Oppenheimer Gold Correlations

Mutual Funds . USA . 
Fund . Oppenheimer Gold Special
OGMCX Fund  USD 28.72  0.49  1.74%   
The current 90-days correlation between Oppenheimer Gold Special and Saat Moderate Strategy is -0.16 (i.e., Good diversification). The correlation of Oppenheimer Gold 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 Gold Correlation With Market

Modest diversification

The correlation between Oppenheimer Gold Special and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Gold Special 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 Gold Special. 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 main economic indicators.

Moving together with Oppenheimer Mutual Fund

  0.64AMHYX Invesco High YieldPairCorr
  0.85OSICX Oppenheimer StrategicPairCorr
  0.85OSMAX Oppenheimer InternationalPairCorr
  0.84OSMCX Oppenheimer InternationalPairCorr
  0.67HYIFX Invesco High YieldPairCorr
  0.68HYINX Invesco High YieldPairCorr
  0.66ILAAX Invesco Income AllocationPairCorr
  0.72PXCCX Invesco Select RiskPairCorr
  0.85BRCRX Invesco Balanced RiskPairCorr
  0.85BRCNX Invesco Balanced RiskPairCorr
  0.66PXCIX Invesco Select RiskPairCorr
  0.85BRCCX Invesco Balanced RiskPairCorr
  0.85BRCAX Invesco Balanced RiskPairCorr
  0.85BRCYX Invesco Balanced RiskPairCorr
  0.85EMLDX Invesco Emerging MarketsPairCorr
  0.67OCCIX Oppenheimer CnsrvtvPairCorr
  0.79STBAX Invesco Short TermPairCorr
  0.78STBCX Invesco Short TermPairCorr
  0.82MLPRX Oppenheimer Steelpath MlpPairCorr
  0.78STBYX Invesco Short TermPairCorr
  0.78STBRX Invesco Short TermPairCorr
  0.82MLPDX Oppenheimer Steelpath MlpPairCorr
  0.67MLPAX Oppenheimer Steelpath MlpPairCorr
  0.68MLPGX Oppenheimer Steelpath MlpPairCorr
  0.75MLPFX Oppenheimer Steelpath MlpPairCorr
  0.74MLPEX Steelpath SelectPairCorr
  0.66MLPMX Oppenheimer Steelpath MlpPairCorr

Moving against Oppenheimer Mutual Fund

  0.52DIGGX Invesco DiscoveryPairCorr
  0.45OTFCX Oppenheimer TargetPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Gold 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 Gold'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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