Oppenheimer Intl Correlations

Mutual Funds . USA . 
Fund . Oppenheimer Intl Small
OSCIX Fund  USD 38.58  0.23  0.60%   
The current 90-days correlation between Oppenheimer Intl Small and Ftufox is 0.26 (i.e., Modest diversification). The correlation of Oppenheimer Intl 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 Intl Correlation With Market

Good diversification

The correlation between Oppenheimer Intl Small and DJI is -0.2 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Intl Small 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 Intl Small. 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 gross domestic product.

Moving together with Oppenheimer Mutual Fund

  0.85OSIIX Oppenheimer Global StrtgcPairCorr
  0.83OSINX Oppenheimer Strat IncmPairCorr
  0.83OSIYX Oppenheimer StrategicPairCorr
  1.0OSMNX Oppenheimer Intl SmallPairCorr
  1.0OSMYX Oppenheimer Intl SmallPairCorr
  0.67OSPMX Oppenheimer Steelpath MlpPairCorr
  0.67MLPZX Oppenheimer Steelpath MlpPairCorr
  0.82ODVNX Oppenheimer DevelopingPairCorr
  0.82ODVYX Oppenheimer DevelopingPairCorr
  0.85QMGIX Oppenheimer GlobalPairCorr
  0.88QMGRX Oppenheimer GlobalPairCorr
  0.88QMGYX Oppenheimer GlobalPairCorr
  0.85QMGAX Oppenheimer GlobalPairCorr
  0.88QMGCX Oppenheimer GlobalPairCorr
  0.85OEMIX Ophmr Eml DbtPairCorr
  0.85OEMNX Ophmr Eml DbtPairCorr
  0.85OEMYX Ophmr Eml DbtPairCorr

Moving against Oppenheimer Mutual Fund

  0.43ODINX Oppenheimer DiscoveryPairCorr
  0.43ODIYX Oppenheimer DiscoveryPairCorr
  0.55OFINX Oppenheimer CorporatePairCorr
  0.5OFIIX Oppenheimer CorporatePairCorr
  0.49OFIYX Oppenheimer CorporatePairCorr
  0.38OEGNX Oppenhmr Discovery MidPairCorr
  0.37OEGYX Oppenhmr Discovery MidPairCorr
  0.37OEGIX Oppenhmr Discovery MidPairCorr

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   
BXECX
+ 0.95
DIHRX
DIHRX
+ 0.94
EICVX
BXECX
+ 0.87
EICVX
BXECX
+ 0.63
FTUFOX
DIHRX
+ 0.61
FTUFOX
WABMSX
+ 0.53
EICVX
  
High negative correlations   
BXECX
- 0.17
XHYIX
XHYIX
- 0.13
DIHRX
XHYIX
- 0.09
EICVX

Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Intl 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 Intl'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.

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