Oppenheimer Main Correlations

MIGYX Fund

USD 56.77 0.12 0.21%

The current 90-days correlation between Oppenheimer Main Street and Artisan Small Cap is 0.89 (i.e., Very poor diversification). The correlation of Oppenheimer Main 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 Main Correlation With Market

Poor diversification

The correlation between Oppenheimer Main Street and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Main Street 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 Main Street. 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

1.0	OMSIX	Oppenheimer Main Street	Pair Corr
0.89	OAAYX	Oppenheimer Active Allctn	Pair Corr
0.92	VTSAX	Vanguard Total Stock	Pair Corr
0.92	VFIAX	Vanguard 500 Index	Pair Corr
0.92	VTSMX	Vanguard Total Stock	Pair Corr
0.99	VITSX	Vanguard Total Stock	Pair Corr
0.92	VSMPX	Vanguard Total Stock	Pair Corr
0.92	VSTSX	Vanguard Total Stock	Pair Corr
0.92	VFINX	Vanguard 500 Index	Pair Corr
0.92	VFFSX	Vanguard 500 Index	Pair Corr
0.97	VINIX	Vanguard Institutional	Pair Corr
0.97	VIIIX	Vanguard Institutional	Pair Corr
0.64	PGLSX	Global Multi Strategy	Pair Corr
0.84	WMT	Walmart	Pair Corr
0.81	HPQ	HP Inc	Pair Corr

Moving against Oppenheimer Mutual Fund

0.58	TRV	The Travelers Companies	Pair Corr
0.55	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.38	ABNOX	Ab Bond Inflation	Pair Corr
0.36	VICSX	Vanguard Intermediate-ter	Pair Corr
0.35	KO	Coca Cola Sell-off Trend	Pair Corr
0.32	MRK	Merck Company	Pair Corr

Related Correlations Analysis

	APHSX	PFPMX	AVUAX	SEEGX	RFHTX
APHSX		0.85	0.19	0.96	0.71	APHSX
PFPMX	0.85		0.44	0.87	0.88	PFPMX
AVUAX	0.19	0.44		0.23	0.61	AVUAX
SEEGX	0.96	0.87	0.23		0.79	SEEGX
RFHTX	0.71	0.88	0.61	0.79		RFHTX
	APHSX	PFPMX	AVUAX	SEEGX	RFHTX

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Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Main 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 Main'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
APHSX	1.18	(0.13)	0.00	(0.11)	0.00	0.00	2.22	(3.16)	5.70
PFPMX	0.80	(0.15)	0.00	(0.16)	0.00	0.00	1.49	(2.06)	3.90
AVUAX	0.65	(0.01)	(0.01)	(0.01)	0.85	(0.65)	1.19	(1.49)	2.95
SEEGX	1.07	(0.11)	0.00	(0.10)	0.00	0.00	1.79	(2.87)	5.98
RFHTX	0.68	(0.06)	0.00	(0.08)	0.00	0.00	1.25	(1.47)	3.68

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