Oppenheimer Global Correlations

OGLNX Fund

USD 89.73 1.44 1.63%

The current 90-days correlation between Oppenheimer Global and Short Small Cap Profund is -0.81 (i.e., Pay attention - limited upside). 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 Fd and DJI is 0.65 (i.e., Poor 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

0.78	OSCNX	Oppenheimer Main Street	Pair Corr
0.9	OSSIX	Oppenheimer Main Street	Pair Corr
0.9	OTCNX	Oppenheimer Cap Apprec	Pair Corr
0.78	OTCYX	Oppenheimer Capital	Pair Corr
0.69	CGRYX	Oppenheimer Disciplined	Pair Corr
0.83	OEGYX	Oppenhmr Discovery Mid	Pair Corr
0.83	OEGIX	Oppenhmr Discovery Mid	Pair Corr
0.73	OGIYX	Oppenheimer Global	Pair Corr
0.73	OGINX	Oppenheimer Gr Incm	Pair Corr
1.0	OGLIX	Oppenheimer Global	Pair Corr
1.0	OGLYX	Oppenheimer Global	Pair Corr
0.87	OYAIX	Oppenheimer Aggrssv	Pair Corr
0.65	OGRIX	Oppenheimer Value	Pair Corr
0.88	OYRDX	Oppenheimer Rising	Pair Corr

Related Correlations Analysis

	SHPSX	PRDMX	RYCLX	LVAQX	IAAEX	FTHSX	CSCVX
SHPSX		-0.92	0.98	-0.9	0.14	-0.9	0.05	SHPSX
PRDMX	-0.92		-0.93	0.88	-0.03	0.84	0.09	PRDMX
RYCLX	0.98	-0.93		-0.91	0.14	-0.91	0.05	RYCLX
LVAQX	-0.9	0.88	-0.91		-0.02	0.98	-0.01	LVAQX
IAAEX	0.14	-0.03	0.14	-0.02		-0.09	0.41	IAAEX
FTHSX	-0.9	0.84	-0.91	0.98	-0.09		-0.1	FTHSX
CSCVX	0.05	0.09	0.05	-0.01	0.41	-0.1		CSCVX
	SHPSX	PRDMX	RYCLX	LVAQX	IAAEX	FTHSX	CSCVX

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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

RYCLX	+ 0.98	SHPSX
FTHSX	+ 0.98	LVAQX
LVAQX	+ 0.88	PRDMX
FTHSX	+ 0.84	PRDMX
CSCVX	+ 0.41	IAAEX
IAAEX	+ 0.14	SHPSX

High negative correlations

RYCLX	- 0.93	PRDMX
PRDMX	- 0.92	SHPSX
FTHSX	- 0.91	RYCLX
LVAQX	- 0.91	RYCLX
FTHSX	- 0.9	SHPSX
LVAQX	- 0.9	SHPSX

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
SHPSX	0.96	0.13	0.18	(0.17)	0.95	(1.16)	2.23	(1.56)	5.48
PRDMX	1.21	(0.09)	0.00	(0.12)	0.00	0.00	1.84	(2.48)	6.08
RYCLX	0.83	0.11	0.18	(0.17)	0.80	(0.90)	2.16	(1.29)	5.13
LVAQX	0.78	(0.07)	0.00	1.48	0.00	0.00	1.58	(1.73)	3.61
IAAEX	0.81	(0.11)	0.00	(0.26)	0.00	0.00	1.41	(1.48)	9.17
FTHSX	0.88	(0.09)	0.00	6.17	0.00	0.00	1.71	(1.90)	4.02
CSCVX	0.33	(0.02)	0.00	(0.12)	0.00	0.00	0.97	(1.11)	4.46

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