Oppenheimer Global Correlations

Mutual Funds . USA . 
Fund . Oppenheimer Global Allocation
QGRIX Fund  USD 20.76  0.01  0.05%   
The current 90-days correlation between Oppenheimer Global and Sa Emerging Markets is 0.19 (i.e., Average diversification). The correlation of Oppenheimer Global 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 Global Correlation With Market

Very poor diversification

The correlation between Oppenheimer Global Allocation and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Global Allocation 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 Global Allocation. 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

  0.96OSCNX Oppenheimer Main StreetPairCorr
  0.98OSCIX Oppenheimer Intl SmallPairCorr
  0.96OSCYX Oppenheimer Main StreetPairCorr
  0.93OSIIX Oppenheimer Global StrtgcPairCorr
  0.91OSINX Oppenheimer Strat IncmPairCorr
  0.92OSIYX Oppenheimer StrategicPairCorr
  0.98OSMNX Oppenheimer Intl SmallPairCorr
  0.98OSMYX Oppenheimer Intl SmallPairCorr
  0.76OSPAX Oppenheimer Steelpath MlpPairCorr
  0.75OSPMX Oppenheimer Steelpath MlpPairCorr
  0.68OSPPX Oppenheimer Steelpath MlpPairCorr
  0.81OSPSX Oppenheimer Steelpath MlpPairCorr
  0.96OSSIX Oppenheimer Main StreetPairCorr
  0.98OTCNX Oppenheimer Cap ApprecPairCorr
  0.98OTCYX Oppenheimer CapitalPairCorr
  0.76MLPOX Oppenheimer Steelpath MlpPairCorr
  0.68MLPNX Oppenheimer Steelpath MlpPairCorr
  0.81MLPTX Oppenheimer Steelpath MlpPairCorr
  0.75MLPZX Oppenheimer Steelpath MlpPairCorr
  0.98ODINX Oppenheimer DiscoveryPairCorr
  0.98ODIYX Oppenheimer DiscoveryPairCorr
  0.97ODVNX Oppenheimer DevelopingPairCorr
  0.97ODVYX 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
  0.98OEGYX Oppenhmr Discovery MidPairCorr
  0.98OEGIX Oppenhmr Discovery MidPairCorr
  0.98OEGNX Oppenhmr Discovery MidPairCorr
  0.94OEMIX Ophmr Eml DbtPairCorr
  0.94OEMNX Ophmr Eml DbtPairCorr
  0.94OEMYX Ophmr Eml DbtPairCorr

Moving against Oppenheimer Mutual Fund

  0.66QOPNX Oppenheimer FlexiblePairCorr
  0.65QOPYX Oppenheimer FlexiblePairCorr
  0.64QOPIX 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 Global 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 Global'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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