Oppenheimer International Correlations

OIBAX Fund

USD 4.40 0.02 0.45%

The current 90-days correlation between Oppenheimer International and Ab Discovery Value is 0.24 (i.e., Modest diversification). The correlation of Oppenheimer International 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 International Correlation With Market

Average diversification

The correlation between Oppenheimer International Bond and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer International Bond 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 International Bond. 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 nation.

Moving together with Oppenheimer Mutual Fund

0.93	OSICX	Oppenheimer Strategic	Pair Corr
0.72	HYIFX	Invesco High Yield	Pair Corr
0.73	HYINX	Invesco High Yield	Pair Corr
0.66	BRCRX	Invesco Balanced Risk	Pair Corr
0.7	BRCNX	Invesco Balanced Risk	Pair Corr
0.63	BRCCX	Invesco Balanced Risk	Pair Corr
0.86	BRCAX	Invesco Balanced Risk	Pair Corr
0.7	BRCYX	Invesco Balanced Risk	Pair Corr
0.64	EMLDX	Invesco Emerging Markets	Pair Corr
0.9	STBAX	Invesco Short Term	Pair Corr
0.9	STBCX	Invesco Short Term	Pair Corr
0.81	MLPRX	Oppenheimer Steelpath Mlp	Pair Corr
0.88	STBYX	Invesco Short Term	Pair Corr
0.9	STBRX	Invesco Short Term	Pair Corr
0.81	MLPDX	Oppenheimer Steelpath Mlp	Pair Corr
0.65	MLPAX	Oppenheimer Steelpath Mlp	Pair Corr
0.64	MLPGX	Oppenheimer Steelpath Mlp	Pair Corr
0.74	MLPFX	Oppenheimer Steelpath Mlp	Pair Corr
0.73	MLPEX	Steelpath Select	Pair Corr
0.63	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr

Moving against Oppenheimer Mutual Fund

0.4	OARDX	Oppenheimer Rising	Pair Corr
0.57	DIGGX	Invesco Discovery	Pair Corr
0.44	OCRDX	Oppenheimer Rising	Pair Corr

Related Correlations Analysis

	ABYSX	BPSCX	TRSZX	TRMIX	IAAEX	RRMGX	ESCIX
ABYSX		0.98	0.73	1.0	0.89	0.99	-0.29	ABYSX
BPSCX	0.98		0.71	0.97	0.91	0.96	-0.24	BPSCX
TRSZX	0.73	0.71		0.72	0.62	0.75	0.15	TRSZX
TRMIX	1.0	0.97	0.72		0.88	0.98	-0.27	TRMIX
IAAEX	0.89	0.91	0.62	0.88		0.88	-0.26	IAAEX
RRMGX	0.99	0.96	0.75	0.98	0.88		-0.29	RRMGX
ESCIX	-0.29	-0.24	0.15	-0.27	-0.26	-0.29		ESCIX
	ABYSX	BPSCX	TRSZX	TRMIX	IAAEX	RRMGX	ESCIX

Click cells to compare fundamentals

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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

TRMIX	+ 1.0	ABYSX
RRMGX	+ 0.99	ABYSX
BPSCX	+ 0.98	ABYSX
RRMGX	+ 0.98	TRMIX
TRMIX	+ 0.97	BPSCX
RRMGX	+ 0.96	BPSCX

High negative correlations

ESCIX	- 0.29	RRMGX
ESCIX	- 0.29	ABYSX
ESCIX	- 0.27	TRMIX
ESCIX	- 0.26	IAAEX
ESCIX	- 0.24	BPSCX

Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer International 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 International'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
ABYSX	0.90	(0.23)	0.00	(0.30)	0.00	0.00	1.43	(1.63)	13.38
BPSCX	0.92	(0.23)	0.00	(0.29)	0.00	0.00	1.35	(1.91)	14.47
TRSZX	0.90	(0.07)	0.00	(0.11)	0.00	0.00	1.59	(1.64)	6.10
TRMIX	0.75	(0.20)	0.00	(0.33)	0.00	0.00	1.16	(1.35)	12.71
IAAEX	0.67	(0.13)	0.00	(0.49)	0.00	0.00	1.10	(1.08)	9.17
RRMGX	0.82	(0.21)	0.00	(0.33)	0.00	0.00	1.22	(2.00)	11.90
ESCIX	0.70	0.00	0.02	0.00	0.98	(0.69)	1.22	(1.88)	4.06

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