Oppenheimer Global Correlations

Mutual Funds . USA . 
Fund . Oppenheimer Global Fd
OGLNX Fund  USD 97.71  0.12  0.12%   
The current 90-days correlation between Oppenheimer Global and Balanced Allocation Fund is 0.89 (i.e., Very 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

Very poor diversification

The correlation between Oppenheimer Global Fd and DJI is 0.82 (i.e., Very 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 board of governors.

Moving together with Oppenheimer Mutual Fund

  0.97OSCNX Oppenheimer Main StreetPairCorr
  0.99OSCIX Oppenheimer Intl SmallPairCorr
  0.97OSCYX Oppenheimer Main StreetPairCorr
  0.89OSIIX Oppenheimer Global StrtgcPairCorr
  0.88OSINX Oppenheimer Strat IncmPairCorr
  0.89OSIYX Oppenheimer StrategicPairCorr
  0.99OSMNX Oppenheimer Intl SmallPairCorr
  0.99OSMYX Oppenheimer Intl SmallPairCorr
  0.79OSPAX Oppenheimer Steelpath MlpPairCorr
  0.8OSPMX Oppenheimer Steelpath MlpPairCorr
  0.71OSPPX Oppenheimer Steelpath MlpPairCorr
  0.84OSPSX Oppenheimer Steelpath MlpPairCorr
  0.97OSSIX Oppenheimer Main StreetPairCorr
  0.99OTCNX Oppenheimer Cap ApprecPairCorr
  0.99OTCYX Oppenheimer CapitalPairCorr
  0.79MLPOX Oppenheimer Steelpath MlpPairCorr
  0.71MLPNX Oppenheimer Steelpath MlpPairCorr
  0.84MLPTX Oppenheimer Steelpath MlpPairCorr
  0.8MLPZX Oppenheimer Steelpath MlpPairCorr
  0.99ODINX Oppenheimer DiscoveryPairCorr
  0.99ODIYX Oppenheimer DiscoveryPairCorr
  0.99ODVNX Oppenheimer DevelopingPairCorr
  0.99ODVYX Oppenheimer DevelopingPairCorr
  0.99QMGIX Oppenheimer GlobalPairCorr
  0.99QMGRX Oppenheimer GlobalPairCorr
  0.99QMGYX Oppenheimer GlobalPairCorr
  0.99QMGAX Oppenheimer GlobalPairCorr
  0.99QMGCX 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
  0.62OEMYX Ophmr Eml DbtPairCorr

Moving against Oppenheimer Mutual Fund

  0.69QOPNX Oppenheimer FlexiblePairCorr
  0.67QOPYX Oppenheimer FlexiblePairCorr
  0.66QOPIX 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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