Oppenheimer Rochester Correlations

RMUNX Fund  USD 15.17  0.02  0.13%   
The current 90-days correlation between Oppenheimer Rochester and Opnhmr Rchstr Ltd is 0.66 (i.e., Poor diversification). The correlation of Oppenheimer Rochester 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 Rochester Correlation With Market

OppenheimerDowDiversified AwayOppenheimerDowDiversified Away100%

Average diversification

The correlation between Oppenheimer Rochester and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Rochester 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 Rochester. 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

  1.0VMICX Invesco Municipal IncomePairCorr
  0.99VMINX Invesco Municipal IncomePairCorr
  0.99VMIIX Invesco Municipal IncomePairCorr
  0.79OARDX Oppenheimer RisingPairCorr
  0.65AMHYX Invesco High YieldPairCorr
  0.87OSMAX Oppenheimer InternationalPairCorr
  0.64PXMSX Invesco Select RiskPairCorr
  0.84INGFX Invesco OppenheimerPairCorr
  0.84CGREX Invesco Global RealPairCorr
  0.76CGRCX Oppenheimer ValuePairCorr
  0.73GGHYX Invesco Global HealthPairCorr
  0.74GGHCX Invesco Global HealthPairCorr
  0.77CHRRX Invesco CharterPairCorr
  0.77CHRSX Invesco CharterPairCorr
  0.77AADSX Invesco Growth AllocationPairCorr
  0.78ASIYX Invesco Asia PacificPairCorr
  0.78ASISX Invesco Asia PacificPairCorr
  0.77ASIAX Invesco Asia PacificPairCorr
  0.61ABRYX Invesco Balanced RiskPairCorr
  0.82OIDAX Oppenheimer InternationalPairCorr
  0.93ACCBX Invesco Porate BondPairCorr
  0.85IARRX Invesco Real EstatePairCorr
  0.85IARYX Invesco Real EstatePairCorr
  0.77ACSTX Invesco ComstockPairCorr
  0.99ACTHX Invesco High YieldPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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