Oppenheimer Rchster Correlations

Mutual Funds . USA . 
Fund . Oppenheimer Rchster Amt
OPNYX Fund  USD 10.66  0.03  0.28%   
The current 90-days correlation between Oppenheimer Rchster Amt and New Jersey Tax Free is 0.12 (i.e., Average diversification). The correlation of Oppenheimer Rchster 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 Rchster Correlation With Market

Average diversification

The correlation between Oppenheimer Rchster Amt and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Rchster Amt 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 Rchster Amt. 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 manufacturing.

Moving together with Oppenheimer Mutual Fund

  0.99VMICX Invesco Municipal IncomePairCorr
  0.89VMINX Invesco Municipal IncomePairCorr
  0.89VMIIX Invesco Municipal IncomePairCorr
  0.71STBAX Invesco Short TermPairCorr
  0.66STBYX Invesco Short TermPairCorr
  0.7SDPSX Invesco Short DurationPairCorr
  0.97IORJX Aim Taxexempt FundsPairCorr
  0.9IORNX Aim Taxexempt FundsPairCorr
  0.88IORMX Aim Taxexempt FundsPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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