Oppenheimer Global Correlations

QMGCX Fund

USD 12.92 0.08 0.62%

The current 90-days correlation between Oppenheimer Global and Transamerica Large Cap is 0.74 (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

Poor diversification

The correlation between Oppenheimer Global Multi Asset and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Global Multi Asset 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 Multi Asset. 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 private.

Moving together with Oppenheimer Mutual Fund

0.77	OSIIX	Oppenheimer Global Strtgc	Pair Corr
0.78	OSINX	Oppenheimer Strat Incm	Pair Corr
0.76	OSIYX	Oppenheimer Strategic	Pair Corr
0.8	OTCNX	Oppenheimer Cap Apprec	Pair Corr
0.84	OTCYX	Oppenheimer Capital	Pair Corr
0.91	OCAYX	Oppenheimer Roc Ca	Pair Corr
0.86	ODINX	Oppenheimer Discovery	Pair Corr
0.86	ODIYX	Oppenheimer Discovery	Pair Corr
0.97	ODVNX	Oppenheimer Developing	Pair Corr
0.97	ODVYX	Oppenheimer Developing	Pair Corr
1.0	QMGIX	Oppenheimer Global	Pair Corr
1.0	QMGRX	Oppenheimer Global	Pair Corr
0.94	QMGAX	Oppenheimer Global	Pair Corr
0.8	CGRNX	Oppenheimer Value	Pair Corr
0.76	OGIYX	Oppenheimer Global	Pair Corr
0.77	OGIIX	Oppenheimer Global	Pair Corr
0.75	OGINX	Oppenheimer Gr Incm	Pair Corr
0.92	OGLIX	Oppenheimer Global	Pair Corr
0.75	OGMIX	Oppenheimer Gold Special Steady Growth	Pair Corr
0.74	OGMNX	Oppenheimer Gold Spec Steady Growth	Pair Corr
0.91	OYCIX	Oppenhemier Cnsrvtv	Pair Corr
0.94	OYMIX	Oppenheimer Moderate	Pair Corr
0.94	OYRDX	Oppenheimer Rising	Pair Corr

Moving against Oppenheimer Mutual Fund

0.39	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.39	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.35	OSPAX	Oppenheimer Steelpath Mlp	Pair Corr
0.35	MLPOX	Oppenheimer Steelpath Mlp	Pair Corr

Related Correlations Analysis

	TALCX	AMFFX	FCLKX	GMLVX	JDVNX	LMISX
TALCX		0.77	0.93	0.93	0.89	0.94	TALCX
AMFFX	0.77		0.89	0.87	0.86	0.85	AMFFX
FCLKX	0.93	0.89		0.96	0.94	0.97	FCLKX
GMLVX	0.93	0.87	0.96		0.91	0.96	GMLVX
JDVNX	0.89	0.86	0.94	0.91		0.93	JDVNX
LMISX	0.94	0.85	0.97	0.96	0.93		LMISX
	TALCX	AMFFX	FCLKX	GMLVX	JDVNX	LMISX

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
TALCX	0.45	0.01	(0.01)	0.07	0.48	(0.51)	0.96	(0.61)	3.42
AMFFX	0.40	0.03	(0.06)	1.13	0.54	(0.41)	0.81	(0.78)	2.96
FCLKX	0.50	0.00	(0.01)	0.07	0.74	(0.48)	1.14	(1.14)	4.07
GMLVX	0.62	0.07	0.05	0.16	0.72	(0.68)	1.35	(0.90)	4.57
JDVNX	0.49	0.00	(0.02)	0.06	0.64	(0.49)	1.09	(0.89)	3.80
LMISX	0.51	0.02	0.01	0.08	0.65	(0.50)	1.26	(1.00)	4.08

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