Oppenheimer Flexible Correlations

QOPNX Fund

USD 23.91 0.02 0.08%

The current 90-days correlation between Oppenheimer Flexible and Calvert Large Cap is -0.08 (i.e., Good diversification). The correlation of Oppenheimer Flexible 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 Flexible Correlation With Market

Weak diversification

The correlation between Oppenheimer Flexible Strategie and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Flexible Strategie 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 Flexible Strategies. 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

0.78	OSCIX	Oppenheimer Intl Small	Pair Corr
0.8	OSIIX	Oppenheimer Global Strtgc	Pair Corr
0.82	OSINX	Oppenheimer Strat Incm	Pair Corr
0.79	OSIYX	Oppenheimer Strategic	Pair Corr
0.69	OSMNX	Oppenheimer Intl Small	Pair Corr
0.78	OSMYX	Oppenheimer Intl Small	Pair Corr
0.71	OSPAX	Oppenheimer Steelpath Mlp	Pair Corr
0.82	OSPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.7	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.76	OSPSX	Oppenheimer Steelpath Mlp	Pair Corr
0.72	MLPOX	Oppenheimer Steelpath Mlp	Pair Corr
0.7	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.75	MLPTX	Oppenheimer Steelpath Mlp	Pair Corr
0.82	MLPZX	Oppenheimer Steelpath Mlp	Pair Corr
0.64	ODVNX	Oppenheimer Developing	Pair Corr
0.65	ODVYX	Oppenheimer Developing	Pair Corr
0.79	QMGIX	Oppenheimer Global	Pair Corr
0.79	QMGRX	Oppenheimer Global	Pair Corr
0.79	QMGYX	Oppenheimer Global	Pair Corr
0.79	QMGAX	Oppenheimer Global	Pair Corr
0.79	QMGCX	Oppenheimer Global	Pair Corr
0.61	CGRNX	Oppenheimer Value	Pair Corr
0.62	CGRYX	Oppenheimer Disciplined	Pair Corr
0.79	OEMIX	Ophmr Eml Dbt	Pair Corr
0.81	OEMNX	Ophmr Eml Dbt	Pair Corr
0.81	OEMYX	Ophmr Eml Dbt	Pair Corr

Moving against Oppenheimer Mutual Fund

0.58	OFINX	Oppenheimer Corporate	Pair Corr
0.54	OFIIX	Oppenheimer Corporate	Pair Corr
0.53	OFIYX	Oppenheimer Corporate	Pair Corr

Related Correlations Analysis

	CMIFX	WILCX	CBLSX	LTFOX	NQCRX	ENGRX	PAVLX
CMIFX		0.86	-0.17	0.12	0.04	0.17	0.34	CMIFX
WILCX	0.86		0.18	0.36	0.38	0.12	0.69	WILCX
CBLSX	-0.17	0.18		0.27	0.59	-0.38	0.53	CBLSX
LTFOX	0.12	0.36	0.27		0.85	0.45	0.75	LTFOX
NQCRX	0.04	0.38	0.59	0.85		0.26	0.86	NQCRX
ENGRX	0.17	0.12	-0.38	0.45	0.26		0.21	ENGRX
PAVLX	0.34	0.69	0.53	0.75	0.86	0.21		PAVLX
	CMIFX	WILCX	CBLSX	LTFOX	NQCRX	ENGRX	PAVLX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

WILCX	+ 0.86	CMIFX
PAVLX	+ 0.86	NQCRX
NQCRX	+ 0.85	LTFOX
PAVLX	+ 0.75	LTFOX
PAVLX	+ 0.69	WILCX
NQCRX	+ 0.59	CBLSX

High negative correlations

ENGRX	- 0.38	CBLSX
CBLSX	- 0.17	CMIFX

Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Flexible 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 Flexible'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
CMIFX	0.07	0.00	0.72	(0.32)	0.00	(0.12)	0.10	(0.10)	0.41
WILCX	0.60	0.06	0.08	0.03	1.29	(0.58)	1.13	(1.32)	6.02
CBLSX	1.06	(0.31)	0.00	(0.43)	0.00	0.00	1.17	(1.57)	25.04
LTFOX	0.68	(0.07)	0.00	0.44	0.00	0.00	1.42	(1.60)	3.58
NQCRX	0.75	(0.01)	0.00	(0.11)	0.00	0.00	1.42	(2.01)	4.95
ENGRX	0.91	0.07	0.07	0.37	1.66	(1.03)	4.31	(3.65)	10.33
PAVLX	0.71	(0.05)	0.00	(0.18)	0.00	0.00	1.20	(1.25)	7.07

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC