Oppenheimer Disciplined Correlations

CGRYX Fund

USD 33.37 0.23 0.68%

The current 90-days correlation between Oppenheimer Disciplined and Transamerica International Equity is 0.5 (i.e., Very weak diversification). The correlation of Oppenheimer Disciplined 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 Disciplined Correlation With Market

Very poor diversification

The correlation between Oppenheimer Disciplined Value and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Disciplined Value and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Oppenheimer Disciplined Value. 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

0.67	OSCIX	Oppenheimer Intl Small	Pair Corr
0.61	OSMNX	Oppenheimer Intl Small	Pair Corr
0.67	OSMYX	Oppenheimer Intl Small	Pair Corr
0.79	OSPAX	Oppenheimer Steelpath Mlp	Pair Corr
0.79	OSPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.79	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.78	OSPSX	Oppenheimer Steelpath Mlp	Pair Corr
0.81	MLPOX	Oppenheimer Steelpath Mlp	Pair Corr
0.79	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.77	MLPTX	Oppenheimer Steelpath Mlp	Pair Corr
0.79	MLPZX	Oppenheimer Steelpath Mlp	Pair Corr
1.0	CGRNX	Oppenheimer Value	Pair Corr

Moving against Oppenheimer Mutual Fund

0.65	OFINX	Oppenheimer Corporate	Pair Corr
0.64	OFIIX	Oppenheimer Corporate	Pair Corr
0.64	OFIYX	Oppenheimer Corporate	Pair Corr

Related Correlations Analysis

	TRWIX	QMNIX	MSTFX	GIEAX	RBCIX	RTIUX	PAEIX
TRWIX		0.94	0.96	0.99	0.94	0.99	0.99	TRWIX
QMNIX	0.94		0.92	0.95	0.89	0.93	0.94	QMNIX
MSTFX	0.96	0.92		0.97	0.96	0.96	0.96	MSTFX
GIEAX	0.99	0.95	0.97		0.95	0.99	0.99	GIEAX
RBCIX	0.94	0.89	0.96	0.95		0.93	0.92	RBCIX
RTIUX	0.99	0.93	0.96	0.99	0.93		1.0	RTIUX
PAEIX	0.99	0.94	0.96	0.99	0.92	1.0		PAEIX
	TRWIX	QMNIX	MSTFX	GIEAX	RBCIX	RTIUX	PAEIX

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Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Disciplined 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 Disciplined'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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TRWIX	0.69	0.19	0.18	0.25	0.79	(0.69)	1.99	(1.73)	5.45
QMNIX	0.30	0.13	0.42	0.93	0.00	(0.41)	0.68	(0.39)	1.97
MSTFX	0.64	0.09	0.14	(0.48)	0.68	(0.71)	1.39	(1.41)	4.63
GIEAX	0.58	0.17	0.22	0.28	0.57	(0.63)	1.34	(1.10)	4.95
RBCIX	1.27	0.24	0.16	1.33	1.26	(1.50)	2.72	(2.64)	7.76
RTIUX	0.58	0.13	0.17	0.21	0.63	(0.64)	1.47	(1.41)	5.02
PAEIX	0.64	0.14	0.17	0.20	0.68	(0.70)	1.50	(1.22)	4.54

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