Oppenheimer Strategic Correlations

OSICX Fund

USD 3.12 0.01 0.32%

The current 90-days correlation between Oppenheimer Strategic and Invesco Municipal Income is 0.4 (i.e., Very weak diversification). The correlation of Oppenheimer Strategic 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 Strategic Correlation With Market

Modest diversification

The correlation between Oppenheimer Strategic Income and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Strategic Income 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 Strategic Income. 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

0.8	AMHYX	Invesco High Yield	Pair Corr
0.81	HYIFX	Invesco High Yield	Pair Corr
0.73	HYINX	Invesco High Yield	Pair Corr
0.67	ILAAX	Invesco Income Allocation	Pair Corr
0.68	PXMQX	Invesco Select Risk	Pair Corr
0.67	PXMSX	Invesco Select Risk	Pair Corr
0.68	PXMMX	Invesco Select Risk	Pair Corr
0.8	STBAX	Invesco Short Term	Pair Corr
0.79	STBCX	Invesco Short Term	Pair Corr
0.81	MLPRX	Oppenheimer Steelpath Mlp	Pair Corr
0.79	STBYX	Invesco Short Term	Pair Corr
0.82	STBRX	Invesco Short Term	Pair Corr
0.81	MLPDX	Oppenheimer Steelpath Mlp	Pair Corr
0.76	MLPAX	Oppenheimer Steelpath Mlp	Pair Corr
0.73	MLPGX	Oppenheimer Steelpath Mlp	Pair Corr
0.77	MLPFX	Oppenheimer Steelpath Mlp	Pair Corr
0.77	MLPEX	Steelpath Select	Pair Corr
0.74	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr

Moving against Oppenheimer Mutual Fund

0.31	OSMCX	Oppenheimer International	Pair Corr
0.31	OCRDX	Oppenheimer Rising	Pair Corr

Related Correlations Analysis

	VMICX	VMINX	VMIIX	OARDX	AMHYX	OSICX	OSMAX	OSMCX	HYIFX	HYINX
VMICX		1.0	0.99	0.66	0.6	0.2	0.58	0.57	0.59	0.53	VMICX
VMINX	1.0		1.0	0.63	0.63	0.24	0.55	0.54	0.62	0.56	VMINX
VMIIX	0.99	1.0		0.59	0.66	0.27	0.51	0.51	0.64	0.59	VMIIX
OARDX	0.66	0.63	0.59		0.08	-0.26	0.95	0.96	0.09	0.02	OARDX
AMHYX	0.6	0.63	0.66	0.08		0.8	-0.01	-0.03	0.97	0.91	AMHYX
OSICX	0.2	0.24	0.27	-0.26	0.8		-0.28	-0.31	0.81	0.73	OSICX
OSMAX	0.58	0.55	0.51	0.95	-0.01	-0.28		1.0	-0.01	-0.07	OSMAX
OSMCX	0.57	0.54	0.51	0.96	-0.03	-0.31	1.0		-0.03	-0.09	OSMCX
HYIFX	0.59	0.62	0.64	0.09	0.97	0.81	-0.01	-0.03		0.91	HYIFX
HYINX	0.53	0.56	0.59	0.02	0.91	0.73	-0.07	-0.09	0.91		HYINX
	VMICX	VMINX	VMIIX	OARDX	AMHYX	OSICX	OSMAX	OSMCX	HYIFX	HYINX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

VMINX	+ 1.0	VMICX
VMIIX	+ 1.0	VMINX
OSMCX	+ 1.0	OSMAX
VMIIX	+ 0.99	VMICX
HYIFX	+ 0.97	AMHYX
OSMCX	+ 0.96	OARDX

High negative correlations

OSMCX	- 0.31	OSICX
OSMAX	- 0.28	OSICX
OSICX	- 0.26	OARDX
HYINX	- 0.09	OSMCX
HYINX	- 0.07	OSMAX
HYIFX	- 0.03	OSMCX

Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Strategic 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 Strategic'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
VMICX	0.21	(0.01)	(0.23)	(0.01)	0.30	(0.24)	0.42	(0.50)	1.68
VMINX	0.19	0.00	(0.20)	0.01	0.28	(0.25)	0.42	(0.50)	1.60
VMIIX	0.20	0.00	(0.20)	0.03	0.30	(0.24)	0.42	(0.50)	1.60
OARDX	0.69	(0.15)	0.00	(0.26)	0.00	0.00	1.15	(1.17)	12.74
AMHYX	0.15	0.01	(0.25)	0.31	0.00	(0.36)	0.28	(0.28)	1.13
OSICX	0.24	0.01	(0.15)	0.20	0.19	(0.47)	0.65	(0.33)	1.95
OSMAX	0.70	(0.17)	0.00	(0.32)	0.00	0.00	1.48	(1.29)	10.66
OSMCX	0.72	(0.19)	0.00	(0.36)	0.00	0.00	1.49	(1.30)	11.94
HYIFX	0.16	0.01	(0.21)	0.21	0.05	(0.35)	0.28	(0.28)	1.41
HYINX	0.13	0.02	(0.22)	1.68	0.00	(0.34)	0.29	(0.28)	1.13

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC