Oppenheimer International Correlations

OSMCX Fund

USD 34.81 0.74 2.17%

The correlation of Oppenheimer International 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 International Correlation With Market

Poor diversification

The correlation between Oppenheimer International Smal and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer International Smal 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 International 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 private.

Moving together with Oppenheimer Mutual Fund

1.0

OSMAX

Oppenheimer International

Pair Corr

Moving against Oppenheimer Mutual Fund

0.45	BRCAX	Invesco Balanced Risk	Pair Corr
0.42	BRCRX	Invesco Balanced Risk	Pair Corr
0.42	BRCNX	Invesco Balanced Risk	Pair Corr
0.42	BRCCX	Invesco Balanced Risk	Pair Corr
0.4	VMINX	Invesco Municipal Income	Pair Corr
0.36	VMIIX	Invesco Municipal Income	Pair Corr
0.34	VMICX	Invesco Municipal Income	Pair Corr
0.33	HYIFX	Invesco High Yield	Pair Corr
0.42	BRCYX	Invesco Balanced Risk	Pair Corr
0.42	INBQX	Aim Investment Funds	Pair Corr
0.34	STMUX	Invesco Short Term	Pair Corr

Related Correlations Analysis

	IBVIX	VMICX	VMIBX	VMINX	VMIIX	IBVYX	GLALX	OARDX	AMHYX
IBVIX		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	IBVIX
VMICX	0.0		0.0	0.99	1.0	0.0	0.71	0.82	0.85	VMICX
VMIBX	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	VMIBX
VMINX	0.0	0.99	0.0		1.0	0.0	0.69	0.81	0.86	VMINX
VMIIX	0.0	1.0	0.0	1.0		0.0	0.71	0.82	0.86	VMIIX
IBVYX	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	IBVYX
GLALX	0.0	0.71	0.0	0.69	0.71	0.0		0.82	0.73	GLALX
OARDX	0.0	0.82	0.0	0.81	0.82	0.0	0.82		0.89	OARDX
AMHYX	0.0	0.85	0.0	0.86	0.86	0.0	0.73	0.89		AMHYX
	IBVIX	VMICX	VMIBX	VMINX	VMIIX	IBVYX	GLALX	OARDX	AMHYX

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

VMIIX	+ 1.0	VMICX
VMIIX	+ 1.0	VMINX
VMINX	+ 0.99	VMICX
AMHYX	+ 0.89	OARDX
AMHYX	+ 0.86	VMINX
AMHYX	+ 0.86	VMIIX

High negative correlations

AMHYX	- 0.0	IBVYX
OARDX	- 0.0	IBVYX
GLALX	- 0.0	IBVYX
IBVYX	- 0.0	VMIIX
IBVYX	- 0.0	VMINX
AMHYX	- 0.0	VMIBX

Risk-Adjusted Indicators

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

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
IBVIX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VMICX	0.14	0.07	0.16	16.33	0.00	(0.23)	0.44	(0.17)	0.97
VMIBX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VMINX	0.16	0.07	0.22	(9.13)	0.00	(0.28)	0.52	(0.17)	0.97
VMIIX	0.15	0.07	0.20	(6.12)	0.00	(0.26)	0.52	(0.17)	1.06
IBVYX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GLALX	0.32	0.01	(0.06)	(0.24)	0.46	(0.31)	0.65	(0.87)	1.97
OARDX	0.46	0.00	(0.01)	0.05	0.62	(0.45)	0.95	(0.78)	2.92
AMHYX	0.14	0.01	(0.08)	0.18	0.00	(0.34)	0.29	(0.28)	0.86

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