Oppenheimer Global Correlations

QMGYX Fund

USD 11.34 0.09 0.80%

The current 90-days correlation between Oppenheimer Global and Vanguard Total International is -0.21 (i.e., Very good diversification). The correlation of Oppenheimer Global 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 Global Correlation With Market

Good diversification

The correlation between Oppenheimer Global Multi Asset and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Global Multi Asset 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 Global Multi Asset. 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

0.84	ODVNX	Oppenheimer Developing	Pair Corr
0.89	ODVYX	Oppenheimer Developing	Pair Corr
1.0	QMGIX	Oppenheimer Global	Pair Corr
0.84	QMGRX	Oppenheimer Global	Pair Corr
1.0	QMGAX	Oppenheimer Global	Pair Corr
1.0	QMGCX	Oppenheimer Global	Pair Corr

Moving against Oppenheimer Mutual Fund

0.46	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.45	OSPAX	Oppenheimer Steelpath Mlp	Pair Corr
0.42	MLPOX	Oppenheimer Steelpath Mlp	Pair Corr
0.41	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.36	OSPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.36	MLPZX	Oppenheimer Steelpath Mlp	Pair Corr
0.35	MLPTX	Oppenheimer Steelpath Mlp	Pair Corr

Related Correlations Analysis

	VTIAX	VDVIX	VTMNX	444859BR2	SCRYY	AQUI	APAAX	LBHIX	MSTSX	ID
VTIAX		0.91	0.86	0.17	-0.31	0.0	0.48	0.09	0.41	-0.42	VTIAX
VDVIX	0.91		0.92	0.43	-0.47	0.0	0.49	-0.18	0.06	-0.57	VDVIX
VTMNX	0.86	0.92		0.47	-0.5	0.0	0.45	-0.17	0.15	-0.64	VTMNX
444859BR2	0.17	0.43	0.47		-0.53	0.0	0.06	-0.54	-0.45	-0.57	444859BR2
SCRYY	-0.31	-0.47	-0.5	-0.53		0.0	0.16	0.48	0.34	0.73	SCRYY
AQUI	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	AQUI
APAAX	0.48	0.49	0.45	0.06	0.16	0.0		0.45	0.21	-0.02	APAAX
LBHIX	0.09	-0.18	-0.17	-0.54	0.48	0.0	0.45		0.68	0.55	LBHIX
MSTSX	0.41	0.06	0.15	-0.45	0.34	0.0	0.21	0.68		0.36	MSTSX
ID	-0.42	-0.57	-0.64	-0.57	0.73	0.0	-0.02	0.55	0.36		ID
	VTIAX	VDVIX	VTMNX	444859BR2	SCRYY	AQUI	APAAX	LBHIX	MSTSX	ID

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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

VTMNX	+ 0.92	VDVIX
VDVIX	+ 0.91	VTIAX
VTMNX	+ 0.86	VTIAX
ID	+ 0.73	SCRYY
MSTSX	+ 0.68	LBHIX
ID	+ 0.55	LBHIX

High negative correlations

ID	- 0.64	VTMNX
ID	- 0.57	444859BR2
ID	- 0.57	VDVIX
LBHIX	- 0.54	444859BR2
SCRYY	- 0.53	444859BR2
SCRYY	- 0.5	VTMNX

Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Global 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 Global'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
VTIAX	0.62	(0.09)	0.00	(0.08)	0.00	0.00	1.15	(1.59)	4.11
VDVIX	0.65	(0.12)	0.00	(0.12)	0.00	0.00	1.21	(1.52)	4.01
VTMNX	0.63	(0.08)	0.00	4.03	0.00	0.00	0.99	(1.55)	3.94
444859BR2	1.36	(0.03)	0.00	0.24	0.00	0.00	5.93	(5.79)	16.62
SCRYY	2.07	0.36	0.08	(0.73)	2.02	(2.85)	5.61	(4.09)	12.99
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
APAAX	0.14	0.02	(0.38)	(0.13)	0.14	(0.18)	0.31	(0.31)	1.13
LBHIX	0.12	0.02	(0.44)	1.66	0.00	(0.28)	0.24	(0.24)	0.96
MSTSX	0.49	0.04	(0.14)	(0.75)	0.52	(0.61)	1.21	(1.02)	2.80
ID	3.84	0.83	0.15	1.41	3.95	(5.14)	7.89	(6.67)	20.54

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