Oppenheimer Global Correlations

Mutual Funds USA . 
Fund . Oppenheimer Global Multi Asset
QMGRX Fund  USD 11.63  0.07  0.61%   
The current 90-days correlation between Oppenheimer Global and Sprott Gold Equity is 0.61 (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 0.78 (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 metropolitan statistical area.

Moving together with Oppenheimer Mutual Fund

  0.85OSCIX Oppenheimer Intl SmallPairCorr
  0.75OSIIX Oppenheimer Global StrtgcPairCorr
  0.77OSINX Oppenheimer Strat IncmPairCorr
  0.78OSIYX Oppenheimer StrategicPairCorr
  0.84OSMNX Oppenheimer Intl SmallPairCorr
  0.85OSMYX Oppenheimer Intl SmallPairCorr
  0.86ODVNX Oppenheimer DevelopingPairCorr
  0.86ODVYX Oppenheimer DevelopingPairCorr
  1.0QMGIX Oppenheimer GlobalPairCorr
  1.0QMGYX Oppenheimer GlobalPairCorr
  1.0QMGAX Oppenheimer GlobalPairCorr
  1.0QMGCX Oppenheimer GlobalPairCorr

Related Correlations Analysis

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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.

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