Oppenheimer Global Correlations

OPGIX Fund

USD 47.22 0.15 0.32%

The current 90-days correlation between Oppenheimer Global Growth and Oppenheimer Discovery Fd is 0.71 (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

Average diversification

The correlation between Oppenheimer Global Growth and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Global Growth 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 Global Growth. 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 gross domestic product.

Moving together with Oppenheimer Mutual Fund

0.61	VMIIX	Invesco Municipal Income	Pair Corr
0.65	OSICX	Oppenheimer Strategic	Pair Corr
0.77	OSMAX	Oppenheimer International	Pair Corr
0.77	OSMCX	Oppenheimer International	Pair Corr
0.76	PXCCX	Invesco Select Risk	Pair Corr
0.61	BRCRX	Invesco Balanced Risk	Pair Corr
0.77	PXCIX	Invesco Select Risk	Pair Corr
0.61	BRCCX	Invesco Balanced Risk	Pair Corr
0.61	BRCAX	Invesco Balanced Risk	Pair Corr
0.66	EMLDX	Invesco Emerging Markets	Pair Corr
0.66	OCACX	Oppenheimer Roc Ca	Pair Corr
0.76	OCCIX	Oppenheimer Cnsrvtv	Pair Corr

Moving against Oppenheimer Mutual Fund

0.33	MLPAX	Oppenheimer Steelpath Mlp	Pair Corr
0.33	MLPGX	Oppenheimer Steelpath Mlp	Pair Corr

Related Correlations Analysis

	OPOCX	OPPAX	AQUI	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3	SITKF
OPOCX		0.21	0.0	0.46	0.7	0.46	0.67	0.19	0.67	-0.05	OPOCX
OPPAX	0.21		0.0	0.6	0.38	-0.54	0.38	-0.59	-0.28	0.29	OPPAX
AQUI	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	AQUI
MSTSX	0.46	0.6	0.0		0.53	-0.36	0.76	-0.44	-0.11	0.43	MSTSX
LBHIX	0.7	0.38	0.0	0.53		0.21	0.78	0.05	0.33	-0.26	LBHIX
VIASP	0.46	-0.54	0.0	-0.36	0.21		0.11	0.83	0.76	-0.42	VIASP
RRTLX	0.67	0.38	0.0	0.76	0.78	0.11		-0.04	0.14	-0.05	RRTLX
OSHDF	0.19	-0.59	0.0	-0.44	0.05	0.83	-0.04		0.54	-0.36	OSHDF
70082LAB3	0.67	-0.28	0.0	-0.11	0.33	0.76	0.14	0.54		-0.11	70082LAB3
SITKF	-0.05	0.29	0.0	0.43	-0.26	-0.42	-0.05	-0.36	-0.11		SITKF
	OPOCX	OPPAX	AQUI	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3	SITKF

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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

OSHDF	+ 0.83	VIASP
RRTLX	+ 0.78	LBHIX
RRTLX	+ 0.76	MSTSX
70082LAB3	+ 0.76	VIASP
LBHIX	+ 0.7	OPOCX
RRTLX	+ 0.67	OPOCX

High negative correlations

OSHDF	- 0.59	OPPAX
VIASP	- 0.54	OPPAX
OSHDF	- 0.44	MSTSX
SITKF	- 0.42	VIASP
SITKF	- 0.36	OSHDF
VIASP	- 0.36	MSTSX

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
OPOCX	1.05	(0.03)	0.00	(0.03)	0.00	0.00	2.12	(2.09)	10.42
OPPAX	0.86	(0.17)	0.00	(0.20)	0.00	0.00	1.56	(1.92)	12.96
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MSTSX	0.48	(0.03)	0.00	(0.41)	0.00	0.00	1.21	(1.00)	4.19
LBHIX	0.10	(0.02)	0.00	(0.28)	0.00	0.00	0.24	(0.24)	0.94
VIASP	0.75	0.16	0.10	(1.17)	1.03	(0.85)	2.00	(1.20)	6.28
RRTLX	0.24	(0.03)	0.00	(0.43)	0.00	0.00	0.48	(0.48)	2.23
OSHDF	46.68	24.42	0.00	(1.47)	0.00	0.00	0.00	0.00	1,329
70082LAB3	0.64	0.10	0.08	0.90	0.83	(0.79)	1.75	(0.78)	6.86
SITKF	5.32	0.55	0.08	0.72	5.02	(8.22)	14.29	(9.09)	30.02

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