Oppenheimer Developing Correlations

ODVNX Fund

USD 37.99 0.63 1.63%

The current 90-days correlation between Oppenheimer Developing and Jhancock Global Equity is 0.26 (i.e., Modest diversification). The correlation of Oppenheimer Developing 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 Developing Correlation With Market

Very weak diversification

The correlation between Oppenheimer Developing Markets and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Developing Markets 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 Developing Markets. 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 board of governors.

Moving together with Oppenheimer Mutual Fund

0.87	OSCIX	Oppenheimer Intl Small	Pair Corr
0.76	OSIIX	Oppenheimer Global Strtgc	Pair Corr
0.76	OSINX	Oppenheimer Strat Incm	Pair Corr
0.76	OSIYX	Oppenheimer Strategic	Pair Corr
0.82	OSMNX	Oppenheimer Intl Small	Pair Corr
0.87	OSMYX	Oppenheimer Intl Small	Pair Corr
0.61	OSPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.61	MLPZX	Oppenheimer Steelpath Mlp	Pair Corr
1.0	ODVYX	Oppenheimer Developing	Pair Corr
0.86	QMGIX	Oppenheimer Global	Pair Corr
0.86	QMGRX	Oppenheimer Global	Pair Corr
0.86	QMGYX	Oppenheimer Global	Pair Corr
0.86	QMGAX	Oppenheimer Global	Pair Corr
0.87	QMGCX	Oppenheimer Global	Pair Corr
0.77	OEMIX	Ophmr Eml Dbt	Pair Corr
0.76	OEMNX	Ophmr Eml Dbt	Pair Corr
0.77	OEMYX	Ophmr Eml Dbt	Pair Corr

Moving against Oppenheimer Mutual Fund

0.45	ODINX	Oppenheimer Discovery	Pair Corr
0.32	OTCNX	Oppenheimer Cap Apprec	Pair Corr
0.31	OTCYX	Oppenheimer Capital	Pair Corr
0.57	OFINX	Oppenheimer Corporate	Pair Corr
0.53	OFIIX	Oppenheimer Corporate	Pair Corr
0.53	OFIYX	Oppenheimer Corporate	Pair Corr
0.45	ODIYX	Oppenheimer Discovery	Pair Corr
0.42	OEGYX	Oppenhmr Discovery Mid	Pair Corr
0.42	OEGIX	Oppenhmr Discovery Mid	Pair Corr
0.42	OEGNX	Oppenhmr Discovery Mid	Pair Corr

Related Correlations Analysis

	JGECX	RTIUX	PEIRX	MSTFX	RBCIX	SMNIX
JGECX		0.49	0.67	0.46	0.36	-0.01	JGECX
RTIUX	0.49		0.83	0.96	0.93	0.48	RTIUX
PEIRX	0.67	0.83		0.82	0.78	0.35	PEIRX
MSTFX	0.46	0.96	0.82		0.96	0.57	MSTFX
RBCIX	0.36	0.93	0.78	0.96		0.64	RBCIX
SMNIX	-0.01	0.48	0.35	0.57	0.64		SMNIX
	JGECX	RTIUX	PEIRX	MSTFX	RBCIX	SMNIX

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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

MSTFX	+ 0.96	RTIUX
RBCIX	+ 0.96	MSTFX
RBCIX	+ 0.93	RTIUX
PEIRX	+ 0.83	RTIUX
MSTFX	+ 0.82	PEIRX
RBCIX	+ 0.78	PEIRX

High negative correlations

SMNIX

- 0.01

JGECX

Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Developing 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 Developing'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
JGECX	0.74	(0.10)	0.00	(0.16)	0.00	0.00	1.18	(1.56)	10.34
RTIUX	0.58	0.13	0.17	0.21	0.63	(0.64)	1.47	(1.41)	5.02
PEIRX	0.78	(0.03)	0.00	(0.08)	0.00	0.00	1.57	(1.58)	9.14
MSTFX	0.64	0.09	0.14	(0.48)	0.68	(0.71)	1.39	(1.41)	4.63
RBCIX	1.27	0.24	0.16	1.33	1.26	(1.50)	2.72	(2.64)	7.76
SMNIX	0.45	0.03	0.11	(0.20)	0.42	(0.57)	1.00	(0.85)	2.62

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