Oppenheimer Global Correlations

Mutual Funds . USA . 
Fund . Oppenheimer Global Gr
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.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Oppenheimer Global Gr. 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

  0.94OSCNX Oppenheimer Main StreetPairCorr
  0.94OSCYX Oppenheimer Main StreetPairCorr
  0.94OSSIX Oppenheimer Main StreetPairCorr
  0.92OTCNX Oppenheimer Cap ApprecPairCorr
  0.91OTCYX Oppenheimer CapitalPairCorr
  0.94ODINX Oppenheimer DiscoveryPairCorr
  0.95ODIYX Oppenheimer DiscoveryPairCorr
  0.93OEGYX Oppenhmr Discovery MidPairCorr
  0.93OEGIX Oppenhmr Discovery MidPairCorr
  0.94OEGNX Oppenhmr Discovery MidPairCorr

Moving against Oppenheimer Mutual Fund

  0.48OSIIX Oppenheimer Global StrtgcPairCorr
  0.48OSIYX Oppenheimer StrategicPairCorr
  0.46OSINX Oppenheimer Strat IncmPairCorr
  0.44QMGIX Oppenheimer GlobalPairCorr
  0.44QMGRX Oppenheimer GlobalPairCorr
  0.44QMGYX Oppenheimer GlobalPairCorr
  0.44QMGAX Oppenheimer GlobalPairCorr
  0.43QMGCX Oppenheimer GlobalPairCorr
  0.4OEMIX Ophmr Eml DbtPairCorr
  0.4OEMYX Ophmr Eml DbtPairCorr
  0.37OEMNX Ophmr Eml DbtPairCorr

Related Correlations Analysis

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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.

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