Oppenheimer Gbl Correlations

Mutual Funds . USA . 
Fund . Oppenheimer Gbl Alloc
QVGIX Fund  USD 20.60  0.01  0.05%   
The current 90-days correlation between Oppenheimer Gbl Alloc and Forum Real Estate is 0.31 (i.e., Weak diversification). The correlation of Oppenheimer Gbl 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 Gbl Correlation With Market

Very poor diversification

The correlation between Oppenheimer Gbl Alloc 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 Gbl Alloc 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 Gbl Alloc. 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

  0.98OARDX Oppenheimer RisingPairCorr
  0.98AMHYX Invesco High YieldPairCorr
  0.93OSICX Oppenheimer StrategicPairCorr
  0.98OSMAX Oppenheimer InternationalPairCorr
  0.98OSMCX Oppenheimer InternationalPairCorr
  0.98HYIFX Invesco High YieldPairCorr
  0.98HYINX Invesco High YieldPairCorr
  0.99ILAAX Invesco Income AllocationPairCorr
  0.99PXCCX Invesco Select RiskPairCorr
  0.63BRCRX Invesco Balanced RiskPairCorr
  0.64BRCNX Invesco Balanced RiskPairCorr
  0.99PXCIX Invesco Select RiskPairCorr
  0.62BRCCX Invesco Balanced RiskPairCorr
  0.64BRCAX Invesco Balanced RiskPairCorr
  0.65BRCYX Invesco Balanced RiskPairCorr
  0.99PXGGX Invesco Select RiskPairCorr
  0.98OTFCX Oppenheimer TargetPairCorr
  0.94EMLDX Invesco Emerging MarketsPairCorr
  0.99PXMQX Invesco Select RiskPairCorr
  0.99PXMSX Invesco Select RiskPairCorr
  0.98DIGGX Invesco DiscoveryPairCorr
  0.99PXMMX Invesco Select RiskPairCorr
  0.99PXQIX Invesco Select RiskPairCorr
  0.99OCAIX Oppenheimer AggrssvPairCorr
  0.99OCCIX Oppenheimer CnsrvtvPairCorr
  0.93STBAX Invesco Short TermPairCorr
  0.93STBCX Invesco Short TermPairCorr
  0.73MLPRX Oppenheimer Steelpath MlpPairCorr
  0.93STBYX Invesco Short TermPairCorr
  0.93STBRX Invesco Short TermPairCorr
  0.73MLPDX Oppenheimer Steelpath MlpPairCorr
  0.74MLPAX Oppenheimer Steelpath MlpPairCorr
  0.74MLPGX Oppenheimer Steelpath MlpPairCorr
  0.8MLPFX Oppenheimer Steelpath MlpPairCorr
  0.79MLPEX Steelpath SelectPairCorr
  0.65MLPMX Oppenheimer Steelpath MlpPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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