Oppenheimer Intl Correlations

Mutual Funds . USA . 
Fund . Oppenheimer Intl Small
OSCIX Fund  USD 41.03  0.29  0.71%   
The current 90-days correlation between Oppenheimer Intl Small and Cohen Steers Real is 0.72 (i.e., Poor diversification). The correlation of Oppenheimer Intl 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 Intl Correlation With Market

Poor diversification

The correlation between Oppenheimer Intl Small and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Intl Small 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 Intl Small. 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

  0.65OSCNX Oppenheimer Main StreetPairCorr
  0.65OSCYX Oppenheimer Main StreetPairCorr
  0.66OSIIX Oppenheimer Global StrtgcPairCorr
  0.65OSINX Oppenheimer Strat IncmPairCorr
  0.66OSIYX Oppenheimer StrategicPairCorr
  1.0OSMNX Oppenheimer Intl SmallPairCorr
  1.0OSMYX Oppenheimer Intl SmallPairCorr
  0.65OSSIX Oppenheimer Main StreetPairCorr
  0.68ODINX Oppenheimer DiscoveryPairCorr
  0.68ODIYX Oppenheimer DiscoveryPairCorr
  0.85ODVNX Oppenheimer DevelopingPairCorr
  0.85ODVYX Oppenheimer DevelopingPairCorr
  0.91QMGIX Oppenheimer GlobalPairCorr
  0.91QMGRX Oppenheimer GlobalPairCorr
  0.91QMGYX Oppenheimer GlobalPairCorr
  0.91QMGAX Oppenheimer GlobalPairCorr
  0.91QMGCX Oppenheimer GlobalPairCorr
  0.65OEGYX Oppenhmr Discovery MidPairCorr
  0.65OEGIX Oppenhmr Discovery MidPairCorr
  0.65OEGNX Oppenhmr Discovery MidPairCorr
  0.65OEMIX Ophmr Eml DbtPairCorr
  0.67OEMNX Ophmr Eml DbtPairCorr
  0.64OEMYX Ophmr Eml DbtPairCorr

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   
REPIX
+ 1.0
DFREX
SEIRX
+ 1.0
DFREX
REPIX
+ 1.0
FREAX
SEIRX
+ 1.0
FREAX
SEIRX
+ 1.0
REPIX
DFREX
+ 0.99
CREFX
  
High negative correlations   
FORFX
- 0.02
FREAX
FORFX
- 0.01
REPIX

Risk-Adjusted Indicators

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