Oppenheimer Global Correlations
OGIYX Fund | USD 46.15 1.24 2.76% |
The current 90-days correlation between Oppenheimer Global and Voya High Yield is 0.45 (i.e., Very weak diversification). The correlation of Oppenheimer Global 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 Global Correlation With Market
Poor diversification
The correlation between Oppenheimer Global Gr and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Global Gr and DJI in the same portfolio, assuming nothing else is changed.
Oppenheimer |
Moving together with Oppenheimer Mutual Fund
0.94 | OSCNX | Oppenheimer Main Street | PairCorr |
0.94 | OSCYX | Oppenheimer Main Street | PairCorr |
0.94 | OSSIX | Oppenheimer Main Street | PairCorr |
0.92 | OTCNX | Oppenheimer Cap Apprec | PairCorr |
0.91 | OTCYX | Oppenheimer Capital | PairCorr |
0.94 | ODINX | Oppenheimer Discovery | PairCorr |
0.95 | ODIYX | Oppenheimer Discovery | PairCorr |
0.93 | OEGYX | Oppenhmr Discovery Mid | PairCorr |
0.93 | OEGIX | Oppenhmr Discovery Mid | PairCorr |
0.94 | OEGNX | Oppenhmr Discovery Mid | PairCorr |
Moving against Oppenheimer Mutual Fund
0.48 | OSIIX | Oppenheimer Global Strtgc | PairCorr |
0.48 | OSIYX | Oppenheimer Strategic | PairCorr |
0.46 | OSINX | Oppenheimer Strat Incm | PairCorr |
0.44 | QMGIX | Oppenheimer Global | PairCorr |
0.44 | QMGRX | Oppenheimer Global | PairCorr |
0.44 | QMGYX | Oppenheimer Global | PairCorr |
0.44 | QMGAX | Oppenheimer Global | PairCorr |
0.43 | QMGCX | Oppenheimer Global | PairCorr |
0.4 | OEMIX | Ophmr Eml Dbt | PairCorr |
0.4 | OEMYX | Ophmr Eml Dbt | PairCorr |
0.37 | OEMNX | Ophmr Eml Dbt | PairCorr |
Related Correlations Analysis
0.99 | 0.98 | 1.0 | 0.85 | 0.96 | 0.96 | IPIMX | ||
0.99 | 0.98 | 0.99 | 0.88 | 0.97 | 0.96 | SEIYX | ||
0.98 | 0.98 | 0.98 | 0.86 | 0.96 | 0.95 | PRHYX | ||
1.0 | 0.99 | 0.98 | 0.83 | 0.96 | 0.96 | CYBAX | ||
0.85 | 0.88 | 0.86 | 0.83 | 0.9 | 0.83 | BUFHX | ||
0.96 | 0.97 | 0.96 | 0.96 | 0.9 | 0.98 | RHYAX | ||
0.96 | 0.96 | 0.95 | 0.96 | 0.83 | 0.98 | JYHRX | ||
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Risk-Adjusted Indicators
There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Global 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 Global'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 | ||
---|---|---|---|---|---|---|---|---|---|---|
IPIMX | 0.14 | 0.00 | 0.43 | (0.13) | 0.16 | 0.46 | 0.93 | |||
SEIYX | 0.16 | 0.00 | 0.38 | (0.06) | 0.17 | 0.40 | 1.18 | |||
PRHYX | 0.15 | 0.00 | 0.35 | (0.09) | 0.18 | 0.51 | 1.36 | |||
CYBAX | 0.13 | 0.00 | 0.00 | (0.12) | 0.00 | 0.44 | 0.90 | |||
BUFHX | 0.09 | 0.00 | 0.61 | (0.09) | 0.09 | 0.09 | 0.66 | |||
RHYAX | 0.12 | 0.01 | 0.42 | (0.05) | 0.14 | 0.21 | 1.14 | |||
JYHRX | 0.11 | 0.00 | 0.40 | (0.12) | 0.14 | 0.31 | 1.08 |