Oppenheimer Rochester Correlations

OPATX Fund

USD 10.20 0.02 0.20%

The current 90-days correlation between Oppenheimer Rochester and Vanguard Pennsylvania Long Term is 0.85 (i.e., Very poor diversification). The correlation of Oppenheimer Rochester 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 Rochester Correlation With Market

Weak diversification

The correlation between Oppenheimer Rochester Pa and NYA is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oppenheimer Rochester Pa and NYA 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 Rochester Pa. 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 estimate.

Moving together with Oppenheimer Mutual Fund

0.94	VMICX	Invesco Municipal Income	Pair Corr
0.93	VMINX	Invesco Municipal Income	Pair Corr
0.92	VMIIX	Invesco Municipal Income	Pair Corr
0.76	OSMAX	Oppenheimer International	Pair Corr
0.64	PXCCX	Invesco Select Risk	Pair Corr
0.64	PXCIX	Invesco Select Risk	Pair Corr
0.72	EMLDX	Invesco Emerging Markets	Pair Corr
0.66	OCCIX	Oppenheimer Cnsrvtv	Pair Corr
0.74	INDFX	Invesco International	Pair Corr
0.71	INGFX	Invesco Oppenheimer	Pair Corr
0.76	INSLX	Aim International Mutual	Pair Corr

Moving against Oppenheimer Mutual Fund

0.57	BRCRX	Invesco Balanced Risk	Pair Corr
0.56	BRCCX	Invesco Balanced Risk	Pair Corr
0.6	FSTEX	Invesco Energy	Pair Corr
0.34	IOGYX	Invesco Gold Special Downward Rally	Pair Corr

Related Correlations Analysis

	VPAIX	VPALX	FRPRX	FRPAX
VPAIX		1.0	0.96	0.96	VPAIX
VPALX	1.0		0.96	0.96	VPALX
FRPRX	0.96	0.96		0.99	FRPRX
FRPAX	0.96	0.96	0.99		FRPAX
	VPAIX	VPALX	FRPRX	FRPAX

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Risk-Adjusted Indicators

There is a big difference between Oppenheimer Mutual Fund performing well and Oppenheimer Rochester 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 Rochester'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
VPAIX	0.15	(0.02)	(0.24)	0.37	(0.37)	0.93
VPALX	0.15	(0.02)	(0.22)	0.37	(0.37)	1.02
FRPRX	0.14	(0.01)	(0.12)	0.34	(0.34)	1.14
FRPAX	0.16	(0.01)	(0.13)	0.34	(0.34)	0.91

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