Oppenheimer Flexible Correlations

QOPIX Fund  USD 24.71  0.02  0.08%   
The current 90-days correlation between Oppenheimer Flexible and Nationwide Fund Class is 0.03 (i.e., Significant diversification). The correlation of Oppenheimer Flexible 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 Flexible Correlation With Market

Good diversification

The correlation between Oppenheimer Flexible Strategie and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Flexible Strategie 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 Flexible Strategies. 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

  1.0QOPNX Oppenheimer FlexiblePairCorr
  0.91QOPYX Oppenheimer FlexiblePairCorr

Moving against Oppenheimer Mutual Fund

  0.73OSCIX Oppenheimer Intl SmallPairCorr
  0.73OSMYX Oppenheimer Intl SmallPairCorr
  0.68OTCNX Oppenheimer Cap ApprecPairCorr
  0.68OTCYX Oppenheimer CapitalPairCorr
  0.68ODIYX Oppenheimer DiscoveryPairCorr
  0.66OSMNX Oppenheimer Intl SmallPairCorr
  0.62OSCNX Oppenheimer Main StreetPairCorr
  0.62OSCYX Oppenheimer Main StreetPairCorr
  0.62OSSIX Oppenheimer Main StreetPairCorr
  0.62ODINX Oppenheimer DiscoveryPairCorr
  0.59OSINX Oppenheimer Strat IncmPairCorr
  0.58OSIIX Oppenheimer Global StrtgcPairCorr
  0.5OSIYX Oppenheimer StrategicPairCorr
  0.43OSPAX Oppenheimer Steelpath MlpPairCorr
  0.43MLPOX Oppenheimer Steelpath MlpPairCorr
  0.42MLPTX Oppenheimer Steelpath MlpPairCorr
  0.37OSPMX Oppenheimer Steelpath MlpPairCorr
  0.33OSPPX Oppenheimer Steelpath MlpPairCorr
  0.32MLPNX Oppenheimer Steelpath MlpPairCorr
  0.71OGIYX Oppenheimer GlobalPairCorr
  0.71OGIIX Oppenheimer GlobalPairCorr
  0.71OGINX Oppenheimer Gr IncmPairCorr
  0.69OEGYX Oppenhmr Discovery MidPairCorr
  0.69OEGIX Oppenhmr Discovery MidPairCorr
  0.66QMGIX Oppenheimer GlobalPairCorr
  0.66QMGRX Oppenheimer GlobalPairCorr
  0.66QMGYX Oppenheimer GlobalPairCorr
  0.66QMGCX Oppenheimer GlobalPairCorr
  0.66OEMIX Ophmr Eml DbtPairCorr
  0.66OEMNX Ophmr Eml DbtPairCorr
  0.64OEMYX Ophmr Eml DbtPairCorr
  0.63ODVNX Oppenheimer DevelopingPairCorr
  0.63ODVYX Oppenheimer DevelopingPairCorr
  0.62OEGNX Oppenhmr Discovery MidPairCorr
  0.6CGRNX Oppenheimer ValuePairCorr
  0.6CGRYX Oppenheimer DisciplinedPairCorr
  0.6OGLIX Oppenheimer GlobalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Flexible 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 Flexible'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.