Oppenheimer Main Correlations

Mutual Funds USA . 
Fund . Oppenheimer Main Street
OSCNX Fund  USD 21.44  0.02  0.09%   
The current 90-days correlation between Oppenheimer Main Street and Transamerica Short Term Bond is 0.18 (i.e., Average diversification). The correlation of Oppenheimer Main 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 Main Correlation With Market

Almost no diversification

The correlation between Oppenheimer Main Street and DJI is 0.92 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Main Street 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 Main Street. 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 board of governors.

Moving together with Oppenheimer Mutual Fund

  0.94OSCIX Oppenheimer Intl SmallPairCorr
  1.0OSCYX Oppenheimer Main StreetPairCorr
  0.85OSIIX Oppenheimer Global StrtgcPairCorr
  0.85OSINX Oppenheimer Strat IncmPairCorr
  0.85OSIYX Oppenheimer StrategicPairCorr
  0.94OSMNX Oppenheimer Intl SmallPairCorr
  0.94OSMYX Oppenheimer Intl SmallPairCorr
  0.71OSPAX Oppenheimer Steelpath MlpPairCorr
  0.73OSPMX Oppenheimer Steelpath MlpPairCorr
  0.61OSPPX Oppenheimer Steelpath MlpPairCorr
  0.78OSPSX Oppenheimer Steelpath MlpPairCorr
  1.0OSSIX Oppenheimer Main StreetPairCorr
  0.96OTCNX Oppenheimer Cap ApprecPairCorr
  0.96OTCYX Oppenheimer CapitalPairCorr
  0.71MLPOX Oppenheimer Steelpath MlpPairCorr
  0.62MLPNX Oppenheimer Steelpath MlpPairCorr
  0.78MLPTX Oppenheimer Steelpath MlpPairCorr
  0.73MLPZX Oppenheimer Steelpath MlpPairCorr
  0.98ODINX Oppenheimer DiscoveryPairCorr
  0.98ODIYX Oppenheimer DiscoveryPairCorr
  0.97ODVNX Oppenheimer DevelopingPairCorr
  0.97ODVYX Oppenheimer DevelopingPairCorr
  0.96QMGIX Oppenheimer GlobalPairCorr
  0.96QMGRX Oppenheimer GlobalPairCorr
  0.96QMGYX Oppenheimer GlobalPairCorr
  0.96QMGAX Oppenheimer GlobalPairCorr
  0.96QMGCX Oppenheimer GlobalPairCorr
  0.97CGRNX Oppenheimer ValuePairCorr
  0.97CGRYX Oppenheimer DisciplinedPairCorr
  0.97OEGYX Oppenhmr Discovery MidPairCorr
  0.97OEGIX Oppenhmr Discovery MidPairCorr
  0.97OEGNX Oppenhmr Discovery MidPairCorr
  0.84OEMIX Ophmr Eml DbtPairCorr
  0.84OEMNX Ophmr Eml DbtPairCorr
  0.84OEMYX Ophmr Eml DbtPairCorr

Moving against Oppenheimer Mutual Fund

  0.49QOPNX Oppenheimer FlexiblePairCorr
  0.47QOPIX 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 Main 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 Main'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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