Oppenheimer Rochester Correlations

LTNCX Fund

USD 2.77 0.01 0.36%

The current 90-days correlation between Oppenheimer Rochester and Jhancock Diversified Macro is -0.08 (i.e., Good diversification). The correlation of Oppenheimer Rochester 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 Rochester Correlation With Market

Good diversification

The correlation between Oppenheimer Rochester Ltdterm 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 Rochester Ltdterm and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Oppenheimer Rochester Ltdterm. 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

0.83	VMICX	Invesco Municipal Income	Pair Corr
0.85	VMINX	Invesco Municipal Income	Pair Corr
0.85	VMIIX	Invesco Municipal Income	Pair Corr
0.73	AMHYX	Invesco High Yield	Pair Corr
0.69	HYIFX	Invesco High Yield	Pair Corr
0.68	HYINX	Invesco High Yield	Pair Corr
0.68	ILAAX	Invesco Income Allocation	Pair Corr
0.65	PXCCX	Invesco Select Risk	Pair Corr
0.65	PXCIX	Invesco Select Risk	Pair Corr
0.65	PXMQX	Invesco Select Risk	Pair Corr
0.65	PXMSX	Invesco Select Risk	Pair Corr
0.65	PXMMX	Invesco Select Risk	Pair Corr
0.92	OCACX	Oppenheimer Roc Ca	Pair Corr
0.67	OCCIX	Oppenheimer Cnsrvtv	Pair Corr
0.61	STBAX	Invesco Short Term	Pair Corr
0.61	STBCX	Invesco Short Term	Pair Corr

Related Correlations Analysis

	JDJRX	MDBLX	DSCPX	SIGWX	TBDQX	PDNIX	ACDOX
JDJRX		0.46	-0.07	-0.27	0.09	0.52	0.42	JDJRX
MDBLX	0.46		0.04	0.25	0.23	0.91	0.96	MDBLX
DSCPX	-0.07	0.04		0.85	0.72	0.37	-0.21	DSCPX
SIGWX	-0.27	0.25	0.85		0.68	0.43	0.07	SIGWX
TBDQX	0.09	0.23	0.72	0.68		0.52	0.06	TBDQX
PDNIX	0.52	0.91	0.37	0.43	0.52		0.76	PDNIX
ACDOX	0.42	0.96	-0.21	0.07	0.06	0.76		ACDOX
	JDJRX	MDBLX	DSCPX	SIGWX	TBDQX	PDNIX	ACDOX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

ACDOX	+ 0.96	MDBLX
PDNIX	+ 0.91	MDBLX
SIGWX	+ 0.85	DSCPX
ACDOX	+ 0.76	PDNIX
TBDQX	+ 0.72	DSCPX
TBDQX	+ 0.68	SIGWX

High negative correlations

SIGWX	- 0.27	JDJRX
ACDOX	- 0.21	DSCPX
DSCPX	- 0.07	JDJRX

Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Rochester 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 Rochester'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
JDJRX	0.39	(0.01)	0.00	0.77	0.00	0.00	0.77	(0.88)	2.54
MDBLX	0.23	(0.05)	0.00	(0.78)	0.00	0.00	0.37	(0.61)	1.35
DSCPX	0.77	0.02	0.01	0.12	0.93	(0.95)	1.69	(1.29)	8.87
SIGWX	0.78	(0.05)	0.00	(0.11)	0.00	0.00	1.43	(1.38)	9.10
TBDQX	0.98	(0.07)	0.00	0.36	0.00	0.00	1.47	(2.39)	13.56
PDNIX	0.16	(0.03)	0.00	(0.62)	0.00	0.00	0.31	(0.41)	1.14
ACDOX	0.25	(0.07)	0.00	(0.86)	0.00	0.00	0.43	(0.76)	1.64

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