Oppenheimer Global Correlations

Mutual Funds . USA . 
Fund . Oppenheimer Global Multi Asset
QMGCX Fund  USD 11.96  0.02  0.17%   
The current 90-days correlation between Oppenheimer Global and Balanced Fund Retail is -0.1 (i.e., Good 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

Good diversification

The correlation between Oppenheimer Global Multi Asset and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Global Multi Asset 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 Multi Asset. 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 main economic indicators.

Moving together with Oppenheimer Mutual Fund

  0.7OSCNX Oppenheimer Main StreetPairCorr
  0.73OSCIX Oppenheimer Intl SmallPairCorr
  0.7OSCYX Oppenheimer Main StreetPairCorr
  0.68OSIIX Oppenheimer Global StrtgcPairCorr
  0.86OSINX Oppenheimer Strat IncmPairCorr
  0.76OSIYX Oppenheimer StrategicPairCorr
  0.99OSMNX Oppenheimer Intl SmallPairCorr
  0.99OSMYX Oppenheimer Intl SmallPairCorr
  0.76OSPAX Oppenheimer Steelpath MlpPairCorr
  0.64OSPMX Oppenheimer Steelpath MlpPairCorr
  0.8OSPSX Oppenheimer Steelpath MlpPairCorr
  0.95OSSIX Oppenheimer Main StreetPairCorr
  0.84OTCNX Oppenheimer Cap ApprecPairCorr
  0.98OTCYX Oppenheimer CapitalPairCorr
  0.76MLPOX Oppenheimer Steelpath MlpPairCorr
  0.69MLPTX Oppenheimer Steelpath MlpPairCorr
  0.74MLPZX Oppenheimer Steelpath MlpPairCorr
  0.98ODINX Oppenheimer DiscoveryPairCorr
  0.98ODIYX Oppenheimer DiscoveryPairCorr
  0.83ODVNX Oppenheimer DevelopingPairCorr
  0.98ODVYX Oppenheimer DevelopingPairCorr
  1.0QMGIX Oppenheimer GlobalPairCorr
  1.0QMGRX Oppenheimer GlobalPairCorr
  1.0QMGYX Oppenheimer GlobalPairCorr
  1.0QMGAX Oppenheimer GlobalPairCorr
  0.95CGRNX Oppenheimer ValuePairCorr
  0.95CGRYX Oppenheimer DisciplinedPairCorr
  0.97OEGYX Oppenhmr Discovery MidPairCorr
  0.97OEGIX Oppenhmr Discovery MidPairCorr
  0.75OEGNX Oppenhmr Discovery MidPairCorr
  0.91OEMIX Ophmr Eml DbtPairCorr
  0.71OEMNX Ophmr Eml DbtPairCorr
  0.71OEMYX Ophmr Eml DbtPairCorr

Moving against Oppenheimer Mutual Fund

  0.65QOPNX Oppenheimer FlexiblePairCorr
  0.63QOPIX Oppenheimer FlexiblePairCorr
  0.63QOPYX 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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