Oppenheimer Global Correlations

Mutual Funds . USA . 
Fund . Oppenheimer Global Multi Asset
QMGYX Fund  USD 11.91  0.04  0.33%   
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 0.79 (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 manufacturing.

Moving together with Oppenheimer Mutual Fund

  0.82OSCIX Oppenheimer Intl SmallPairCorr
  0.64OSIIX Oppenheimer Global StrtgcPairCorr
  0.79OSINX Oppenheimer Strat IncmPairCorr
  0.79OSIYX Oppenheimer StrategicPairCorr
  0.82OSMNX Oppenheimer Intl SmallPairCorr
  0.82OSMYX Oppenheimer Intl SmallPairCorr
  0.83ODVNX Oppenheimer DevelopingPairCorr
  0.84ODVYX Oppenheimer DevelopingPairCorr
  1.0QMGIX Oppenheimer GlobalPairCorr
  1.0QMGRX 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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