Oppenheimer Developing Correlations

ODVYX Fund

USD 48.08 0.11 0.23%

The current 90-days correlation between Oppenheimer Developing and Gmo Equity Allocation is 0.7 (i.e., Poor diversification). The correlation of Oppenheimer Developing 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 Developing Correlation With Market

Very weak diversification

The correlation between Oppenheimer Developing Markets and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Developing Markets 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 Developing Markets. 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 population.

Moving together with Oppenheimer Mutual Fund

0.64	OSIIX	Oppenheimer Global Strtgc	Pair Corr
0.62	OSIYX	Oppenheimer Strategic	Pair Corr
0.61	OTCYX	Oppenheimer Capital	Pair Corr
0.87	OCAYX	Oppenheimer Roc Ca	Pair Corr
0.82	ODINX	Oppenheimer Discovery	Pair Corr
0.82	ODIYX	Oppenheimer Discovery	Pair Corr
1.0	ODVNX	Oppenheimer Developing	Pair Corr
0.95	QMGIX	Oppenheimer Global	Pair Corr
0.94	QMGRX	Oppenheimer Global	Pair Corr
0.95	QMGYX	Oppenheimer Global	Pair Corr
0.9	QMGAX	Oppenheimer Global	Pair Corr
0.94	QMGCX	Oppenheimer Global	Pair Corr
0.71	CGRNX	Oppenheimer Value	Pair Corr
0.72	CGRYX	Oppenheimer Disciplined	Pair Corr
0.73	OEMIX	Ophmr Eml Dbt	Pair Corr
0.7	OEMNX	Ophmr Eml Dbt	Pair Corr
0.73	OEMYX	Ophmr Eml Dbt	Pair Corr

Related Correlations Analysis

	GMCQX	GMLVX	GWOAX	CBSYX	PHTYX	PBLIX	LMUSX
GMCQX		0.85	0.88	0.89	0.94	0.85	0.96	GMCQX
GMLVX	0.85		0.77	0.94	0.9	0.91	0.89	GMLVX
GWOAX	0.88	0.77		0.79	0.84	0.9	0.84	GWOAX
CBSYX	0.89	0.94	0.79		0.95	0.88	0.88	CBSYX
PHTYX	0.94	0.9	0.84	0.95		0.89	0.96	PHTYX
PBLIX	0.85	0.91	0.9	0.88	0.89		0.87	PBLIX
LMUSX	0.96	0.89	0.84	0.88	0.96	0.87		LMUSX
	GMCQX	GMLVX	GWOAX	CBSYX	PHTYX	PBLIX	LMUSX

Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Developing 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 Developing'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
GMCQX	0.63	0.07	0.07	0.14	0.80	(0.66)	1.43	(1.46)	4.18
GMLVX	0.65	0.06	0.04	0.17	0.81	(0.72)	1.35	(1.05)	4.38
GWOAX	0.57	0.08	0.02	0.93	0.65	(0.61)	1.22	(1.12)	3.52
CBSYX	0.35	0.03	(0.02)	0.14	0.33	(0.37)	0.71	(0.71)	2.04
PHTYX	0.47	0.03	0.01	0.11	0.62	(0.48)	1.02	(1.00)	3.22
PBLIX	0.50	0.06	(0.01)	0.65	0.69	(0.49)	1.02	(1.11)	3.26
LMUSX	0.56	0.03	0.03	0.11	0.76	(0.52)	1.25	(1.38)	3.59

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Oppenheimer Developing Correlations

Oppenheimer Developing Correlation With Market

Very weak diversification

Moving together with Oppenheimer Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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