Oppenheimer Global Correlations

Mutual Funds . USA . 
Fund . Oppenheimer Global Multi Asset
QMGYX Fund  USD 12.72  0.03  0.24%   
The current 90-days correlation between Oppenheimer Global and Oppenheimer Main Street is -0.06 (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

Very weak diversification

The correlation between Oppenheimer Global Multi Asset and DJI is 0.58 (i.e., Very weak 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 manufacturing.

Moving together with Oppenheimer Mutual Fund

  0.96OSCNX Oppenheimer Main StreetPairCorr
  0.99OSCIX Oppenheimer Intl SmallPairCorr
  0.97OSCYX Oppenheimer Main StreetPairCorr
  0.9OSIIX Oppenheimer Global StrtgcPairCorr
  0.88OSINX Oppenheimer Strat IncmPairCorr
  0.89OSIYX Oppenheimer StrategicPairCorr
  0.98OSMNX Oppenheimer Intl SmallPairCorr
  0.99OSMYX Oppenheimer Intl SmallPairCorr
  0.78OSPAX Oppenheimer Steelpath MlpPairCorr
  0.79OSPMX Oppenheimer Steelpath MlpPairCorr
  0.7OSPPX Oppenheimer Steelpath MlpPairCorr
  0.66OSSIX Oppenheimer Main StreetPairCorr
  0.98OTCNX Oppenheimer Cap ApprecPairCorr
  0.98OTCYX Oppenheimer CapitalPairCorr
  0.69MLPNX Oppenheimer Steelpath MlpPairCorr
  0.83MLPTX Oppenheimer Steelpath MlpPairCorr
  0.66ODINX Oppenheimer DiscoveryPairCorr
  0.99ODVNX Oppenheimer DevelopingPairCorr
  0.98ODVYX Oppenheimer DevelopingPairCorr
  0.71QMGIX Oppenheimer GlobalPairCorr
  0.71QMGRX Oppenheimer GlobalPairCorr
  0.71QMGAX Oppenheimer GlobalPairCorr
  0.99QMGCX Oppenheimer GlobalPairCorr
  0.67CGRYX Oppenheimer DisciplinedPairCorr
  0.69OEGYX Oppenhmr Discovery MidPairCorr
  0.69OEGIX Oppenhmr Discovery MidPairCorr
  0.97OEGNX Oppenhmr Discovery MidPairCorr
  0.93OEMNX Ophmr Eml DbtPairCorr

Moving against Oppenheimer Mutual Fund

  0.38QOPIX Oppenheimer FlexiblePairCorr
  0.38QOPYX Oppenheimer FlexiblePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
OSCNX  0.86  0.27  0.11 (1.67) 0.81 
(1.00)
 2.26 
(1.83)
 6.08 
OSCIX  0.57  0.14  0.08  0.51  0.48 
(0.64)
 1.27 
(1.08)
 2.95 
OSCYX  0.86  0.09  0.09  0.22  0.83 
(0.99)
 2.25 
(1.79)
 6.03 
OSIIX  0.29  0.07 (0.14)(4.66) 0.00 
(0.46)
 0.65 
(0.62)
 1.64 
OSINX  0.24  0.05 (0.21)(12.15) 0.00 
(0.42)
 0.64 
(0.32)
 1.56 
OSIYX  0.25  0.06 (0.16) 7.50  0.00 
(0.41)
 0.64 
(0.32)
 1.63 
OSMNX  0.58  0.22  0.12 (80.19) 0.43 
(0.65)
 1.40 
(1.10)
 2.93 
OSMYX  0.57  0.14  0.08  0.51  0.48 
(0.64)
 1.28 
(1.11)
 2.94 
OSPAX  0.76  0.01 (0.05) 0.15  1.00 
(0.80)
 1.77 
(1.40)
 5.13 
OSPMX  0.73  0.02 (0.05) 0.18  0.85 
(0.80)
 1.61 
(1.37)
 4.13 

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