Oppenheimer Senior Correlations

Mutual Funds . USA . 
Fund . Oppenheimer Senior Floating
OOSIX Fund  USD 6.48  0.01  0.15%   
The current 90-days correlation between Oppenheimer Senior and Auer Growth 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

Modest diversification

The correlation between Oppenheimer Senior Floating and DJI is 0.23 (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 gross domestic product.

Moving together with Oppenheimer Mutual Fund

  0.95OSCNX Oppenheimer Main StreetPairCorr
  0.97OSCIX Oppenheimer Intl SmallPairCorr
  0.95OSCYX Oppenheimer Main StreetPairCorr
  0.9OSIIX Oppenheimer Global StrtgcPairCorr
  0.89OSINX Oppenheimer Strat IncmPairCorr
  0.89OSIYX Oppenheimer StrategicPairCorr
  0.97OSMNX Oppenheimer Intl SmallPairCorr
  0.97OSMYX Oppenheimer Intl SmallPairCorr
  0.74OSPAX Oppenheimer Steelpath MlpPairCorr
  0.73OSPMX Oppenheimer Steelpath MlpPairCorr
  0.64OSPPX Oppenheimer Steelpath MlpPairCorr
  0.78OSPSX Oppenheimer Steelpath MlpPairCorr
  0.95OSSIX Oppenheimer Main StreetPairCorr
  0.98OTCNX Oppenheimer Cap ApprecPairCorr
  0.98OTCYX Oppenheimer CapitalPairCorr
  0.74MLPOX Oppenheimer Steelpath MlpPairCorr
  0.64MLPNX Oppenheimer Steelpath MlpPairCorr
  0.77MLPTX Oppenheimer Steelpath MlpPairCorr
  0.73MLPZX Oppenheimer Steelpath MlpPairCorr
  0.97ODINX Oppenheimer DiscoveryPairCorr
  0.97ODIYX Oppenheimer DiscoveryPairCorr
  0.96ODVNX Oppenheimer DevelopingPairCorr
  0.96ODVYX Oppenheimer DevelopingPairCorr
  0.97QMGIX Oppenheimer GlobalPairCorr
  0.97QMGRX Oppenheimer GlobalPairCorr
  0.97QMGYX Oppenheimer GlobalPairCorr
  0.97QMGAX Oppenheimer GlobalPairCorr
  0.97QMGCX Oppenheimer GlobalPairCorr
  0.96CGRNX Oppenheimer ValuePairCorr
  0.96CGRYX Oppenheimer DisciplinedPairCorr
  0.75OEGYX Oppenhmr Discovery MidPairCorr
  0.75OEGIX Oppenhmr Discovery MidPairCorr
  0.97OEGNX Oppenhmr Discovery MidPairCorr
  0.72OEMIX Ophmr Eml DbtPairCorr
  0.94OEMNX Ophmr Eml DbtPairCorr
  0.71OEMYX Ophmr Eml DbtPairCorr
  0.96OGIYX Oppenheimer GlobalPairCorr

Moving against Oppenheimer Mutual Fund

  0.7QOPNX Oppenheimer FlexiblePairCorr
  0.48QOPIX Oppenheimer FlexiblePairCorr
  0.48QOPYX 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 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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