Oppenheimer Target Correlations

Mutual Funds . USA . 
Fund . Oppenheimer Target
OTFCX Fund  USD 44.26  0.41  0.92%   
The current 90-days correlation between Oppenheimer Target and Artisan Emerging Markets is 0.39 (i.e., Weak diversification). The correlation of Oppenheimer Target 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 Target Correlation With Market

Poor diversification

The correlation between Oppenheimer Target 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 Oppenheimer Target 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 Target. 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 main economic indicators.

Moving together with Oppenheimer Mutual Fund

  0.98OARDX Oppenheimer RisingPairCorr
  0.76AMHYX Invesco High YieldPairCorr
  0.77HYIFX Invesco High YieldPairCorr
  0.77HYINX Invesco High YieldPairCorr
  0.61BRCNX Invesco Balanced RiskPairCorr
  0.94PXGGX Invesco Select RiskPairCorr
  0.85PXMQX Invesco Select RiskPairCorr
  0.85PXMSX Invesco Select RiskPairCorr
  0.95DIGGX Invesco DiscoveryPairCorr
  0.85PXMMX Invesco Select RiskPairCorr
  0.94PXQIX Invesco Select RiskPairCorr
  0.93OCAIX Oppenheimer AggrssvPairCorr
  0.7MLPRX Oppenheimer Steelpath MlpPairCorr
  0.71MLPDX Oppenheimer Steelpath MlpPairCorr
  0.82MLPAX Oppenheimer Steelpath MlpPairCorr
  0.82MLPGX Oppenheimer Steelpath MlpPairCorr
  0.85MLPFX Oppenheimer Steelpath MlpPairCorr
  0.85MLPEX Steelpath SelectPairCorr
  0.81MLPMX Oppenheimer Steelpath MlpPairCorr

Moving against Oppenheimer Mutual Fund

  0.69OSMAX Oppenheimer InternationalPairCorr
  0.69OSMCX Oppenheimer InternationalPairCorr
  0.64EMLDX Invesco Emerging MarketsPairCorr
  0.58OSICX Oppenheimer StrategicPairCorr
  0.4OCCIX Oppenheimer CnsrvtvPairCorr
  0.36OCACX Oppenheimer Roc CaPairCorr
  0.32PXCIX Invesco Select RiskPairCorr
  0.31PXCCX Invesco Select RiskPairCorr
  0.69INSLX Aim International MutualPairCorr
  0.58INGFX Invesco OppenheimerPairCorr
  0.49INDFX Invesco InternationalPairCorr
  0.48INBQX Aim Investment FundsPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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