Oppenheimer International Correlations

OIDAX Fund

USD 15.38 0.18 1.16%

The current 90-days correlation between Oppenheimer International and Calvert Large Cap is -0.14 (i.e., Good 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

Poor diversification

The correlation between Oppenheimer International Dive and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer International Dive 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 Diversified. 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

0.72	AMHYX	Invesco High Yield	Pair Corr
0.7	OSICX	Oppenheimer Strategic	Pair Corr
0.89	OSMAX	Oppenheimer International	Pair Corr
0.89	OSMCX	Oppenheimer International	Pair Corr
0.72	HYINX	Invesco High Yield	Pair Corr
0.89	ILAAX	Invesco Income Allocation	Pair Corr
0.81	PXCCX	Invesco Select Risk	Pair Corr
0.73	BRCNX	Invesco Balanced Risk	Pair Corr
0.81	PXCIX	Invesco Select Risk	Pair Corr
0.86	EMLDX	Invesco Emerging Markets	Pair Corr
0.81	OCCIX	Oppenheimer Cnsrvtv	Pair Corr
0.63	STBCX	Invesco Short Term	Pair Corr
0.63	STBYX	Invesco Short Term	Pair Corr
0.64	STMUX	Invesco Short Term	Pair Corr

Related Correlations Analysis

	CMIFX	PCPAX	PAFDX	GMLVX	FMIQX	JDVNX	ENGRX
CMIFX		0.62	0.48	0.65	0.01	-0.23	-0.26	CMIFX
PCPAX	0.62		0.97	0.72	0.72	0.57	0.29	PCPAX
PAFDX	0.48	0.97		0.61	0.84	0.71	0.4	PAFDX
GMLVX	0.65	0.72	0.61		0.34	0.13	-0.03	GMLVX
FMIQX	0.01	0.72	0.84	0.34		0.9	0.54	FMIQX
JDVNX	-0.23	0.57	0.71	0.13	0.9		0.72	JDVNX
ENGRX	-0.26	0.29	0.4	-0.03	0.54	0.72		ENGRX
	CMIFX	PCPAX	PAFDX	GMLVX	FMIQX	JDVNX	ENGRX

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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

PAFDX	+ 0.97	PCPAX
JDVNX	+ 0.9	FMIQX
FMIQX	+ 0.84	PAFDX
GMLVX	+ 0.72	PCPAX
FMIQX	+ 0.72	PCPAX
ENGRX	+ 0.72	JDVNX

High negative correlations

ENGRX	- 0.26	CMIFX
JDVNX	- 0.23	CMIFX
ENGRX	- 0.03	GMLVX

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
CMIFX	0.08	0.01	0.34	(1.97)	0.00	(0.12)	0.21	(0.20)	0.62
PCPAX	0.58	0.09	0.15	0.07	0.61	(0.68)	1.23	(1.27)	3.20
PAFDX	0.59	0.08	0.12	0.05	0.67	(0.63)	1.18	(1.15)	3.38
GMLVX	0.72	0.05	0.07	0.04	0.94	(0.75)	1.57	(1.64)	5.51
FMIQX	0.67	0.03	0.00	(0.01)	0.00	0.00	1.20	(1.26)	3.07
JDVNX	0.66	0.03	0.00	(0.03)	0.00	0.00	1.24	(1.45)	3.55
ENGRX	0.68	(0.04)	0.00	0.67	0.00	0.00	0.89	(1.14)	10.33

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