Oppnhmr Rochester Correlations

Mutual Funds USA . 
Fund . Oppnhmr Rochester Arizona
ORAZX Fund  USD 12.12  0.05  0.41%   
The current 90-days correlation between Oppnhmr Rochester Arizona and Maryland Tax Free Bond is 0.23 (i.e., Modest diversification). The correlation of Oppnhmr 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.

Oppnhmr Rochester Correlation With Market

Modest diversification

The correlation between Oppnhmr Rochester Arizona and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppnhmr Rochester Arizona 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 Oppnhmr Rochester Arizona. 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 Oppnhmr Mutual Fund

  0.8OSCNX Oppenheimer Main StreetPairCorr
  0.79OSCIX Oppenheimer Intl SmallPairCorr
  0.8OSCYX Oppenheimer Main StreetPairCorr
  0.79OSMNX Oppenheimer Intl SmallPairCorr
  0.79OSMYX Oppenheimer Intl SmallPairCorr
  0.8OSSIX Oppenheimer Main StreetPairCorr
  0.75OCAYX Oppenheimer Roc CaPairCorr
  0.84ODINX Oppenheimer DiscoveryPairCorr
  0.81ODIYX Oppenheimer DiscoveryPairCorr
  0.75QMGIX Oppenheimer GlobalPairCorr
  0.75QMGRX Oppenheimer GlobalPairCorr
  0.75QMGYX Oppenheimer GlobalPairCorr
  0.75QMGAX Oppenheimer GlobalPairCorr
  0.75QMGCX Oppenheimer GlobalPairCorr
  0.77CGRNX Oppenheimer ValuePairCorr
  0.77CGRYX Oppenheimer DisciplinedPairCorr
  0.71OEGYX Oppenhmr Discovery MidPairCorr
  0.7OEGIX Oppenhmr Discovery MidPairCorr
  0.75OEGNX Oppenhmr Discovery MidPairCorr
  0.76OEMIX Ophmr Eml DbtPairCorr
  0.76OEMNX Ophmr Eml DbtPairCorr
  0.76OEMYX Ophmr Eml DbtPairCorr
  0.9OFIIX Oppenheimer CorporatePairCorr
  0.9OFINX Oppenheimer CorporatePairCorr
  0.9OFIYX Oppenheimer CorporatePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Oppnhmr Mutual Fund performing well and Oppnhmr 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 Oppnhmr 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
TFBIX  0.20 (0.02) 0.00 (0.29) 0.00 
 0.00 
 0.40 
(0.50)
 1.59 
MDXBX  0.20 (0.02) 0.00 (0.37) 0.00 
 0.00 
 0.40 
(0.50)
 1.59 
PRVAX  0.23 (0.02) 0.00 (0.32) 0.00 
 0.00 
 0.45 
(0.53)
 1.70 
TFBVX  0.23 (0.02) 0.00 (0.27) 0.00 
 0.00 
 0.45 
(0.53)
 1.70 
FOFZX  0.18 (0.02) 0.00 (0.39) 0.00 
 0.00 
 0.39 
(0.48)
 1.44 
FOFRX  0.19 (0.02) 0.00 (0.38) 0.00 
 0.00 
 0.38 
(0.47)
 1.53 
FRMZX  0.21 (0.02) 0.00 (0.33) 0.00 
 0.00 
 0.39 
(0.48)
 1.54 
FMOQX  0.21 (0.02) 0.00 (0.34) 0.00 
 0.00 
 0.39 
(0.48)
 1.54 
FRORX  0.19 (0.02) 0.00 (0.42) 0.00 
 0.00 
 0.39 
(0.47)
 1.44 
FORIX  0.19 (0.03) 0.00 (0.45) 0.00 
 0.00 
 0.38 
(0.47)
 1.51 

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