Oppenheimer Global Correlations

GLVAX Fund

USD 79.42 0.81 1.01%

The current 90-days correlation between Oppenheimer Global Val and Oppenheimer Discovery Mid is 0.64 (i.e., Poor diversification). The correlation of Oppenheimer Global 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 Global Correlation With Market

Significant diversification

The correlation between Oppenheimer Global Val and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Global Val and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Oppenheimer Global Val. 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 nation.

Moving together with Oppenheimer Mutual Fund

0.72

OTFCX

Oppenheimer Target

Pair Corr

Moving against Oppenheimer Mutual Fund

0.39	OSMAX	Oppenheimer International	Pair Corr
0.39	OSMCX	Oppenheimer International	Pair Corr
0.35	BRCCX	Invesco Balanced Risk	Pair Corr
0.33	BRCRX	Invesco Balanced Risk	Pair Corr
0.33	BRCNX	Invesco Balanced Risk	Pair Corr
0.33	BRCAX	Invesco Balanced Risk	Pair Corr
0.42	EMLDX	Invesco Emerging Markets	Pair Corr
0.33	BRCYX	Invesco Balanced Risk	Pair Corr
0.36	INGFX	Invesco Oppenheimer	Pair Corr

Related Correlations Analysis

	OEGAX	OPOCX	OPGIX	OARDX	OIDAX
OEGAX		0.95	0.14	0.62	-0.24	OEGAX
OPOCX	0.95		0.34	0.7	-0.03	OPOCX
OPGIX	0.14	0.34		0.66	0.89	OPGIX
OARDX	0.62	0.7	0.66		0.43	OARDX
OIDAX	-0.24	-0.03	0.89	0.43		OIDAX
	OEGAX	OPOCX	OPGIX	OARDX	OIDAX

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

OPOCX	+ 0.95	OEGAX
OIDAX	+ 0.89	OPGIX
OARDX	+ 0.7	OPOCX
OARDX	+ 0.66	OPGIX
OARDX	+ 0.62	OEGAX
OIDAX	+ 0.43	OARDX

High negative correlations

OIDAX	- 0.24	OEGAX
OIDAX	- 0.03	OPOCX

Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Global 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 Global'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
OEGAX	0.91	0.00	(0.01)	0.03	1.53	(0.83)	1.76	(1.95)	8.56
OPOCX	1.06	(0.06)	0.00	(0.09)	0.00	0.00	2.04	(2.09)	10.42
OPGIX	0.63	(0.11)	0.00	(0.50)	0.00	0.00	1.20	(1.10)	4.75
OARDX	0.65	(0.13)	0.00	(0.69)	0.00	0.00	0.89	(0.93)	12.98
OIDAX	0.63	(0.20)	0.00	13.53	0.00	0.00	0.71	(1.57)	7.48

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