Oppenheimer Rochester Correlations

OPTAX Fund

USD 6.90 0.03 0.43%

The current 90-days correlation between Oppenheimer Rochester and Franklin Real Estate is 0.3 (i.e., Weak 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 Amt Free and DJI is -0.28 (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 Amt Free 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 Amt Free. 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

1.0	VMICX	Invesco Municipal Income	Pair Corr
0.99	VMINX	Invesco Municipal Income	Pair Corr
0.99	VMIIX	Invesco Municipal Income	Pair Corr
0.62	ILAAX	Invesco Income Allocation	Pair Corr
0.79	PXCCX	Invesco Select Risk	Pair Corr
0.79	PXCIX	Invesco Select Risk	Pair Corr
0.99	OCACX	Oppenheimer Roc Ca	Pair Corr
0.77	OCCIX	Oppenheimer Cnsrvtv	Pair Corr
0.68	STBAX	Invesco Short Term	Pair Corr
0.68	STBCX	Invesco Short Term	Pair Corr
0.64	STBYX	Invesco Short Term	Pair Corr
0.75	STBRX	Invesco Short Term	Pair Corr

Related Correlations Analysis

	FREEX	NREEX	RRRZX	CNREX	FIKMX	JYEBX	PNDIX
FREEX		0.99	0.99	0.76	0.86	0.62	-0.52	FREEX
NREEX	0.99		0.97	0.76	0.86	0.53	-0.59	NREEX
RRRZX	0.99	0.97		0.72	0.82	0.69	-0.43	RRRZX
CNREX	0.76	0.76	0.72		0.82	0.47	-0.41	CNREX
FIKMX	0.86	0.86	0.82	0.82		0.4	-0.67	FIKMX
JYEBX	0.62	0.53	0.69	0.47	0.4		0.29	JYEBX
PNDIX	-0.52	-0.59	-0.43	-0.41	-0.67	0.29		PNDIX
	FREEX	NREEX	RRRZX	CNREX	FIKMX	JYEBX	PNDIX

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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

NREEX	+ 0.99	FREEX
RRRZX	+ 0.99	FREEX
RRRZX	+ 0.97	NREEX
FIKMX	+ 0.86	FREEX
FIKMX	+ 0.86	NREEX
FIKMX	+ 0.82	RRRZX

High negative correlations

PNDIX	- 0.67	FIKMX
PNDIX	- 0.59	NREEX
PNDIX	- 0.52	FREEX
PNDIX	- 0.43	RRRZX
PNDIX	- 0.41	CNREX

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
FREEX	0.68	(0.07)	0.00	(0.98)	0.00	0.00	1.14	(1.49)	3.47
NREEX	0.70	(0.07)	0.00	(0.94)	0.00	0.00	1.27	(1.48)	3.76
RRRZX	0.70	(0.06)	0.00	(0.88)	0.00	0.00	1.23	(1.55)	3.61
CNREX	0.60	(0.03)	(0.11)	(0.02)	0.85	(0.57)	1.17	(1.53)	3.47
FIKMX	0.21	(0.03)	0.00	(0.68)	0.00	0.00	0.49	(0.41)	1.22
JYEBX	0.64	(0.03)	(0.10)	(0.01)	0.86	(0.63)	1.15	(1.43)	3.40
PNDIX	0.05	0.01	0.00	5.40	0.00	0.00	0.10	0.00	0.70

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