Oppenheimer Cap Correlations

Mutual Funds . USA . 
Fund . Oppenheimer Cap Apprec
OTCNX Fund  USD 77.13  0.83  1.06%   
The current 90-days correlation between Oppenheimer Cap Apprec and Semiconductor Ultrasector Profund is 0.81 (i.e., Very poor diversification). The correlation of Oppenheimer Cap 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 Cap Correlation With Market

Poor diversification

The correlation between Oppenheimer Cap Apprec and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Cap Apprec 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 Cap Apprec. 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

  0.96OSCNX Oppenheimer Main StreetPairCorr
  0.98OSCIX Oppenheimer Intl SmallPairCorr
  0.96OSCYX Oppenheimer Main StreetPairCorr
  0.88OSIIX Oppenheimer Global StrtgcPairCorr
  0.85OSINX Oppenheimer Strat IncmPairCorr
  0.86OSIYX Oppenheimer StrategicPairCorr
  0.97OSMNX Oppenheimer Intl SmallPairCorr
  0.98OSMYX Oppenheimer Intl SmallPairCorr
  0.73OSPAX Oppenheimer Steelpath MlpPairCorr
  0.75OSPMX Oppenheimer Steelpath MlpPairCorr
  0.65OSPPX Oppenheimer Steelpath MlpPairCorr
  0.78OSPSX Oppenheimer Steelpath MlpPairCorr
  0.97OSSIX Oppenheimer Main StreetPairCorr
  1.0OTCYX Oppenheimer CapitalPairCorr
  0.73MLPOX Oppenheimer Steelpath MlpPairCorr
  0.65MLPNX Oppenheimer Steelpath MlpPairCorr
  0.78MLPTX Oppenheimer Steelpath MlpPairCorr
  0.75MLPZX Oppenheimer Steelpath MlpPairCorr
  0.99ODINX Oppenheimer DiscoveryPairCorr
  0.99ODIYX Oppenheimer DiscoveryPairCorr
  0.98ODVNX Oppenheimer DevelopingPairCorr
  0.98ODVYX Oppenheimer DevelopingPairCorr
  0.98QMGIX Oppenheimer GlobalPairCorr
  0.98QMGRX Oppenheimer GlobalPairCorr
  0.98QMGYX Oppenheimer GlobalPairCorr
  0.98QMGAX Oppenheimer GlobalPairCorr
  0.98QMGCX Oppenheimer GlobalPairCorr
  0.97CGRNX Oppenheimer ValuePairCorr
  0.97CGRYX Oppenheimer DisciplinedPairCorr
  0.99OEGYX Oppenhmr Discovery MidPairCorr
  0.99OEGIX Oppenhmr Discovery MidPairCorr
  0.98OEGNX Oppenhmr Discovery MidPairCorr
  0.91OEMIX Ophmr Eml DbtPairCorr
  0.99OGIYX Oppenheimer GlobalPairCorr
  0.99OGIIX Oppenheimer GlobalPairCorr
  0.99OGINX Oppenheimer Gr IncmPairCorr

Moving against Oppenheimer Mutual Fund

  0.73QOPNX Oppenheimer FlexiblePairCorr
  0.72QOPYX Oppenheimer FlexiblePairCorr
  0.71QOPIX 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 Cap 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 Cap'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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