Oppenheimer Gold Correlations

OGMIX Fund

USD 36.87 0.08 0.22%

The current 90-days correlation between Oppenheimer Gold Special and Franklin Utilities Fund is 0.1 (i.e., Average diversification). The correlation of Oppenheimer Gold 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 Gold Correlation With Market

Very good diversification

The correlation between Oppenheimer Gold Special and DJI is -0.41 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Gold Special 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 Gold Special. 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

0.61	OSIIX	Oppenheimer Global Strtgc	Pair Corr
0.67	OSINX	Oppenheimer Strat Incm	Pair Corr
0.64	OSIYX	Oppenheimer Strategic	Pair Corr
1.0	OGMNX	Oppenheimer Gold Spec	Pair Corr
0.7	OIBIX	Oppenheimer Intl	Pair Corr
0.66	OIBNX	Oppenheimer International	Pair Corr
0.62	OOSIX	Oppenheimer Senior	Pair Corr
0.82	SGGDX	First Eagle Gold	Pair Corr
0.93	FEGIX	First Eagle Gold	Pair Corr

Moving against Oppenheimer Mutual Fund

0.53	XDSMX	Dreyfus Strategic	Pair Corr
0.45	OPAYX	Oppenheimer Roc Penn	Pair Corr
0.38	XNXJX	Nuveen New Jersey	Pair Corr
0.31	ONYYX	Oppenheimer Rchster Amt	Pair Corr

Related Correlations Analysis

	FUFRX	OGMYX	RNWGX	WFPRX	BTMKX
FUFRX		0.44	0.87	0.88	0.86	FUFRX
OGMYX	0.44		0.55	0.46	0.61	OGMYX
RNWGX	0.87	0.55		0.98	0.96	RNWGX
WFPRX	0.88	0.46	0.98		0.92	WFPRX
BTMKX	0.86	0.61	0.96	0.92		BTMKX
	FUFRX	OGMYX	RNWGX	WFPRX	BTMKX

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Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Gold 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 Gold'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
FUFRX	0.68	0.05	(0.03)	0.23	0.88	(0.66)	1.34	(1.36)	4.45
OGMYX	1.38	0.17	(0.03)	(0.07)	1.99	(1.33)	2.75	(3.67)	10.47
RNWGX	0.47	0.17	0.19	0.46	0.00	(0.55)	1.88	(0.85)	3.42
WFPRX	0.69	0.04	0.02	0.18	0.65	(0.76)	1.86	(1.21)	4.43
BTMKX	0.57	0.20	0.08	(2.67)	0.45	(0.65)	1.29	(1.14)	3.30

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