Ophmr Eml Correlations

OEMCX Fund

USD 5.21 0.01 0.19%

The current 90-days correlation between Ophmr Eml Dbt and Invesco Energy Fund is 0.03 (i.e., Significant diversification). The correlation of Ophmr Eml 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.

Ophmr Eml Correlation With Market

Significant diversification

The correlation between Ophmr Eml Dbt and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ophmr Eml Dbt 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 Ophmr Eml Dbt. 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 Ophmr Mutual Fund

0.95	OSICX	Oppenheimer Strategic	Pair Corr
0.95	OSMAX	Oppenheimer International	Pair Corr
0.95	OSMCX	Oppenheimer International	Pair Corr
1.0	EMLDX	Invesco Emerging Markets	Pair Corr
0.63	OCCIX	Oppenheimer Cnsrvtv	Pair Corr
0.73	STBAX	Invesco Short Term	Pair Corr
0.72	STBCX	Invesco Short Term	Pair Corr
0.65	STBYX	Invesco Short Term	Pair Corr

Moving against Ophmr Mutual Fund

0.78	OTFCX	Oppenheimer Target	Pair Corr
0.76	OARDX	Oppenheimer Rising	Pair Corr
0.69	DIGGX	Invesco Discovery	Pair Corr
0.57	PXGGX	Invesco Select Risk	Pair Corr
0.57	PXQIX	Invesco Select Risk	Pair Corr
0.55	OCAIX	Oppenheimer Aggrssv	Pair Corr
0.48	AMHYX	Invesco High Yield	Pair Corr
0.48	HYIFX	Invesco High Yield	Pair Corr
0.48	HYINX	Invesco High Yield	Pair Corr
0.41	PXMMX	Invesco Select Risk	Pair Corr
0.4	PXMQX	Invesco Select Risk	Pair Corr
0.4	PXMSX	Invesco Select Risk	Pair Corr
0.78	SCAUX	Invesco Low Volatility	Pair Corr
0.78	SCNUX	Invesco Low Volatility	Pair Corr
0.77	SCAYX	Invesco Low Volatility	Pair Corr
0.77	SCCUX	Invesco Low Volatility	Pair Corr
0.77	SCIUX	Invesco Low Volatility	Pair Corr
0.77	SCRUX	Invesco Low Volatility	Pair Corr
0.76	OCRDX	Oppenheimer Rising	Pair Corr
0.75	MLPAX	Oppenheimer Steelpath Mlp	Pair Corr
0.75	MLPGX	Oppenheimer Steelpath Mlp	Pair Corr
0.74	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.74	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr

Related Correlations Analysis

	IEFCX	GRHAX	XNDPX	ALTEX	APWEX	FRNRX	XEMOX	SBMBX
IEFCX		0.75	0.95	-0.34	0.9	0.9	0.8	0.65	IEFCX
GRHAX	0.75		0.72	-0.16	0.84	0.8	0.59	0.61	GRHAX
XNDPX	0.95	0.72		-0.48	0.95	0.77	0.92	0.42	XNDPX
ALTEX	-0.34	-0.16	-0.48		-0.45	-0.02	-0.43	0.25	ALTEX
APWEX	0.9	0.84	0.95	-0.45		0.75	0.89	0.4	APWEX
FRNRX	0.9	0.8	0.77	-0.02	0.75		0.58	0.89	FRNRX
XEMOX	0.8	0.59	0.92	-0.43	0.89	0.58		0.18	XEMOX
SBMBX	0.65	0.61	0.42	0.25	0.4	0.89	0.18		SBMBX
	IEFCX	GRHAX	XNDPX	ALTEX	APWEX	FRNRX	XEMOX	SBMBX

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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

XNDPX	+ 0.95	IEFCX
APWEX	+ 0.95	XNDPX
XEMOX	+ 0.92	XNDPX
APWEX	+ 0.9	IEFCX
FRNRX	+ 0.9	IEFCX
XEMOX	+ 0.89	APWEX

High negative correlations

ALTEX	- 0.48	XNDPX
APWEX	- 0.45	ALTEX
XEMOX	- 0.43	ALTEX
ALTEX	- 0.34	IEFCX
ALTEX	- 0.16	GRHAX
FRNRX	- 0.02	ALTEX

Risk-Adjusted Indicators

There is a big difference between Ophmr Mutual Fund performing well and Ophmr Eml 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 Ophmr Eml'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
IEFCX	0.82	0.08	(0.03)	3.07	1.12	(0.77)	1.64	(1.94)	5.20
GRHAX	1.05	0.17	0.11	0.38	0.90	(1.15)	2.47	(1.61)	5.25
XNDPX	0.93	0.14	0.02	1.70	1.17	(0.94)	1.83	(2.39)	6.71
ALTEX	1.25	0.00	(0.02)	0.11	1.40	(1.34)	2.10	(2.10)	7.75
APWEX	0.86	0.15	0.13	0.30	0.72	(1.01)	2.04	(1.59)	5.85
FRNRX	0.73	0.05	(0.05)	0.51	0.92	(0.76)	1.58	(1.57)	4.12
XEMOX	0.78	0.14	0.04	0.73	0.90	(0.86)	1.81	(1.34)	6.88
SBMBX	0.70	0.00	(0.10)	0.07	0.99	(0.68)	1.34	(1.49)	3.99

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