Oppenheimer Rochester Correlations

Mutual Funds . USA . 
Fund . Oppenheimer Rochester
RMUCX Fund  USD 15.15  0.02  0.13%   
The current 90-days correlation between Oppenheimer Rochester and Legg Mason Western is 0.66 (i.e., Poor diversification). The correlation of Oppenheimer Rochester 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 Rochester Correlation With Market

Average diversification

The correlation between Oppenheimer Rochester and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Rochester 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 Rochester. 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

  1.0VMICX Invesco Municipal IncomePairCorr
  0.92VMINX Invesco Municipal IncomePairCorr
  0.99VMIIX Invesco Municipal IncomePairCorr
  0.81OARDX Oppenheimer RisingPairCorr
  0.69AMHYX Invesco High YieldPairCorr
  0.89OSMAX Oppenheimer InternationalPairCorr
  0.63OTFCX Oppenheimer TargetPairCorr
  0.66PXMSX Invesco Select RiskPairCorr
  0.87INGFX Invesco OppenheimerPairCorr
  0.85CGREX Invesco Global RealPairCorr
  0.82CGRCX Oppenheimer ValuePairCorr
  0.71GGHYX Invesco Global HealthPairCorr
  0.72GGHCX Invesco Global HealthPairCorr
  0.81CHRRX Invesco CharterPairCorr
  0.81CHRSX Invesco CharterPairCorr
  0.74AADSX Invesco Growth AllocationPairCorr
  0.76ASIYX Invesco Asia PacificPairCorr
  0.76ASISX Invesco Asia PacificPairCorr
  0.83ASIAX Invesco Asia PacificPairCorr
  0.61ABRYX Invesco Balanced RiskPairCorr
  0.61ABRIX Invesco Balanced RiskPairCorr
  0.82OIDAX Oppenheimer InternationalPairCorr
  0.93ACCBX Invesco Porate BondPairCorr
  0.84IARRX Invesco Real EstatePairCorr
  0.9IARYX Invesco Real EstatePairCorr
  0.8ACSTX Invesco ComstockPairCorr
  0.92ACTHX Invesco High YieldPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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