Oppenheimer Gold Correlations

OGMNX Fund

USD 27.97 0.69 2.53%

The current 90-days correlation between Oppenheimer Gold Spec and Touchstone Small Cap is -0.02 (i.e., Good diversification). The correlation of Oppenheimer Gold 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 Gold Correlation With Market

Significant diversification

The correlation between Oppenheimer Gold Spec and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Gold Spec 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 Gold Spec. 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

0.67	ODVNX	Oppenheimer Developing	Pair Corr
0.68	ODVYX	Oppenheimer Developing	Pair Corr
0.65	QMGIX	Oppenheimer Global	Pair Corr
0.62	QMGRX	Oppenheimer Global	Pair Corr
0.62	QMGYX	Oppenheimer Global	Pair Corr
0.64	QMGAX	Oppenheimer Global	Pair Corr
0.61	QMGCX	Oppenheimer Global	Pair Corr

Moving against Oppenheimer Mutual Fund

0.37	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.36	OSPAX	Oppenheimer Steelpath Mlp	Pair Corr
0.36	MLPOX	Oppenheimer Steelpath Mlp	Pair Corr
0.35	OSPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.35	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.35	MLPZX	Oppenheimer Steelpath Mlp	Pair Corr
0.33	MLPTX	Oppenheimer Steelpath Mlp	Pair Corr
0.32	OSPSX	Oppenheimer Steelpath Mlp	Pair Corr

Related Correlations Analysis

	TVOYX	SCYVX	ASCGX	PGRTX	VYRDX	SSMAX
TVOYX		0.96	0.94	0.98	1.0	0.99	TVOYX
SCYVX	0.96		0.97	0.95	0.95	0.95	SCYVX
ASCGX	0.94	0.97		0.96	0.94	0.95	ASCGX
PGRTX	0.98	0.95	0.96		0.98	0.99	PGRTX
VYRDX	1.0	0.95	0.94	0.98		0.99	VYRDX
SSMAX	0.99	0.95	0.95	0.99	0.99		SSMAX
	TVOYX	SCYVX	ASCGX	PGRTX	VYRDX	SSMAX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Gold 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 Gold'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
TVOYX	0.75	0.02	0.07	0.13	0.50	(0.94)	1.70	(1.05)	6.73
SCYVX	0.84	0.17	0.08	1.12	0.64	(1.03)	1.95	(1.44)	7.36
ASCGX	1.02	0.19	0.11	0.54	0.87	(1.17)	2.24	(1.88)	6.65
PGRTX	0.83	0.05	0.09	0.15	0.80	(0.95)	1.77	(1.62)	6.75
VYRDX	0.78	0.03	0.10	0.14	0.48	(0.94)	1.72	(1.21)	7.55
SSMAX	0.70	0.01	0.05	0.12	0.55	(0.83)	1.68	(1.13)	6.00

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