Oppenheimer Cap Correlations

OTCNX Fund

USD 68.16 1.80 2.71%

The current 90-days correlation between Oppenheimer Cap Apprec and Bbh Intermediate Municipal is 0.02 (i.e., Significant diversification). The correlation of Oppenheimer Cap 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 Cap Correlation With Market

Poor diversification

The correlation between Oppenheimer Cap Apprec and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Cap Apprec 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 Cap Apprec. 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

0.95	OSCNX	Oppenheimer Main Street	Pair Corr
0.94	OSCYX	Oppenheimer Main Street	Pair Corr
0.94	OSSIX	Oppenheimer Main Street	Pair Corr
1.0	OTCYX	Oppenheimer Capital	Pair Corr
0.96	ODINX	Oppenheimer Discovery	Pair Corr
0.96	ODIYX	Oppenheimer Discovery	Pair Corr
0.98	OEGYX	Oppenhmr Discovery Mid	Pair Corr
0.98	OEGIX	Oppenhmr Discovery Mid	Pair Corr
0.98	OEGNX	Oppenhmr Discovery Mid	Pair Corr

Moving against Oppenheimer Mutual Fund

0.58	OSIIX	Oppenheimer Global Strtgc	Pair Corr
0.56	OSIYX	Oppenheimer Strategic	Pair Corr
0.54	OSINX	Oppenheimer Strat Incm	Pair Corr
0.66	QMGRX	Oppenheimer Global	Pair Corr
0.66	QMGYX	Oppenheimer Global	Pair Corr
0.65	QMGCX	Oppenheimer Global	Pair Corr
0.62	QMGIX	Oppenheimer Global	Pair Corr
0.62	QMGAX	Oppenheimer Global	Pair Corr
0.58	OEMIX	Ophmr Eml Dbt	Pair Corr
0.58	OEMYX	Ophmr Eml Dbt	Pair Corr
0.57	OEMNX	Ophmr Eml Dbt	Pair Corr

Related Correlations Analysis

	BBINX	MBSAX	MIIIX	TTRBX	UIITX
BBINX		0.91	0.84	0.88	0.88	BBINX
MBSAX	0.91		0.95	0.96	0.96	MBSAX
MIIIX	0.84	0.95		0.97	0.99	MIIIX
TTRBX	0.88	0.96	0.97		0.99	TTRBX
UIITX	0.88	0.96	0.99	0.99		UIITX
	BBINX	MBSAX	MIIIX	TTRBX	UIITX

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Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Cap 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 Cap'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
BBINX	0.13	(0.01)	0.12	0.28	0.17	(0.18)	0.29	(0.30)	0.78
MBSAX	0.18	0.01	0.18	(0.25)	0.19	(0.21)	0.36	(0.30)	1.34
MIIIX	0.25	0.01	0.15	0.64	0.23	(0.32)	0.54	(0.43)	1.42
TTRBX	0.16	0.01	0.22	1.13	0.10	(0.19)	0.40	(0.30)	0.82
UIITX	0.23	0.01	0.16	0.51	0.21	(0.29)	0.55	(0.43)	1.45

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