Oppenheimer Rochester Correlations

OPCAX Fund

USD 8.21 0.01 0.12%

The current 90-days correlation between Oppenheimer Rochester and Vanguard California Long Term is 0.14 (i.e., Average diversification). The correlation of Oppenheimer Rochester 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 Rochester Correlation With Market

Very good diversification

The correlation between Oppenheimer Rochester Ca and DJI is -0.32 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Rochester Ca 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 Rochester Ca. 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

0.9	VMICX	Invesco Municipal Income	Pair Corr
0.99	VMINX	Invesco Municipal Income	Pair Corr
0.99	VMIIX	Invesco Municipal Income	Pair Corr
0.82	PXCCX	Invesco Select Risk	Pair Corr
0.82	PXCIX	Invesco Select Risk	Pair Corr
0.99	OCACX	Oppenheimer Roc Ca	Pair Corr
0.8	OCCIX	Oppenheimer Cnsrvtv	Pair Corr
0.68	STBAX	Invesco Short Term	Pair Corr
0.67	STBCX	Invesco Short Term	Pair Corr
0.61	STBYX	Invesco Short Term	Pair Corr

Related Correlations Analysis

	VCITX	VCLAX	SCRYY	MSTSX	LBHIX	VIASP	XTWO	SVII	70082LAB3	XTWY
VCITX		1.0	0.27	0.19	0.47	0.03	0.68	-0.69	-0.39	0.57	VCITX
VCLAX	1.0		0.3	0.23	0.5	0.05	0.64	-0.67	-0.37	0.53	VCLAX
SCRYY	0.27	0.3		0.4	0.56	0.76	-0.21	-0.34	0.51	-0.38	SCRYY
MSTSX	0.19	0.23	0.4		0.67	0.08	-0.12	0.13	0.23	-0.36	MSTSX
LBHIX	0.47	0.5	0.56	0.67		0.48	-0.05	0.0	0.4	-0.27	LBHIX
VIASP	0.03	0.05	0.76	0.08	0.48		-0.33	-0.14	0.71	-0.43	VIASP
XTWO	0.68	0.64	-0.21	-0.12	-0.05	-0.33		-0.6	-0.7	0.91	XTWO
SVII	-0.69	-0.67	-0.34	0.13	0.0	-0.14	-0.6		0.37	-0.49	SVII
70082LAB3	-0.39	-0.37	0.51	0.23	0.4	0.71	-0.7	0.37		-0.75	70082LAB3
XTWY	0.57	0.53	-0.38	-0.36	-0.27	-0.43	0.91	-0.49	-0.75		XTWY
	VCITX	VCLAX	SCRYY	MSTSX	LBHIX	VIASP	XTWO	SVII	70082LAB3	XTWY

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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

VCLAX	+ 1.0	VCITX
XTWY	+ 0.91	XTWO
VIASP	+ 0.76	SCRYY
70082LAB3	+ 0.71	VIASP
XTWO	+ 0.68	VCITX
LBHIX	+ 0.67	MSTSX

High negative correlations

XTWY	- 0.75	70082LAB3
70082LAB3	- 0.7	XTWO
SVII	- 0.69	VCITX
SVII	- 0.67	VCLAX
SVII	- 0.6	XTWO
XTWY	- 0.49	SVII

Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Rochester 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 Rochester'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
VCITX	0.16	0.00	(0.26)	0.09	0.24	(0.22)	0.35	(0.43)	1.57
VCLAX	0.17	0.00	(0.25)	0.11	0.24	(0.23)	0.35	(0.43)	1.57
SCRYY	1.93	0.45	0.12	(0.71)	1.74	(2.85)	5.61	(3.52)	12.99
MSTSX	0.45	(0.01)	(0.11)	0.10	0.39	(0.59)	1.21	(0.84)	2.80
LBHIX	0.10	0.01	(0.41)	0.24	0.00	(0.25)	0.24	(0.24)	0.71
VIASP	0.75	0.10	(0.02)	(1.58)	1.11	(0.81)	2.28	(1.20)	7.18
XTWO	0.08	(0.01)	0.00	1.07	0.00	0.00	0.14	(0.12)	0.55
SVII	0.18	0.00	(0.17)	0.24	0.39	(0.29)	0.44	(0.53)	4.77
70082LAB3	0.70	0.09	(0.03)	(0.69)	0.99	(0.84)	1.75	(1.19)	6.86
XTWY	0.76	(0.10)	0.00	0.98	0.00	0.00	1.33	(1.70)	5.49

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