Oppenheimer Global Correlations

Mutual Funds . USA . 
Fund . Oppenheimer Global Gr
OGIYX Fund  USD 50.81  0.31  0.61%   
The current 90-days correlation between Oppenheimer Global and Evaluator Moderate Rms is 0.96 (i.e., Almost no 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

Almost no diversification

The correlation between Oppenheimer Global Gr and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Global Gr 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 Gr. 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

  0.98OSCNX Oppenheimer Main StreetPairCorr
  0.99OSCIX Oppenheimer Intl SmallPairCorr
  0.98OSCYX Oppenheimer Main StreetPairCorr
  0.9OSIIX Oppenheimer Global StrtgcPairCorr
  0.91OSINX Oppenheimer Strat IncmPairCorr
  0.87OSIYX Oppenheimer StrategicPairCorr
  0.96OSMNX Oppenheimer Intl SmallPairCorr
  0.99OSMYX Oppenheimer Intl SmallPairCorr
  0.87OSPAX Oppenheimer Steelpath MlpPairCorr
  0.87OSPMX Oppenheimer Steelpath MlpPairCorr
  0.7OSPPX Oppenheimer Steelpath MlpPairCorr
  0.8OSPSX Oppenheimer Steelpath MlpPairCorr
  0.98OSSIX Oppenheimer Main StreetPairCorr
  0.99OTCNX Oppenheimer Cap ApprecPairCorr
  0.99OTCYX Oppenheimer CapitalPairCorr
  0.75MLPOX Oppenheimer Steelpath MlpPairCorr
  0.84MLPNX Oppenheimer Steelpath MlpPairCorr
  0.91MLPTX Oppenheimer Steelpath MlpPairCorr
  0.74MLPZX Oppenheimer Steelpath MlpPairCorr
  0.99ODINX Oppenheimer DiscoveryPairCorr
  0.97ODIYX Oppenheimer DiscoveryPairCorr
  0.98ODVNX Oppenheimer DevelopingPairCorr
  0.98ODVYX Oppenheimer DevelopingPairCorr
  0.98QMGIX Oppenheimer GlobalPairCorr
  0.98QMGRX Oppenheimer GlobalPairCorr
  0.98QMGYX Oppenheimer GlobalPairCorr
  0.95QMGAX Oppenheimer GlobalPairCorr
  0.98QMGCX Oppenheimer GlobalPairCorr
  0.97CGRNX Oppenheimer ValuePairCorr
  0.97CGRYX Oppenheimer DisciplinedPairCorr
  0.99OEGYX Oppenhmr Discovery MidPairCorr
  0.99OEGIX Oppenhmr Discovery MidPairCorr
  0.99OEGNX Oppenhmr Discovery MidPairCorr
  0.92OEMIX Ophmr Eml DbtPairCorr
  0.92OEMNX Ophmr Eml DbtPairCorr
  0.92OEMYX Ophmr Eml DbtPairCorr

Moving against Oppenheimer Mutual Fund

  0.78QOPNX Oppenheimer FlexiblePairCorr
  0.76QOPIX Oppenheimer FlexiblePairCorr
  0.73QOPYX Oppenheimer FlexiblePairCorr

Related Correlations Analysis

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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.

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