Oppenheimer Main Correlations

Mutual Funds USA . 
Fund . Oppenheimer Main Street
OSSIX Fund  USD 23.04  0.11  0.48%   
The current 90-days correlation between Oppenheimer Main Street and Fidelity Advisor Health is -0.05 (i.e., Good 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

Very poor diversification

The correlation between Oppenheimer Main Street and DJI is 0.86 (i.e., Very poor 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 gross domestic product.

Moving together with Oppenheimer Mutual Fund

  0.97OSCNX Oppenheimer Main StreetPairCorr
  0.96OSCIX Oppenheimer Intl SmallPairCorr
  1.0OSCYX Oppenheimer Main StreetPairCorr
  0.86OSIIX Oppenheimer Global StrtgcPairCorr
  0.81OSINX Oppenheimer Strat IncmPairCorr
  0.84OSIYX Oppenheimer StrategicPairCorr
  0.95OSMNX Oppenheimer Intl SmallPairCorr
  0.96OSMYX Oppenheimer Intl SmallPairCorr
  0.76OSPAX Oppenheimer Steelpath MlpPairCorr
  0.79OSPMX Oppenheimer Steelpath MlpPairCorr
  0.69OSPPX Oppenheimer Steelpath MlpPairCorr
  0.81OSPSX Oppenheimer Steelpath MlpPairCorr
  0.97OTCNX Oppenheimer Cap ApprecPairCorr
  0.97OTCYX Oppenheimer CapitalPairCorr
  0.76MLPOX Oppenheimer Steelpath MlpPairCorr
  0.69MLPNX Oppenheimer Steelpath MlpPairCorr
  0.81MLPTX Oppenheimer Steelpath MlpPairCorr
  0.76MLPZX Oppenheimer Steelpath MlpPairCorr
  0.98ODINX Oppenheimer DiscoveryPairCorr
  0.95ODIYX Oppenheimer DiscoveryPairCorr
  0.97ODVNX Oppenheimer DevelopingPairCorr
  0.96ODVYX Oppenheimer DevelopingPairCorr
  0.97QMGIX Oppenheimer GlobalPairCorr
  0.96QMGRX Oppenheimer GlobalPairCorr
  0.97QMGYX Oppenheimer GlobalPairCorr
  0.97QMGAX Oppenheimer GlobalPairCorr
  0.95QMGCX Oppenheimer GlobalPairCorr
  0.95CGRNX Oppenheimer ValuePairCorr
  0.97CGRYX Oppenheimer DisciplinedPairCorr
  0.97OEGYX Oppenhmr Discovery MidPairCorr
  0.97OEGIX Oppenhmr Discovery MidPairCorr
  0.97OEGNX Oppenhmr Discovery MidPairCorr
  0.89OEMIX Ophmr Eml DbtPairCorr
  0.88OEMNX Ophmr Eml DbtPairCorr
  0.87OEMYX Ophmr Eml DbtPairCorr

Moving against Oppenheimer Mutual Fund

  0.66QOPYX Oppenheimer FlexiblePairCorr
  0.65QOPIX Oppenheimer FlexiblePairCorr
  0.63QOPNX 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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