Oppenheimer Gbl Correlations

QGRNX Fund

USD 19.00 0.07 0.37%

The current 90-days correlation between Oppenheimer Gbl Alloc and Oppenheimer Cap Apprec is 0.8 (i.e., Very poor diversification). The correlation of Oppenheimer Gbl 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 Gbl Correlation With Market

Poor diversification

The correlation between Oppenheimer Gbl Alloc and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Gbl Alloc 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 Gbl Alloc. 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

0.74	OSCIX	Oppenheimer Intl Small	Pair Corr
0.64	OSINX	Oppenheimer Strat Incm	Pair Corr
0.61	OSIYX	Oppenheimer Strategic	Pair Corr
0.74	OSMNX	Oppenheimer Intl Small	Pair Corr
0.74	OSMYX	Oppenheimer Intl Small	Pair Corr
0.64	OSPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.64	MLPZX	Oppenheimer Steelpath Mlp	Pair Corr
0.7	ODVNX	Oppenheimer Developing	Pair Corr
0.7	ODVYX	Oppenheimer Developing	Pair Corr
0.81	CGRNX	Oppenheimer Value	Pair Corr
0.83	CGRYX	Oppenheimer Disciplined	Pair Corr

Moving against Oppenheimer Mutual Fund

0.5

OFINX

Oppenheimer Corporate

Pair Corr

Related Correlations Analysis

	OTCNX	OGLNX	OPMNX	OMGNX	OSINX
OTCNX		0.89	0.96	0.93	-0.54	OTCNX
OGLNX	0.89		0.89	0.98	-0.15	OGLNX
OPMNX	0.96	0.89		0.93	-0.45	OPMNX
OMGNX	0.93	0.98	0.93		-0.25	OMGNX
OSINX	-0.54	-0.15	-0.45	-0.25		OSINX
	OTCNX	OGLNX	OPMNX	OMGNX	OSINX

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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

OMGNX	+ 0.98	OGLNX
OPMNX	+ 0.96	OTCNX
OMGNX	+ 0.93	OTCNX
OMGNX	+ 0.93	OPMNX
OGLNX	+ 0.89	OTCNX
OPMNX	+ 0.89	OGLNX

High negative correlations

OSINX	- 0.54	OTCNX
OSINX	- 0.45	OPMNX
OSINX	- 0.25	OMGNX
OSINX	- 0.15	OGLNX

Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Gbl 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 Gbl'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
OTCNX	1.34	(0.13)	0.00	(0.15)	0.00	0.00	2.55	(3.83)	7.16
OGLNX	0.93	(0.06)	0.00	(0.10)	0.00	0.00	1.63	(2.51)	6.11
OPMNX	0.89	(0.07)	0.00	(0.11)	0.00	0.00	1.48	(2.16)	4.04
OMGNX	0.87	(0.04)	0.00	(0.08)	0.00	0.00	1.68	(1.92)	4.97
OSINX	0.25	0.03	0.13	0.28	0.20	(0.43)	0.65	(0.33)	1.96

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