Oppenheimer Discovery Fund Market Value
| ODIYX Fund | USD 139.38 1.25 0.90% |
| Symbol | Oppenheimer |
Oppenheimer Discovery 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Oppenheimer Discovery's mutual fund what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Oppenheimer Discovery.
| 07/05/2023 |
| 11/26/2024 |
If you would invest 0.00 in Oppenheimer Discovery on July 5, 2023 and sell it all today you would earn a total of 0.00 from holding Oppenheimer Discovery or generate 0.0% return on investment in Oppenheimer Discovery over 510 days. Oppenheimer Discovery is related to or competes with Oppenheimer Main, Oppenheimer Intl, Oppenheimer Main, Oppenheimer Global, Oppenheimer Strat, Oppenheimer Strategic, and Oppenheimer Intl. The fund mainly invests in common stocks of U.S More
Oppenheimer Discovery Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Oppenheimer Discovery's mutual fund current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Oppenheimer Discovery upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.34 | |||
| Information Ratio | 0.0694 | |||
| Maximum Drawdown | 6.89 | |||
| Value At Risk | (1.76) | |||
| Potential Upside | 2.38 |
Oppenheimer Discovery Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Oppenheimer Discovery's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Oppenheimer Discovery's standard deviation. In reality, there are many statistical measures that can use Oppenheimer Discovery historical prices to predict the future Oppenheimer Discovery's volatility.| Risk Adjusted Performance | 0.1293 | |||
| Jensen Alpha | 0.1789 | |||
| Total Risk Alpha | 0.0011 | |||
| Sortino Ratio | 0.0708 | |||
| Treynor Ratio | 0.7291 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Oppenheimer Discovery's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Oppenheimer Discovery Backtested Returns
Oppenheimer Discovery appears to be very steady, given 3 months investment horizon. Oppenheimer Discovery maintains Sharpe Ratio (i.e., Efficiency) of 0.17, which implies the entity had a 0.17% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Oppenheimer Discovery, which you can use to evaluate the volatility of the fund. Please evaluate Oppenheimer Discovery's Semi Deviation of 1.05, risk adjusted performance of 0.1293, and Coefficient Of Variation of 612.17 to confirm if our risk estimates are consistent with your expectations. The fund holds a Beta of 0.29, which implies not very significant fluctuations relative to the market. As returns on the market increase, Oppenheimer Discovery's returns are expected to increase less than the market. However, during the bear market, the loss of holding Oppenheimer Discovery is expected to be smaller as well.
Auto-correlation | 0.69 |
Good predictability
Oppenheimer Discovery has good predictability. Overlapping area represents the amount of predictability between Oppenheimer Discovery time series from 5th of July 2023 to 16th of March 2024 and 16th of March 2024 to 26th of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Oppenheimer Discovery price movement. The serial correlation of 0.69 indicates that around 69.0% of current Oppenheimer Discovery price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.69 | |
| Spearman Rank Test | 0.54 | |
| Residual Average | 0.0 | |
| Price Variance | 44.77 |
Oppenheimer Discovery lagged returns against current returns
Autocorrelation, which is Oppenheimer Discovery mutual fund's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Oppenheimer Discovery's mutual fund expected returns. We can calculate the autocorrelation of Oppenheimer Discovery returns to help us make a trade decision. For example, suppose you find that Oppenheimer Discovery has exhibited high autocorrelation historically, and you observe that the mutual fund is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Oppenheimer Discovery regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Oppenheimer Discovery mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Oppenheimer Discovery mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Oppenheimer Discovery mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Oppenheimer Discovery Lagged Returns
When evaluating Oppenheimer Discovery's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Oppenheimer Discovery mutual fund have on its future price. Oppenheimer Discovery autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Oppenheimer Discovery autocorrelation shows the relationship between Oppenheimer Discovery mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Oppenheimer Discovery.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Other Information on Investing in Oppenheimer Mutual Fund
Oppenheimer Discovery financial ratios help investors to determine whether Oppenheimer Mutual Fund is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Oppenheimer with respect to the benefits of owning Oppenheimer Discovery security.
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