Oppenheimer Senior Correlations

Mutual Funds . USA . 
Fund . Oppenheimer Senior Floating
OOSIX Fund  USD 6.48  0.00  0.00%   
The current 90-days correlation between Oppenheimer Senior and Payden Government Fund is 0.05 (i.e., Significant 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

Average diversification

The correlation between Oppenheimer Senior Floating and DJI is 0.14 (i.e., Average 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 gross domestic product.

Moving together with Oppenheimer Mutual Fund

  0.92OSCNX Oppenheimer Main StreetPairCorr
  0.92OSCYX Oppenheimer Main StreetPairCorr
  0.88OSIIX Oppenheimer Global StrtgcPairCorr
  0.85OSINX Oppenheimer Strat IncmPairCorr
  0.84OSIYX Oppenheimer StrategicPairCorr
  0.95OSMNX Oppenheimer Intl SmallPairCorr
  0.85OSMYX Oppenheimer Intl SmallPairCorr
  0.85OTCNX Oppenheimer Cap ApprecPairCorr
  0.97OTCYX Oppenheimer CapitalPairCorr
  0.62MLPTX Oppenheimer Steelpath MlpPairCorr
  0.95ODINX Oppenheimer DiscoveryPairCorr
  0.94ODVNX Oppenheimer DevelopingPairCorr
  0.84ODVYX Oppenheimer DevelopingPairCorr
  0.95QMGIX Oppenheimer GlobalPairCorr
  0.95QMGCX Oppenheimer GlobalPairCorr
  0.61OEMIX Ophmr Eml DbtPairCorr
  0.61OEMNX Ophmr Eml DbtPairCorr
  0.61OEMYX Ophmr Eml DbtPairCorr

Moving against Oppenheimer Mutual Fund

  0.33OCAYX Oppenheimer Roc CaPairCorr
  0.48QOPNX Oppenheimer FlexiblePairCorr
  0.46QOPYX Oppenheimer FlexiblePairCorr
  0.45QOPIX Oppenheimer FlexiblePairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
DPIGX
+ 0.99
PYUSX
RFBAX
+ 0.97
DPIGX
RFBAX
+ 0.95
PYUSX
DNCGX
+ 0.91
DPIGX
RFBAX
+ 0.9
DNCGX
DNCGX
+ 0.88
PYUSX
  
High negative correlations   
RYAQX
- 0.06
PYUSX
DPIGX
- 0.02
RYAQX

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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