Oppenheimer Global Correlations

OGLIX Fund

USD 105.04 0.95 0.91%

The current 90-days correlation between Oppenheimer Global and Guidemark Large Cap is 0.7 (i.e., Poor 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

Poor diversification

The correlation between Oppenheimer Global Fd and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Global Fd 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 Fd. 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 gross domestic product.

Moving together with Oppenheimer Mutual Fund

0.7	IBM	International Business	Pair Corr
0.64	CAT	Caterpillar	Pair Corr
0.62	CVX	Chevron Corp	Pair Corr

Moving against Oppenheimer Mutual Fund

0.62	MCD	McDonalds	Pair Corr
0.32	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	GMLVX	FCLKX	QCERX	MTCGX	SBQAX	AMONX
GMLVX		0.99	0.98	0.97	0.98	0.96	GMLVX
FCLKX	0.99		0.99	0.99	0.98	0.98	FCLKX
QCERX	0.98	0.99		1.0	0.97	0.98	QCERX
MTCGX	0.97	0.99	1.0		0.96	0.99	MTCGX
SBQAX	0.98	0.98	0.97	0.96		0.97	SBQAX
AMONX	0.96	0.98	0.98	0.99	0.97		AMONX
	GMLVX	FCLKX	QCERX	MTCGX	SBQAX	AMONX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
GMLVX	0.49	0.18	0.10	0.61	0.00	(0.64)	1.55	(0.80)	4.06
FCLKX	0.59	0.19	0.20	0.43	0.00	(0.74)	2.04	(0.56)	4.14
QCERX	0.66	0.11	0.13	0.33	0.23	(0.82)	1.99	(0.73)	4.81
MTCGX	0.83	0.16	0.18	0.36	0.38	(1.00)	2.40	(1.11)	6.22
SBQAX	0.59	0.27	0.05	(1.66)	0.26	(0.73)	1.36	(0.86)	4.69
AMONX	0.70	0.34	0.11	(1.60)	0.35	(0.82)	2.22	(0.80)	4.88

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