Oppenheimer International Correlations
| OIDAX Fund | USD 15.88 0.02 0.13% |
The correlation of Oppenheimer International 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Oppenheimer International moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Oppenheimer International Diversified moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Very poor diversification
The correlation between Oppenheimer International Dive and NYA is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer International Dive and NYA in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Oppenheimer International could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Oppenheimer International when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Oppenheimer International - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Oppenheimer International Diversified to buy it.
Moving together with Oppenheimer Mutual Fund
| 0.65 | VMINX | Invesco Municipal | PairCorr |
| 0.65 | VMIIX | Invesco Municipal | PairCorr |
| 0.76 | AMHYX | Invesco High Yield | PairCorr |
| 0.71 | ACERX | Invesco Equity And | PairCorr |
| 0.72 | REINX | Invesco Real Estate | PairCorr |
| 0.82 | ITYYX | Invesco Technology | PairCorr |
| 0.81 | RERFX | Europacific Growth | PairCorr |
| 0.81 | AEPFX | Europacific Growth | PairCorr |
| 0.81 | CEUAX | Europacific Growth | PairCorr |
| 0.82 | CEUCX | Europacific Growth | PairCorr |
| 0.82 | RERCX | Europacific Growth | PairCorr |
| 0.81 | REREX | Europacific Growth | PairCorr |
| 0.81 | RERGX | Europacific Growth | PairCorr |
| 0.81 | CEUFX | Europacific Growth | PairCorr |
| 0.82 | CEUEX | Europacific Growth | PairCorr |
Related Correlations Analysis
| 0.71 | 0.67 | 0.96 | 0.66 | TWVLX | ||
| 0.71 | 0.83 | 0.79 | 0.84 | TWCUX | ||
| 0.67 | 0.83 | 0.8 | 0.99 | TWCGX | ||
| 0.96 | 0.79 | 0.8 | 0.79 | BIGRX | ||
| 0.66 | 0.84 | 0.99 | 0.79 | TWCIX | ||
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Risk-Adjusted Indicators
There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer International 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 International'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| TWVLX | 0.47 | (0.03) | (0.05) | 0.02 | 0.62 | 0.88 | 3.22 | |||
| TWCUX | 0.78 | 0.04 | (0.01) | 1.23 | 0.90 | 1.51 | 5.71 | |||
| TWCGX | 0.82 | (0.02) | (0.02) | 0.03 | 0.90 | 1.81 | 5.20 | |||
| BIGRX | 0.51 | (0.01) | (0.02) | 0.04 | 0.65 | 0.97 | 2.89 | |||
| TWCIX | 0.80 | (0.04) | (0.03) | 0.01 | 0.96 | 1.62 | 4.81 |
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Already Invested in Oppenheimer International Diversified?
The danger of trading Oppenheimer International Diversified is mainly related to its market volatility and Mutual Fund specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Oppenheimer International is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Oppenheimer International. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Oppenheimer International is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Oppenheimer International Diversified. Also, note that the market value of any mutual fund could be tightly coupled with the direction of predictive economic indicators such as signals in nation. Note that the Oppenheimer International information on this page should be used as a complementary analysis to other Oppenheimer International's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.