Oppenheimer Glabal Correlations

OPPAX Fund

USD 94.21 0.22 0.23%

The current 90-days correlation between Oppenheimer Glabal and Oppenheimer Discovery Mid is 0.73 (i.e., Poor diversification). The correlation of Oppenheimer Glabal 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 Glabal Correlation With Market

Weak diversification

The correlation between Oppenheimer Glabal A and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Glabal A 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 Glabal A. 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	OARDX	Oppenheimer Rising	Pair Corr
0.8	OSMAX	Oppenheimer International	Pair Corr
0.8	OSMCX	Oppenheimer International	Pair Corr
0.65	PXCCX	Invesco Select Risk	Pair Corr
0.7	BRCRX	Invesco Balanced Risk	Pair Corr
0.65	BRCNX	Invesco Balanced Risk	Pair Corr
0.66	PXCIX	Invesco Select Risk	Pair Corr
0.7	BRCCX	Invesco Balanced Risk	Pair Corr
0.71	BRCAX	Invesco Balanced Risk	Pair Corr
0.71	BRCYX	Invesco Balanced Risk	Pair Corr

Related Correlations Analysis

	OEGAX	OPOCX	OPGIX	OARDX	OIDAX
OEGAX		0.93	-0.05	0.63	-0.47	OEGAX
OPOCX	0.93		0.12	0.57	-0.36	OPOCX
OPGIX	-0.05	0.12		0.35	0.81	OPGIX
OARDX	0.63	0.57	0.35		0.09	OARDX
OIDAX	-0.47	-0.36	0.81	0.09		OIDAX
	OEGAX	OPOCX	OPGIX	OARDX	OIDAX

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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

OPOCX	+ 0.93	OEGAX
OIDAX	+ 0.81	OPGIX
OARDX	+ 0.63	OEGAX
OARDX	+ 0.57	OPOCX
OARDX	+ 0.35	OPGIX
OPGIX	+ 0.12	OPOCX

High negative correlations

OIDAX	- 0.47	OEGAX
OIDAX	- 0.36	OPOCX
OPGIX	- 0.05	OEGAX

Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Glabal 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 Glabal'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	0.89	0.01	0.01	0.03	1.50	(0.82)	1.76	(1.95)	8.56
OPOCX	1.05	(0.03)	0.00	(0.03)	0.00	0.00	2.12	(2.09)	10.42
OPGIX	0.67	(0.10)	0.00	(0.53)	0.00	0.00	1.54	(1.25)	4.75
OARDX	0.64	(0.16)	0.00	(0.16)	0.00	0.00	0.84	(0.93)	12.98
OIDAX	0.66	(0.21)	0.00	(0.50)	0.00	0.00	1.05	(1.57)	7.48

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