Oppenheimer Global Correlations

OGLNX Fund  USD 92.49  1.24  1.36%   
The current 90-days correlation between Oppenheimer Global and American Century Diversified is 0.34 (i.e., 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

Modest diversification

The correlation between Oppenheimer Global Fd and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Global Fd 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 Fd. 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 board of governors.

Moving together with Oppenheimer Mutual Fund

  0.91OSCNX Oppenheimer Main StreetPairCorr
  0.96OSCIX Oppenheimer Intl SmallPairCorr
  0.91OSCYX Oppenheimer Main StreetPairCorr
  0.91OSMNX Oppenheimer Intl SmallPairCorr
  0.96OSMYX Oppenheimer Intl SmallPairCorr
  0.91OSSIX Oppenheimer Main StreetPairCorr
  0.67OTCNX Oppenheimer Cap ApprecPairCorr
  0.77OCAYX Oppenheimer Roc CaPairCorr
  0.82ODINX Oppenheimer DiscoveryPairCorr
  0.8ODIYX Oppenheimer DiscoveryPairCorr
  0.92CGRNX Oppenheimer ValuePairCorr
  0.92CGRYX Oppenheimer DisciplinedPairCorr
  0.81OEGYX Oppenhmr Discovery MidPairCorr
  0.81OEGIX Oppenhmr Discovery MidPairCorr
  0.84OEGNX Oppenhmr Discovery MidPairCorr
  0.75OFIIX Oppenheimer CorporatePairCorr
  0.75OFINX Oppenheimer CorporatePairCorr
  0.75OFIYX Oppenheimer CorporatePairCorr

Related Correlations Analysis

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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   
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PGBAXACDOX
FZABXACDOX
FZABXCDBCX
CDBCXPGBAX
  
High negative correlations   
XWDIXSRDAX
PRDAXSRDAX
CDBCXSRDAX
XWDIXJDJRX
FZABXSRDAX
SRDAXACDOX

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.