Oppenheimer Gbl Correlations

Mutual Funds . USA . 
Fund . Oppenheimer Gbl Alloc
QGRNX Fund  USD 19.09  0.03  0.16%   
The current 90-days correlation between Oppenheimer Gbl Alloc and Oppenheimer Cap Apprec is 0.77 (i.e., Poor diversification). The correlation of Oppenheimer Gbl 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 Gbl Correlation With Market

Very weak diversification

The correlation between Oppenheimer Gbl Alloc and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Gbl Alloc 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 Gbl Alloc. 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 board of governors.

Moving together with Oppenheimer Mutual Fund

  0.64OSCIX Oppenheimer Intl SmallPairCorr
  0.61OSMNX Oppenheimer Intl SmallPairCorr
  0.63OSMYX Oppenheimer Intl SmallPairCorr
  0.79OTCNX Oppenheimer Cap ApprecPairCorr
  0.79OTCYX Oppenheimer CapitalPairCorr
  0.82ODVNX Oppenheimer DevelopingPairCorr
  0.82ODVYX Oppenheimer DevelopingPairCorr
  0.82QMGIX Oppenheimer GlobalPairCorr
  0.83QMGRX Oppenheimer GlobalPairCorr
  0.82QMGYX Oppenheimer GlobalPairCorr
  0.82QMGAX Oppenheimer GlobalPairCorr
  0.83QMGCX Oppenheimer GlobalPairCorr
  0.85OEMIX Ophmr Eml DbtPairCorr
  0.85OEMNX Ophmr Eml DbtPairCorr
  0.85OEMYX Ophmr Eml DbtPairCorr
  0.72OFIIX Oppenheimer CorporatePairCorr
  0.7OFINX Oppenheimer CorporatePairCorr
  0.73OFIYX Oppenheimer CorporatePairCorr

Related Correlations Analysis

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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   
OMGNX
+ 0.91
OGLNX
OMGNX
+ 0.91
OPMNX
OPMNX
+ 0.88
OGLNX
OMGNX
+ 0.75
OTCNX
OGLNX
+ 0.63
OTCNX
OPMNX
+ 0.55
OTCNX
  
High negative correlations   
OSINX
- 0.33
OPMNX
OSINX
- 0.11
OGLNX
OSINX
- 0.01
OMGNX

Risk-Adjusted Indicators

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