Oppnhmr Rochester Correlations

ORBZX Fund

USD 12.17 0.02 0.16%

The current 90-days correlation between Oppnhmr Rochester Arizona and Oppenheimer Main Street is 0.29 (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

Poor diversification

The correlation between Oppnhmr Rochester Arizona 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 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

0.77	OSCNX	Oppenheimer Main Street	Pair Corr
0.76	OSCYX	Oppenheimer Main Street	Pair Corr
0.63	OSPAX	Oppenheimer Steelpath Mlp	Pair Corr
0.74	OSPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.64	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.67	OSPSX	Oppenheimer Steelpath Mlp	Pair Corr
0.77	OSSIX	Oppenheimer Main Street	Pair Corr
0.68	OTCNX	Oppenheimer Cap Apprec	Pair Corr
0.68	OTCYX	Oppenheimer Capital	Pair Corr
0.63	MLPOX	Oppenheimer Steelpath Mlp	Pair Corr
0.64	MLPTX	Oppenheimer Steelpath Mlp	Pair Corr
0.74	MLPZX	Oppenheimer Steelpath Mlp	Pair Corr
0.75	ODINX	Oppenheimer Discovery	Pair Corr
0.75	ODIYX	Oppenheimer Discovery	Pair Corr
0.72	CGRNX	Oppenheimer Value	Pair Corr
0.72	CGRYX	Oppenheimer Disciplined	Pair Corr
0.7	OEGYX	Oppenhmr Discovery Mid	Pair Corr
0.7	OEGIX	Oppenhmr Discovery Mid	Pair Corr
0.7	OEGNX	Oppenhmr Discovery Mid	Pair Corr

Related Correlations Analysis

	OSCNX	OSCIX	OSCYX	OSIIX	OSINX	OSIYX	OSMNX	OSMYX	OSPAX	OSPMX
OSCNX		-0.62	0.96	-0.45	-0.49	-0.38	-0.63	-0.62	0.92	0.89	OSCNX
OSCIX	-0.62		-0.63	0.92	0.93	0.9	1.0	1.0	-0.75	-0.54	OSCIX
OSCYX	0.96	-0.63		-0.46	-0.5	-0.39	-0.64	-0.64	0.93	0.89	OSCYX
OSIIX	-0.45	0.92	-0.46		0.99	0.99	0.92	0.92	-0.55	-0.32	OSIIX
OSINX	-0.49	0.93	-0.5	0.99		0.98	0.93	0.93	-0.58	-0.36	OSINX
OSIYX	-0.38	0.9	-0.39	0.99	0.98		0.89	0.9	-0.48	-0.23	OSIYX
OSMNX	-0.63	1.0	-0.64	0.92	0.93	0.89		1.0	-0.75	-0.55	OSMNX
OSMYX	-0.62	1.0	-0.64	0.92	0.93	0.9	1.0		-0.75	-0.54	OSMYX
OSPAX	0.92	-0.75	0.93	-0.55	-0.58	-0.48	-0.75	-0.75		0.95	OSPAX
OSPMX	0.89	-0.54	0.89	-0.32	-0.36	-0.23	-0.55	-0.54	0.95		OSPMX
	OSCNX	OSCIX	OSCYX	OSIIX	OSINX	OSIYX	OSMNX	OSMYX	OSPAX	OSPMX

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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

OSMNX	+ 1.0	OSCIX
OSMYX	+ 1.0	OSCIX
OSMYX	+ 1.0	OSMNX
OSINX	+ 0.99	OSIIX
OSIYX	+ 0.99	OSIIX
OSIYX	+ 0.98	OSINX

High negative correlations

OSPAX	- 0.75	OSMYX
OSPAX	- 0.75	OSMNX
OSPAX	- 0.75	OSCIX
OSMYX	- 0.64	OSCYX
OSMNX	- 0.64	OSCYX
OSCYX	- 0.63	OSCIX

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
OSCNX	0.81	0.16	0.07	0.92	0.62	(0.94)	1.82	(1.42)	6.86
OSCIX	0.58	(0.12)	0.00	(0.16)	0.00	0.00	0.98	(1.18)	3.86
OSCYX	0.81	0.03	0.08	0.14	0.61	(0.95)	1.83	(1.40)	6.82
OSIIX	0.21	(0.03)	0.00	(0.14)	0.00	0.00	0.33	(0.64)	1.63
OSINX	0.21	(0.03)	0.00	(0.14)	0.00	0.00	0.32	(0.64)	1.30
OSIYX	0.23	(0.02)	(0.28)	(0.09)	0.28	(0.39)	0.33	(0.64)	1.63
OSMNX	0.58	(0.12)	0.00	(0.17)	0.00	0.00	0.98	(1.18)	3.85
OSMYX	0.58	(0.12)	0.00	(0.16)	0.00	0.00	0.99	(1.19)	3.86
OSPAX	0.67	0.15	0.07	0.73	0.67	(0.78)	1.45	(1.34)	4.62
OSPMX	0.55	0.09	(0.01)	0.56	0.50	(0.67)	1.52	(1.28)	3.58

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