Oppenheimer Senior Correlations

Mutual Funds . USA . 
Fund . Oppenheimer Senior Floating
OOSAX Fund  USD 6.49  0.00  0.00%   
The current 90-days correlation between Oppenheimer Senior and Deutsche Multi Asset Moderate is 0.28 (i.e., Modest diversification). The correlation of Oppenheimer Senior 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 Senior Correlation With Market

Modest diversification

The correlation between Oppenheimer Senior Floating and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Senior Floating 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 Senior Floating. 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 nation.

Moving together with Oppenheimer Mutual Fund

  0.98OARDX Oppenheimer RisingPairCorr
  0.98AMHYX Invesco High YieldPairCorr
  0.9OSICX Oppenheimer StrategicPairCorr
  0.97OSMAX Oppenheimer InternationalPairCorr
  0.97OSMCX Oppenheimer InternationalPairCorr
  0.98HYIFX Invesco High YieldPairCorr
  0.98HYINX Invesco High YieldPairCorr
  0.97ILAAX Invesco Income AllocationPairCorr
  0.96PXCCX Invesco Select RiskPairCorr
  0.66BRCRX Invesco Balanced RiskPairCorr
  0.67BRCNX Invesco Balanced RiskPairCorr
  0.96PXCIX Invesco Select RiskPairCorr
  0.65BRCCX Invesco Balanced RiskPairCorr
  0.67BRCAX Invesco Balanced RiskPairCorr
  0.68BRCYX Invesco Balanced RiskPairCorr
  0.98PXGGX Invesco Select RiskPairCorr
  0.98OTFCX Oppenheimer TargetPairCorr
  0.93EMLDX Invesco Emerging MarketsPairCorr
  0.98PXMQX Invesco Select RiskPairCorr
  0.98PXMSX Invesco Select RiskPairCorr
  0.97DIGGX Invesco DiscoveryPairCorr
  0.98PXMMX Invesco Select RiskPairCorr
  0.98PXQIX Invesco Select RiskPairCorr
  0.98OCAIX Oppenheimer AggrssvPairCorr
  0.96OCCIX Oppenheimer CnsrvtvPairCorr
  0.92STBAX Invesco Short TermPairCorr
  0.91STBCX Invesco Short TermPairCorr
  0.71MLPRX Oppenheimer Steelpath MlpPairCorr
  0.92STBYX Invesco Short TermPairCorr
  0.91STBRX Invesco Short TermPairCorr
  0.71MLPDX Oppenheimer Steelpath MlpPairCorr
  0.71MLPAX Oppenheimer Steelpath MlpPairCorr
  0.71MLPGX Oppenheimer Steelpath MlpPairCorr
  0.76MLPFX Oppenheimer Steelpath MlpPairCorr
  0.75MLPEX Steelpath SelectPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Senior 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 Senior'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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