Oppenheimer Developing Correlations

ODVYX Fund

USD 40.06 0.46 1.16%

The current 90-days correlation between Oppenheimer Developing and Oppenheimer Main Street is 0.45 (i.e., Very weak 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

Modest diversification

The correlation between Oppenheimer Developing Markets and DJI is 0.24 (i.e., Modest 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 manufacturing.

Moving together with Oppenheimer Mutual Fund

1.0	ODVNX	Oppenheimer Developing	Pair Corr
0.84	QMGIX	Oppenheimer Global	Pair Corr
0.85	QMGRX	Oppenheimer Global	Pair Corr
0.84	QMGYX	Oppenheimer Global	Pair Corr
0.84	QMGAX	Oppenheimer Global	Pair Corr
0.85	QMGCX	Oppenheimer Global	Pair Corr
0.76	OEMIX	Ophmr Eml Dbt	Pair Corr
0.76	OEMNX	Ophmr Eml Dbt	Pair Corr
0.76	OEMYX	Ophmr Eml Dbt	Pair Corr

Related Correlations Analysis

	OSCNX	OSCIX	OSCYX	OSIIX	OSINX	OSIYX	OSMNX	OSMYX	OSPAX
OSCNX		0.89	1.0	-0.31	-0.26	-0.27	0.86	0.89	0.11	OSCNX
OSCIX	0.89		0.89	-0.03	0.01	0.0	0.96	1.0	0.16	OSCIX
OSCYX	1.0	0.89		-0.3	-0.25	-0.26	0.86	0.89	0.12	OSCYX
OSIIX	-0.31	-0.03	-0.3		0.95	0.96	-0.05	-0.03	0.64	OSIIX
OSINX	-0.26	0.01	-0.25	0.95		0.99	-0.05	0.0	0.71	OSINX
OSIYX	-0.27	0.0	-0.26	0.96	0.99		-0.05	0.0	0.7	OSIYX
OSMNX	0.86	0.96	0.86	-0.05	-0.05	-0.05		0.96	0.05	OSMNX
OSMYX	0.89	1.0	0.89	-0.03	0.0	0.0	0.96		0.16	OSMYX
OSPAX	0.11	0.16	0.12	0.64	0.71	0.7	0.05	0.16		OSPAX
	OSCNX	OSCIX	OSCYX	OSIIX	OSINX	OSIYX	OSMNX	OSMYX	OSPAX

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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

OSCYX	+ 1.0	OSCNX
OSMYX	+ 1.0	OSCIX
OSIYX	+ 0.99	OSINX
OSMNX	+ 0.96	OSCIX
OSIYX	+ 0.96	OSIIX
OSMYX	+ 0.96	OSMNX

High negative correlations

OSIIX	- 0.31	OSCNX
OSIIX	- 0.3	OSCYX
OSIYX	- 0.27	OSCNX
OSIYX	- 0.26	OSCYX
OSINX	- 0.26	OSCNX
OSINX	- 0.25	OSCYX

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
OSCNX	0.84	(0.13)	0.00	(0.15)	0.00	0.00	1.66	(1.40)	8.20
OSCIX	0.71	(0.07)	0.00	(0.13)	0.00	0.00	1.46	(1.25)	10.11
OSCYX	0.84	(0.12)	0.00	(0.14)	0.00	0.00	1.63	(1.42)	7.98
OSIIX	0.23	0.05	0.09	(0.80)	0.00	(0.44)	0.65	(0.33)	1.64
OSINX	0.27	0.05	0.09	0.49	0.13	(0.48)	0.65	(0.33)	1.95
OSIYX	0.22	0.05	0.09	0.43	0.00	(0.44)	0.65	(0.33)	1.63
OSMNX	0.71	(0.08)	0.00	1.92	0.00	0.00	1.47	(1.22)	10.69
OSMYX	0.71	(0.07)	0.00	(0.14)	0.00	0.00	1.46	(1.24)	10.16
OSPAX	0.85	0.04	0.03	0.10	1.19	(0.82)	1.44	(1.69)	4.64

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