Oppenheimer International Correlations

OIGAX Fund  USD 32.60  0.10  0.31%   
The current 90-days correlation between Oppenheimer International and Invesco Municipal Income is 0.1 (i.e., Average 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

Good diversification

The correlation between Oppenheimer International Grow and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer International Grow 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 Growth. 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

  0.74AMHYX Invesco High YieldPairCorr
  0.74OSICX Oppenheimer StrategicPairCorr
  0.9OSMAX Oppenheimer InternationalPairCorr
  0.9OSMCX Oppenheimer InternationalPairCorr
  0.69HYIFX Invesco High YieldPairCorr
  0.73HYINX Invesco High YieldPairCorr
  0.81ILAAX Invesco Income AllocationPairCorr
  0.86PXCCX Invesco Select RiskPairCorr
  0.64BRCRX Invesco Balanced RiskPairCorr
  0.82PXCIX Invesco Select RiskPairCorr
  0.64BRCCX Invesco Balanced RiskPairCorr
  0.65BRCAX Invesco Balanced RiskPairCorr
  0.65BRCYX Invesco Balanced RiskPairCorr
  0.76EMLDX Invesco Emerging MarketsPairCorr
  0.82OCCIX Oppenheimer CnsrvtvPairCorr
  0.66MLPRX Oppenheimer Steelpath MlpPairCorr
  0.72MLPDX Oppenheimer Steelpath MlpPairCorr

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   
OSMCXOSMAX
VMIIXVMICX
HYINXAMHYX
VMIIXVMINX
VMINXVMICX
HYIFXAMHYX
  
High negative correlations   
OSICXOARDX

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
VMICX  0.19 (0.02) 0.00 (0.59) 0.00 
 0.34 
 1.27 
VMINX  0.18  0.00  0.00  0.00  0.00 
 0.42 
 1.26 
VMIIX  0.20 (0.02) 0.00 (0.43) 0.00 
 0.42 
 1.26 
OARDX  0.71 (0.01) 0.00 (0.06) 0.00 
 1.27 
 3.98 
AMHYX  0.18  0.01  0.16 (0.01) 0.18 
 0.56 
 1.43 
OSICX  0.24  0.04  0.24  0.46  0.05 
 0.64 
 1.96 
OSMAX  0.68  0.08  0.11  0.07  0.77 
 1.52 
 4.78 
OSMCX  0.69  0.07  0.11  0.06  0.78 
 1.52 
 4.80 
HYIFX  0.16  0.00  0.16 (0.21) 0.14 
 0.29 
 1.14 
HYINX  0.14  0.01  0.16 (0.01) 0.13 
 0.56 
 1.14