Oppenheimer Roc Correlations

Mutual Funds . USA . 
Fund . Oppenheimer Roc High
ORNCX Fund  USD 6.84  0.01  0.15%   
The current 90-days correlation between Oppenheimer Roc High and Dws Global Macro is 0.41 (i.e., Very weak diversification). The correlation of Oppenheimer Roc 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 Roc Correlation With Market

OppenheimerDowDiversified AwayOppenheimerDowDiversified Away100%

Average diversification

The correlation between Oppenheimer Roc High 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 Roc 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 Roc 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 main economic indicators.

Moving together with Oppenheimer Mutual Fund

  0.93VMICX Invesco Municipal IncomePairCorr
  0.94VMINX Invesco Municipal IncomePairCorr
  0.94VMIIX Invesco Municipal IncomePairCorr
  0.78OARDX Oppenheimer RisingPairCorr
  0.74AMHYX Invesco High YieldPairCorr
  0.83OSMAX Oppenheimer InternationalPairCorr
  0.83OSMCX Oppenheimer InternationalPairCorr
  0.7HYIFX Invesco High YieldPairCorr
  0.69HYINX Invesco High YieldPairCorr
  0.75ILAAX Invesco Income AllocationPairCorr
  0.87PXCCX Invesco Select RiskPairCorr
  0.87PXCIX Invesco Select RiskPairCorr
  0.74PXGGX Invesco Select RiskPairCorr
  0.66EMLDX Invesco Emerging MarketsPairCorr
  0.68PXMQX Invesco Select RiskPairCorr
  0.69PXMSX Invesco Select RiskPairCorr
  0.69PXMMX Invesco Select RiskPairCorr
  0.67PXQIX Invesco Select RiskPairCorr
  0.97OCACX Oppenheimer Roc CaPairCorr
  0.74OCAIX Oppenheimer AggrssvPairCorr
  0.88OCCIX Oppenheimer CnsrvtvPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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