Ophmr Eml Correlations

OEMYX Fund

USD 5.19 0.03 0.57%

The current 90-days correlation between Ophmr Eml Dbt and Ophmr Eml Dbt is 0.09 (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

Modest diversification

The correlation between Ophmr Eml Dbt and DJI is 0.25 (i.e., Modest 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 manufacturing.

Moving together with Ophmr Mutual Fund

0.79	OSCIX	Oppenheimer Intl Small	Pair Corr
0.95	OSIIX	Oppenheimer Global Strtgc	Pair Corr
0.94	OSINX	Oppenheimer Strat Incm	Pair Corr
0.95	OSIYX	Oppenheimer Strategic	Pair Corr
0.66	OSMNX	Oppenheimer Intl Small	Pair Corr
0.79	OSMYX	Oppenheimer Intl Small	Pair Corr
0.68	OSPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.68	MLPZX	Oppenheimer Steelpath Mlp	Pair Corr
0.75	ODVNX	Oppenheimer Developing	Pair Corr
0.76	ODVYX	Oppenheimer Developing	Pair Corr
0.97	QMGIX	Oppenheimer Global	Pair Corr
0.97	QMGRX	Oppenheimer Global	Pair Corr
0.97	QMGYX	Oppenheimer Global	Pair Corr
0.97	QMGAX	Oppenheimer Global	Pair Corr
0.97	QMGCX	Oppenheimer Global	Pair Corr
1.0	OEMIX	Ophmr Eml Dbt	Pair Corr
1.0	OEMNX	Ophmr Eml Dbt	Pair Corr

Moving against Ophmr Mutual Fund

0.63	ODIYX	Oppenheimer Discovery	Pair Corr
0.61	ODINX	Oppenheimer Discovery	Pair Corr
0.56	OTCNX	Oppenheimer Cap Apprec	Pair Corr
0.56	OTCYX	Oppenheimer Capital	Pair Corr
0.41	OSCNX	Oppenheimer Main Street	Pair Corr
0.4	OSSIX	Oppenheimer Main Street	Pair Corr
0.38	OSCYX	Oppenheimer Main Street	Pair Corr
0.62	OEGYX	Oppenhmr Discovery Mid	Pair Corr
0.62	OEGIX	Oppenhmr Discovery Mid	Pair Corr
0.62	OEGNX	Oppenhmr Discovery Mid	Pair Corr
0.49	OGIYX	Oppenheimer Global	Pair Corr
0.44	OFINX	Oppenheimer Corporate	Pair Corr
0.39	OFIIX	Oppenheimer Corporate	Pair Corr
0.37	OFIYX	Oppenheimer Corporate	Pair Corr

Related Correlations Analysis

	OEMCX	OEMAX	OEMIX	OEMNX	OEMYX	MNDVUX	NWWAX	SMGASX	PWJQX
OEMCX		0.97	0.97	0.97	0.97	0.23	0.0	0.0	0.55	OEMCX
OEMAX	0.97		1.0	1.0	1.0	0.26	0.0	0.0	0.61	OEMAX
OEMIX	0.97	1.0		1.0	1.0	0.25	0.0	0.0	0.6	OEMIX
OEMNX	0.97	1.0	1.0		1.0	0.26	0.0	0.0	0.61	OEMNX
OEMYX	0.97	1.0	1.0	1.0		0.25	0.0	0.0	0.61	OEMYX
MNDVUX	0.23	0.26	0.25	0.26	0.25		0.0	0.0	0.68	MNDVUX
NWWAX	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	NWWAX
SMGASX	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	SMGASX
PWJQX	0.55	0.61	0.6	0.61	0.61	0.68	0.0	0.0		PWJQX
	OEMCX	OEMAX	OEMIX	OEMNX	OEMYX	MNDVUX	NWWAX	SMGASX	PWJQX

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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

OEMIX	+ 1.0	OEMAX
OEMNX	+ 1.0	OEMAX
OEMYX	+ 1.0	OEMAX
OEMNX	+ 1.0	OEMIX
OEMYX	+ 1.0	OEMIX
OEMYX	+ 1.0	OEMNX

High negative correlations

PWJQX	- 0.0	SMGASX
PWJQX	- 0.0	NWWAX
SMGASX	- 0.0	NWWAX
SMGASX	- 0.0	MNDVUX
NWWAX	- 0.0	MNDVUX
SMGASX	- 0.0	OEMYX

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
OEMCX	0.34	0.04	0.27	2.75	0.25	(0.47)	0.79	(0.59)	1.92
OEMAX	0.34	0.03	0.22	0.17	0.32	(0.45)	0.61	(0.60)	1.78
OEMIX	0.35	0.03	0.23	0.22	0.32	(0.43)	0.79	(0.60)	1.79
OEMNX	0.35	0.03	0.21	0.15	0.33	(0.48)	0.79	(0.59)	1.92
OEMYX	0.35	0.03	0.24	0.19	0.31	(0.45)	0.61	(0.60)	1.92
MNDVUX	0.66	0.10	0.15	0.10	0.81	(0.66)	1.23	(1.22)	3.65
NWWAX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SMGASX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PWJQX	0.93	0.08	0.07	0.04	1.47	(0.84)	1.84	(2.34)	5.84

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