Corr
0.38	PXCIX	Invesco Select Risk	Pair Corr
0.66	OEMCX	Ophmr Eml Dbt	Pair Corr
0.65	OEMAX	Ophmr Eml Dbt	Pair Corr
0.63	INDFX	Invesco International	Pair Corr
0.52	INBQX	Aim Investment Funds	Pair Corr

Related Correlations Analysis

	RGELX	GMADX	HQIAX	DIVHX	DODFX	QDIBX
RGELX		0.32	0.9	0.89	0.15	-0.63	RGELX
GMADX	0.32		0.38	0.49	0.78	0.17	GMADX
HQIAX	0.9	0.38		0.95	0.09	-0.69	HQIAX
DIVHX	0.89	0.49	0.95		0.28	-0.56	DIVHX
DODFX	0.15	0.78	0.09	0.28		0.25	DODFX
QDIBX	-0.63	0.17	-0.69	-0.56	0.25		QDIBX
	RGELX	GMADX	HQIAX	DIVHX	DODFX	QDIBX

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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

DIVHX	+ 0.95	HQIAX
HQIAX	+ 0.9	RGELX
DIVHX	+ 0.89	RGELX
DODFX	+ 0.78	GMADX
DIVHX	+ 0.49	GMADX
HQIAX	+ 0.38	GMADX

High negative correlations

QDIBX	- 0.69	HQIAX
QDIBX	- 0.63	RGELX
QDIBX	- 0.56	DIVHX

Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Senior 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 Senior'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
RGELX	0.57	0.00	(0.05)	0.12	0.62	(0.65)	1.31	(1.29)	3.60
GMADX	0.55	0.01	(0.14)	1.83	0.72	(0.56)	1.18	(1.20)	3.39
HQIAX	0.45	0.08	(0.09)	(1.74)	0.39	(0.53)	1.00	(0.85)	3.28
DIVHX	0.49	0.10	(0.03)	2.26	0.31	(0.57)	1.12	(0.74)	2.83
DODFX	0.63	(0.09)	0.00	(0.08)	0.00	0.00	1.18	(1.56)	4.42
QDIBX	0.24	(0.03)	0.00	0.63	0.00	0.00	0.44	(0.56)	1.23

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