Oppenheimer Value Correlations

CGRWX Fund  USD 33.21  0.14  0.42%   
The current 90-days correlation between Oppenheimer Value and Invesco Municipal Income is 0.23 (i.e., Modest diversification). The correlation of Oppenheimer Value 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 Value Correlation With Market

Very poor diversification

The correlation between Oppenheimer Value A and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Value A and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Oppenheimer Value A. 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 housing.

Moving together with Oppenheimer Mutual Fund

  0.99OARDX Oppenheimer RisingPairCorr
  0.98AMHYX Invesco High YieldPairCorr
  0.9OSICX Oppenheimer StrategicPairCorr
  0.97OSMAX Oppenheimer InternationalPairCorr
  0.76OSMCX Oppenheimer InternationalPairCorr
  0.66HYINX Invesco High YieldPairCorr
  0.7ILAAX Invesco Income AllocationPairCorr
  0.98PXCCX Invesco Select RiskPairCorr
  0.67PXCIX Invesco Select RiskPairCorr
  0.7BRCYX Invesco Balanced RiskPairCorr
  0.65OTFCX Oppenheimer TargetPairCorr
  0.66EMLDX Invesco Emerging MarketsPairCorr
  0.68PXMQX Invesco Select RiskPairCorr
  0.65DIGGX Invesco DiscoveryPairCorr
  0.68PXMMX Invesco Select RiskPairCorr
  0.68OCAIX Oppenheimer AggrssvPairCorr
  0.67OCCIX Oppenheimer CnsrvtvPairCorr
  0.76MLPRX Oppenheimer Steelpath MlpPairCorr
  0.77MLPAX Oppenheimer Steelpath MlpPairCorr
  0.79MLPFX Oppenheimer Steelpath MlpPairCorr
  0.68MLPMX Oppenheimer Steelpath MlpPairCorr
  0.7MLPLX Oppenheimer Steelpath MlpPairCorr
  0.98OCMIX Oppenheimer ModeratePairCorr
  0.65OCRDX Oppenheimer RisingPairCorr
  0.67SCAUX Invesco Low VolatilityPairCorr
  0.67SCCUX Invesco Low VolatilityPairCorr
  0.69INBQX Aim Investment FundsPairCorr
  0.68SCIUX Invesco Low VolatilityPairCorr
  0.71INGFX Invesco OppenheimerPairCorr
  0.67FSIUX Invesco Dividend IncomePairCorr
  0.65ODIIX Oppenheimer DiscoveryPairCorr

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   
VMIIXVMINX
HYINXHYIFX
VMINXVMICX
VMIIXVMICX
AMHYXOARDX
OSMAXOARDX
  
High negative correlations   
HYINXVMICX
HYIFXVMICX
OSMCXVMICX
HYINXVMINX
HYIFXVMINX
HYINXVMIIX

Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Value 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 Value'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
VMICX  0.21 (0.04) 0.00 (0.43) 0.00 
 0.44 
 1.32 
VMINX  0.21 (0.04) 0.00 (0.41) 0.00 
 0.44 
 1.40 
VMIIX  0.21 (0.04) 0.00 (0.38) 0.00 
 0.53 
 1.41 
OARDX  0.59  0.10  0.10  0.25  0.44 
 1.79 
 4.09 
AMHYX  0.17  0.05 (0.21) 0.50  0.00 
 0.58 
 1.13 
OSICX  0.24  0.05 (0.21)(18.76) 0.00 
 0.64 
 1.56 
OSMAX  0.57  0.14  0.08  0.51  0.47 
 1.29 
 2.91 
OSMCX  0.56  0.17  0.06  20.16  0.47 
 1.30 
 2.93 
HYIFX  0.19  0.07 (0.22)(22.39) 0.00 
 0.58 
 1.15 
HYINX  0.15  0.00  0.00  0.00  0.00 
 0.58 
 0.89