Oppenheimer Senior Correlations

OOSYX Fund

USD 6.58 0.01 0.15%

The current 90-days correlation between Oppenheimer Senior and Federated Ultrashort Bond is 0.4 (i.e., Very weak diversification). The correlation of Oppenheimer Senior 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 Senior Correlation With Market

Average diversification

The correlation between Oppenheimer Senior Floating and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Senior Floating 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 Senior Floating. 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 manufacturing.

Moving together with Oppenheimer Mutual Fund

0.7	OSCNX	Oppenheimer Main Street	Pair Corr
0.7	OSCYX	Oppenheimer Main Street	Pair Corr
0.63	OSPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.75	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.77	OSPSX	Oppenheimer Steelpath Mlp	Pair Corr
0.7	OSSIX	Oppenheimer Main Street	Pair Corr
0.77	OTCNX	Oppenheimer Cap Apprec	Pair Corr
0.76	MLPOX	Oppenheimer Steelpath Mlp	Pair Corr
0.75	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.77	MLPTX	Oppenheimer Steelpath Mlp	Pair Corr
0.63	MLPZX	Oppenheimer Steelpath Mlp	Pair Corr
0.76	ODINX	Oppenheimer Discovery	Pair Corr
0.77	CGRNX	Oppenheimer Value	Pair Corr
0.8	OEGIX	Oppenhmr Discovery Mid	Pair Corr
0.8	OEGNX	Oppenhmr Discovery Mid	Pair Corr
0.72	QOPIX	Oppenheimer Flexible	Pair Corr
0.72	QOPYX	Oppenheimer Flexible	Pair Corr
0.77	OGRIX	Oppenheimer Value	Pair Corr
0.67	GLVIX	Glg Intl Small	Pair Corr
0.77	OMGNX	Oppenheimer Main Street	Pair Corr

Moving against Oppenheimer Mutual Fund

0.73	OSCIX	Oppenheimer Intl Small	Pair Corr
0.73	OSMNX	Oppenheimer Intl Small	Pair Corr
0.73	OSMYX	Oppenheimer Intl Small	Pair Corr
0.55	OSINX	Oppenheimer Strat Incm	Pair Corr
0.67	OFINX	Oppenheimer Corporate	Pair Corr
0.67	OIGYX	Oppenheimer International	Pair Corr
0.67	OIGIX	Oppenheimer International	Pair Corr
0.66	OFIIX	Oppenheimer Corporate	Pair Corr
0.6	OEMYX	Ophmr Eml Dbt	Pair Corr
0.59	OIDNX	Oppenheimer Intl Div	Pair Corr
0.52	OIBIX	Oppenheimer Intl	Pair Corr

Related Correlations Analysis

	FULIX	JSNIX	FTFZX	SWSFX	ASCLX	GPPSX
FULIX		0.48	0.67	0.83	0.71	0.96	FULIX
JSNIX	0.48		0.8	0.22	0.0	0.36	JSNIX
FTFZX	0.67	0.8		0.39	0.33	0.59	FTFZX
SWSFX	0.83	0.22	0.39		0.75	0.85	SWSFX
ASCLX	0.71	0.0	0.33	0.75		0.78	ASCLX
GPPSX	0.96	0.36	0.59	0.85	0.78		GPPSX
	FULIX	JSNIX	FTFZX	SWSFX	ASCLX	GPPSX

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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

GPPSX	+ 0.96	FULIX
GPPSX	+ 0.85	SWSFX
SWSFX	+ 0.83	FULIX
FTFZX	+ 0.8	JSNIX
GPPSX	+ 0.78	ASCLX
ASCLX	+ 0.75	SWSFX

High negative correlations

ASCLX

- 0.0

JSNIX

Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Senior 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 Senior'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
FULIX	0.05	0.01	(0.74)	(0.28)	0.00	(0.22)	0.11	(0.11)	0.65
JSNIX	0.08	0.00	(0.85)	(0.19)	0.00	(0.17)	0.21	(0.11)	0.64
FTFZX	0.07	0.01	(0.59)	(0.13)	0.00	(0.13)	0.19	(0.10)	0.68
SWSFX	0.04	0.00	(1.07)	(0.08)	0.00	(0.17)	0.10	(0.10)	0.49
ASCLX	0.37	0.00	(0.09)	0.11	0.37	(0.41)	0.77	(0.93)	2.91
GPPSX	0.05	0.01	0.00	9.68	0.00	0.00	0.10	(0.10)	0.60

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