Oppenheimer Capital Correlations

OPTFX Fund  USD 85.07  1.08  1.29%   
The current 90-days correlation between Oppenheimer Capital and Invesco Municipal Income is -0.05 (i.e., Good diversification). The correlation of Oppenheimer Capital 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 Capital Correlation With Market

Poor diversification

The correlation between Oppenheimer Capital Appreciati and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Capital Appreciati 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 Capital Appreciation. 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 census.

Moving together with Oppenheimer Mutual Fund

  0.65AMHYX Invesco High YieldPairCorr
  0.66HYIFX Invesco High YieldPairCorr
  0.66HYINX Invesco High YieldPairCorr
  0.75PXGGX Invesco Select RiskPairCorr
  0.97OTFCX Oppenheimer TargetPairCorr
  0.66PXMQX Invesco Select RiskPairCorr
  0.66PXMSX Invesco Select RiskPairCorr
  0.8DIGGX Invesco DiscoveryPairCorr
  0.66PXMMX Invesco Select RiskPairCorr
  0.75PXQIX Invesco Select RiskPairCorr
  0.76OCAIX Oppenheimer AggrssvPairCorr
  0.78MLPRX Oppenheimer Steelpath MlpPairCorr
  0.79MLPDX Oppenheimer Steelpath MlpPairCorr
  0.86MLPAX Oppenheimer Steelpath MlpPairCorr
  0.86MLPGX Oppenheimer Steelpath MlpPairCorr
  0.86MLPFX Oppenheimer Steelpath MlpPairCorr
  0.86MLPEX Steelpath SelectPairCorr
  0.85MLPMX Oppenheimer Steelpath MlpPairCorr

Moving against Oppenheimer Mutual Fund

  0.58OSMAX Oppenheimer InternationalPairCorr
  0.58OSMCX Oppenheimer InternationalPairCorr
  0.55OSICX Oppenheimer StrategicPairCorr
  0.34BRCCX Invesco Balanced RiskPairCorr
  0.32BRCRX Invesco Balanced RiskPairCorr
  0.31BRCAX Invesco Balanced RiskPairCorr
  0.74EMLDX Invesco Emerging MarketsPairCorr
  0.31STBYX Invesco Short TermPairCorr
  0.57INDFX Invesco InternationalPairCorr
  0.53INBQX Aim Investment FundsPairCorr
  0.5INGFX Invesco OppenheimerPairCorr

Related Correlations Analysis

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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   
VMIIXVMINX
OSMCXOSMAX
VMINXVMICX
VMIIXVMICX
HYINXHYIFX
HYIFXAMHYX
  
High negative correlations   
HYINXOSMCX
HYINXOSMAX
HYIFXOSMCX
HYIFXOSMAX
OSMCXAMHYX
OSMAXAMHYX

Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Capital 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 Capital'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
VMICX  0.20 (0.04) 0.00  0.79  0.00 
 0.34 
 1.68 
VMINX  0.19 (0.03) 0.00  0.77  0.00 
 0.41 
 1.59 
VMIIX  0.20 (0.03) 0.00  0.69  0.00 
 0.33 
 1.59 
OARDX  0.62 (0.16) 0.00 (0.16) 0.00 
 0.84 
 12.98 
AMHYX  0.11 (0.02) 0.00 (0.32) 0.00 
 0.28 
 0.84 
OSICX  0.23 (0.07) 0.00 (0.46) 0.00 
 0.63 
 1.94 
OSMAX  0.74 (0.34) 0.00 (0.58) 0.00 
 0.97 
 12.61 
OSMCX  0.75 (0.35) 0.00 (0.59) 0.00 
 0.98 
 13.19 
HYIFX  0.12 (0.02) 0.00 (0.22) 0.00 
 0.28 
 1.12 
HYINX  0.11 (0.02) 0.00 (0.19) 0.00 
 0.28 
 1.12