Oppenheimer Main Correlations

OSCYX Fund

USD 23.45 0.20 0.86%

The current 90-days correlation between Oppenheimer Main Street and Us Global Investors is 0.4 (i.e., Very weak diversification). The correlation of Oppenheimer Main 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 Main Correlation With Market

Average diversification

The correlation between Oppenheimer Main Street and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Main Street 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 Main Street. 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

0.95	OSCNX	Oppenheimer Main Street	Pair Corr
0.73	OSCIX	Oppenheimer Intl Small	Pair Corr
0.74	OSMNX	Oppenheimer Intl Small	Pair Corr
0.73	OSMYX	Oppenheimer Intl Small	Pair Corr
0.95	OSSIX	Oppenheimer Main Street	Pair Corr
0.66	OCAYX	Oppenheimer Roc Ca	Pair Corr
0.95	ODINX	Oppenheimer Discovery	Pair Corr
0.94	ODIYX	Oppenheimer Discovery	Pair Corr
0.83	CGRNX	Oppenheimer Value	Pair Corr
0.84	CGRYX	Oppenheimer Disciplined	Pair Corr
0.9	OEGYX	Oppenhmr Discovery Mid	Pair Corr
0.89	OEGIX	Oppenhmr Discovery Mid	Pair Corr
0.93	OEGNX	Oppenhmr Discovery Mid	Pair Corr
0.63	OEMIX	Ophmr Eml Dbt	Pair Corr
0.64	OEMNX	Ophmr Eml Dbt	Pair Corr
0.64	OEMYX	Ophmr Eml Dbt	Pair Corr
0.79	OFIIX	Oppenheimer Corporate	Pair Corr
0.8	OFINX	Oppenheimer Corporate	Pair Corr
0.68	OFIYX	Oppenheimer Corporate	Pair Corr

Related Correlations Analysis

	USLUX	SMYIX	DHGCX	RGPAX	ZGFIX	QGMIX	KGLCX
USLUX		0.78	0.67	0.73	0.49	-0.3	0.17	USLUX
SMYIX	0.78		0.63	0.93	0.61	-0.13	0.57	SMYIX
DHGCX	0.67	0.63		0.59	0.77	0.13	0.41	DHGCX
RGPAX	0.73	0.93	0.59		0.66	-0.1	0.54	RGPAX
ZGFIX	0.49	0.61	0.77	0.66		0.37	0.68	ZGFIX
QGMIX	-0.3	-0.13	0.13	-0.1	0.37		0.41	QGMIX
KGLCX	0.17	0.57	0.41	0.54	0.68	0.41		KGLCX
	USLUX	SMYIX	DHGCX	RGPAX	ZGFIX	QGMIX	KGLCX

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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

RGPAX	+ 0.93	SMYIX
SMYIX	+ 0.78	USLUX
ZGFIX	+ 0.77	DHGCX
RGPAX	+ 0.73	USLUX
KGLCX	+ 0.68	ZGFIX
DHGCX	+ 0.67	USLUX

High negative correlations

QGMIX	- 0.3	USLUX
QGMIX	- 0.13	SMYIX
QGMIX	- 0.1	RGPAX

Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Main 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 Main'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
USLUX	0.80	0.03	(0.03)	(0.37)	1.69	(0.80)	1.66	(1.59)	10.07
SMYIX	0.65	(0.01)	(0.04)	0.06	1.06	(0.59)	1.48	(1.35)	4.86
DHGCX	0.15	(0.01)	(0.42)	(0.21)	0.14	(0.21)	0.36	(0.26)	0.94
RGPAX	0.57	0.00	(0.05)	0.08	0.85	(0.58)	1.27	(1.57)	4.08
ZGFIX	0.43	0.02	(0.07)	1.35	0.72	(0.42)	0.85	(0.92)	3.69
QGMIX	0.42	0.02	(0.09)	0.27	0.41	(0.51)	0.95	(0.84)	2.57
KGLCX	1.28	0.24	0.12	2.23	1.32	(1.50)	3.00	(2.32)	8.75

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