Oppenheimer Main Correlations

OSCNX Fund

USD 20.74 0.09 0.43%

The current 90-days correlation between Oppenheimer Main Street and Tax Managed International Equity is 0.63 (i.e., Poor diversification). The correlation of Oppenheimer Main 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 Main Correlation With Market

Very poor diversification

The correlation between Oppenheimer Main Street and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Main Street 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 Main Street. 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 board of governors.

Moving together with Oppenheimer Mutual Fund

0.94	OSCYX	Oppenheimer Main Street	Pair Corr
1.0	OSSIX	Oppenheimer Main Street	Pair Corr
0.96	OTCNX	Oppenheimer Cap Apprec	Pair Corr
0.96	OTCYX	Oppenheimer Capital	Pair Corr
0.96	ODINX	Oppenheimer Discovery	Pair Corr
0.96	ODIYX	Oppenheimer Discovery	Pair Corr
0.96	OEGYX	Oppenhmr Discovery Mid	Pair Corr
0.96	OEGIX	Oppenhmr Discovery Mid	Pair Corr
0.96	OEGNX	Oppenhmr Discovery Mid	Pair Corr

Moving against Oppenheimer Mutual Fund

0.54	OSIYX	Oppenheimer Strategic	Pair Corr
0.53	OSIIX	Oppenheimer Global Strtgc	Pair Corr
0.48	OSINX	Oppenheimer Strat Incm	Pair Corr
0.6	QMGIX	Oppenheimer Global	Pair Corr
0.6	QMGRX	Oppenheimer Global	Pair Corr
0.6	QMGYX	Oppenheimer Global	Pair Corr
0.6	QMGCX	Oppenheimer Global	Pair Corr
0.57	QMGAX	Oppenheimer Global	Pair Corr
0.55	OEMNX	Ophmr Eml Dbt	Pair Corr
0.51	OEMIX	Ophmr Eml Dbt	Pair Corr
0.51	OEMYX	Ophmr Eml Dbt	Pair Corr
0.46	OFIIX	Oppenheimer Corporate	Pair Corr
0.46	OFIYX	Oppenheimer Corporate	Pair Corr
0.44	OFINX	Oppenheimer Corporate	Pair Corr

Related Correlations Analysis

	RTIUX	WABMSX	FZDAQX	FUHKBX	FLAKQX	VIPIX	DIHRX
RTIUX		0.34	0.37	-0.35	0.27	0.91	0.99	RTIUX
WABMSX	0.34		0.57	0.49	0.81	0.18	0.35	WABMSX
FZDAQX	0.37	0.57		0.18	0.6	0.43	0.38	FZDAQX
FUHKBX	-0.35	0.49	0.18		0.24	-0.43	-0.34	FUHKBX
FLAKQX	0.27	0.81	0.6	0.24		0.21	0.29	FLAKQX
VIPIX	0.91	0.18	0.43	-0.43	0.21		0.93	VIPIX
DIHRX	0.99	0.35	0.38	-0.34	0.29	0.93		DIHRX
	RTIUX	WABMSX	FZDAQX	FUHKBX	FLAKQX	VIPIX	DIHRX

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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

DIHRX	+ 0.99	RTIUX
DIHRX	+ 0.93	VIPIX
VIPIX	+ 0.91	RTIUX
FLAKQX	+ 0.81	WABMSX
FLAKQX	+ 0.6	FZDAQX
FZDAQX	+ 0.57	WABMSX

High negative correlations

VIPIX	- 0.43	FUHKBX
FUHKBX	- 0.35	RTIUX
DIHRX	- 0.34	FUHKBX

Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Main 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 Main'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
RTIUX	0.60	0.09	0.09	0.17	0.73	(0.65)	1.47	(1.45)	5.02
WABMSX	0.61	0.03	0.03	0.04	0.78	(0.63)	1.38	(1.29)	3.66
FZDAQX	0.11	(0.01)	(0.03)	(0.05)	0.17	(0.15)	0.21	(0.21)	1.03
FUHKBX	0.69	(0.01)	(0.01)	(0.01)	0.93	(0.71)	1.13	(1.61)	4.79
FLAKQX	0.84	0.01	0.01	0.10	1.11	(0.93)	1.75	(2.40)	4.80
VIPIX	0.22	0.03	0.08	0.82	0.17	(0.27)	0.53	(0.44)	1.30
DIHRX	0.59	0.08	0.09	0.15	0.67	(0.68)	1.51	(1.19)	3.80

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