Oppenheimer Rochester Correlations

Mutual Funds . USA . 
Fund . Oppenheimer Rochester High
ORNAX Fund  USD 6.62  0.02  0.30%   
The current 90-days correlation between Oppenheimer Rochester and Pimco Diversified Income is -0.13 (i.e., Good diversification). The correlation of Oppenheimer Rochester 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 Rochester Correlation With Market

Poor diversification

The correlation between Oppenheimer Rochester High and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Rochester High 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 Rochester High. 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

  0.9VMICX Invesco Municipal IncomePairCorr
  0.93VMINX Invesco Municipal IncomePairCorr
  0.92VMIIX Invesco Municipal IncomePairCorr
  0.69AMHYX Invesco High YieldPairCorr
  0.69OSICX Oppenheimer StrategicPairCorr
  0.66HYIFX Invesco High YieldPairCorr
  0.65HYINX Invesco High YieldPairCorr
  0.66PXCCX Invesco Select RiskPairCorr
  0.64BRCNX Invesco Balanced RiskPairCorr
  0.67PXCIX Invesco Select RiskPairCorr
  0.63BRCCX Invesco Balanced RiskPairCorr
  0.64BRCAX Invesco Balanced RiskPairCorr
  0.64BRCYX Invesco Balanced RiskPairCorr
  0.73EMLDX Invesco Emerging MarketsPairCorr
  0.64PXMSX Invesco Select RiskPairCorr
  0.61PXMMX Invesco Select RiskPairCorr
  0.79STBAX Invesco Short TermPairCorr
  0.65STBCX Invesco Short TermPairCorr
  0.64MLPRX Oppenheimer Steelpath MlpPairCorr
  0.65MLPDX Oppenheimer Steelpath MlpPairCorr
  0.75MLPMX Oppenheimer Steelpath MlpPairCorr
  0.74MLPLX Oppenheimer Steelpath MlpPairCorr
  0.7INBQX Aim Investment FundsPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Rochester 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 Rochester'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.

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