Oppenhmr Discovery Correlations

OEGYX Fund

USD 31.03 0.07 0.23%

The current 90-days correlation between Oppenhmr Discovery Mid and Aqr Diversified Arbitrage is -0.16 (i.e., Good diversification). The correlation of Oppenhmr Discovery 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.

Oppenhmr Discovery Correlation With Market

Poor diversification

The correlation between Oppenhmr Discovery Mid and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenhmr Discovery Mid 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 Oppenhmr Discovery Mid. 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 Oppenhmr Mutual Fund

0.95	OSCNX	Oppenheimer Main Street	Pair Corr
0.95	OSCYX	Oppenheimer Main Street	Pair Corr
0.95	OSSIX	Oppenheimer Main Street	Pair Corr
0.98	OTCNX	Oppenheimer Cap Apprec	Pair Corr
0.98	OTCYX	Oppenheimer Capital	Pair Corr
0.99	ODINX	Oppenheimer Discovery	Pair Corr
0.99	ODIYX	Oppenheimer Discovery	Pair Corr
1.0	OEGIX	Oppenhmr Discovery Mid	Pair Corr
1.0	OEGNX	Oppenhmr Discovery Mid	Pair Corr

Moving against Oppenhmr Mutual Fund

0.65	OSIIX	Oppenheimer Global Strtgc	Pair Corr
0.62	OSIYX	Oppenheimer Strategic	Pair Corr
0.61	OSINX	Oppenheimer Strat Incm	Pair Corr
0.37	OSCIX	Oppenheimer Intl Small	Pair Corr
0.37	OSMYX	Oppenheimer Intl Small	Pair Corr
0.36	OSMNX	Oppenheimer Intl Small	Pair Corr
0.73	QMGRX	Oppenheimer Global	Pair Corr
0.73	QMGYX	Oppenheimer Global	Pair Corr
0.73	QMGCX	Oppenheimer Global	Pair Corr
0.69	QMGIX	Oppenheimer Global	Pair Corr
0.69	QMGAX	Oppenheimer Global	Pair Corr
0.64	OEMIX	Ophmr Eml Dbt	Pair Corr
0.64	OEMYX	Ophmr Eml Dbt	Pair Corr
0.63	OEMNX	Ophmr Eml Dbt	Pair Corr
0.39	ODVYX	Oppenheimer Developing	Pair Corr
0.38	ODVNX	Oppenheimer Developing	Pair Corr
0.31	QOPIX	Oppenheimer Flexible	Pair Corr
0.31	QOPYX	Oppenheimer Flexible	Pair Corr

Related Correlations Analysis

	QDARX	HIIDX	XWDIX	OIDAX	MDBLX	BICPX	ACBPX	PGBAX
QDARX		0.87	0.39	0.55	0.9	0.64	0.89	0.88	QDARX
HIIDX	0.87		0.52	0.86	0.89	0.82	0.88	0.92	HIIDX
XWDIX	0.39	0.52		0.59	0.64	0.57	0.63	0.62	XWDIX
OIDAX	0.55	0.86	0.59		0.66	0.86	0.67	0.78	OIDAX
MDBLX	0.9	0.89	0.64	0.66		0.76	0.99	0.95	MDBLX
BICPX	0.64	0.82	0.57	0.86	0.76		0.77	0.89	BICPX
ACBPX	0.89	0.88	0.63	0.67	0.99	0.77		0.96	ACBPX
PGBAX	0.88	0.92	0.62	0.78	0.95	0.89	0.96		PGBAX
	QDARX	HIIDX	XWDIX	OIDAX	MDBLX	BICPX	ACBPX	PGBAX

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Risk-Adjusted Indicators

There is a big difference between Oppenhmr Mutual Fund performing well and Oppenhmr Discovery 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 Oppenhmr Discovery'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
QDARX	0.08	0.03	0.61	1.49	0.00	(0.13)	0.25	(0.08)	0.49
HIIDX	0.62	0.08	0.10	0.10	0.82	(0.64)	1.27	(0.97)	5.23
XWDIX	0.20	(0.03)	0.00	0.64	0.00	0.00	0.33	(0.46)	1.59
OIDAX	0.71	(0.02)	0.00	(0.09)	0.00	0.00	1.42	(1.46)	5.03
MDBLX	0.23	0.02	0.18	0.28	0.18	(0.30)	0.50	(0.38)	1.38
BICPX	0.24	0.00	0.08	(0.03)	0.31	(0.31)	0.54	(0.45)	1.55
ACBPX	0.25	0.01	0.15	0.29	0.23	(0.30)	0.56	(0.44)	1.23
PGBAX	0.14	0.01	0.23	0.10	0.09	(0.18)	0.34	(0.25)	0.85

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