Oppenheimer Russell Correlations

OMFL Etf

USD 54.84 0.72 1.30%

The current 90-days correlation between Oppenheimer Russell 1000 and Oppenheimer Russell 2000 is 0.84 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Oppenheimer Russell moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Oppenheimer Russell 1000 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Oppenheimer Russell Correlation With Market

Very weak diversification

The correlation between Oppenheimer Russell 1000 and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Russell 1000 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 Russell 1000. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with Oppenheimer Etf

0.86	VTI	Vanguard Total Stock	Pair Corr
0.89	SPY	SPDR SP 500	Pair Corr
0.89	IVV	iShares Core SP	Pair Corr
0.97	VIG	Vanguard Dividend	Pair Corr
0.89	VV	Vanguard Large Cap	Pair Corr
0.8	RSP	Invesco SP 500	Pair Corr
0.88	IWB	iShares Russell 1000	Pair Corr
0.81	ESGU	iShares ESG Aware	Pair Corr
0.79	DFAC	Dimensional Core Equity	Pair Corr
0.89	SPLG	SPDR Portfolio SP	Pair Corr
0.91	RXI	iShares Global Consumer	Pair Corr
0.72	IBM	International Business	Pair Corr
0.62	MMM	3M Company	Pair Corr
0.8	WMT	Walmart	Pair Corr

Moving against Oppenheimer Etf

0.65

MRK

Merck Company Aggressive Push

Pair Corr

Related Correlations Analysis

	OMFS	SPGP	XSVM	XMMO	SPMO
OMFS		0.79	0.95	0.9	0.3	OMFS
SPGP	0.79		0.66	0.91	0.45	SPGP
XSVM	0.95	0.66		0.8	0.08	XSVM
XMMO	0.9	0.91	0.8		0.36	XMMO
SPMO	0.3	0.45	0.08	0.36		SPMO
	OMFS	SPGP	XSVM	XMMO	SPMO

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Oppenheimer Russell Constituents Risk-Adjusted Indicators

There is a big difference between Oppenheimer Etf performing well and Oppenheimer Russell ETF 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 Russell'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
OMFS	0.88	(0.16)	(0.30)	1.29	(1.94)	5.39
SPGP	0.72	(0.11)	(0.24)	1.19	(1.86)	4.05
XSVM	0.85	(0.13)	(0.25)	1.27	(1.90)	4.62
XMMO	0.99	(0.17)	(0.28)	1.50	(2.58)	5.89
SPMO	0.92	0.03	(0.05)	1.43	(1.96)	4.95

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