Oppenheimer Roc Correlations

Mutual Funds . USA . 
Fund . Oppenheimer Roc Penn
OPACX Fund  USD 10.17  0.03  0.29%   
The current 90-days correlation between Oppenheimer Roc Penn and Fidelity Real Estate is 0.61 (i.e., Poor diversification). The correlation of Oppenheimer Roc 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 Roc Correlation With Market

Average diversification

The correlation between Oppenheimer Roc Penn and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Roc Penn 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 Roc Penn. 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 main economic indicators.

Moving together with Oppenheimer Mutual Fund

  0.99VMICX Invesco Municipal IncomePairCorr
  0.99VMINX Invesco Municipal IncomePairCorr
  0.99VMIIX Invesco Municipal IncomePairCorr
  0.81AMHYX Invesco High YieldPairCorr
  0.63OSICX Oppenheimer StrategicPairCorr
  0.62OSMAX Oppenheimer InternationalPairCorr
  0.62OSMCX Oppenheimer InternationalPairCorr
  0.82HYIFX Invesco High YieldPairCorr
  0.81HYINX Invesco High YieldPairCorr
  0.71ILAAX Invesco Income AllocationPairCorr
  0.81PXCCX Invesco Select RiskPairCorr
  0.8PXCIX Invesco Select RiskPairCorr
  0.93OCACX Oppenheimer Roc CaPairCorr
  0.82OCCIX Oppenheimer CnsrvtvPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Roc 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 Roc'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.

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