Glg Intl Correlations

GLVIX Fund

USD 80.68 0.51 0.64%

The current 90-days correlation between Glg Intl Small and Oppenheimer Intl Small is -0.07 (i.e., Good diversification). The correlation of Glg Intl 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.

Glg Intl Correlation With Market

Significant diversification

The correlation between Glg Intl Small and NYA is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Glg Intl Small and NYA in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Glg Intl Small. 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 gross domestic product.

Moving together with Glg Mutual Fund

0.65	OSCNX	Oppenheimer Main Street	Pair Corr
0.71	OSCIX	Oppenheimer Intl Small	Pair Corr
0.64	OSCYX	Oppenheimer Main Street	Pair Corr
0.72	OSMNX	Oppenheimer Intl Small	Pair Corr
0.83	OSMYX	Oppenheimer Intl Small	Pair Corr
0.73	ODINX	Oppenheimer Discovery	Pair Corr
0.73	OEGYX	Oppenhmr Discovery Mid	Pair Corr
0.73	OEGIX	Oppenhmr Discovery Mid	Pair Corr
0.84	OEGNX	Oppenhmr Discovery Mid	Pair Corr
0.66	OEMIX	Ophmr Eml Dbt	Pair Corr
0.73	OEMNX	Ophmr Eml Dbt	Pair Corr
0.73	OEMYX	Ophmr Eml Dbt	Pair Corr
0.64	OFIIX	Oppenheimer Corporate	Pair Corr
0.66	OFINX	Oppenheimer Corporate	Pair Corr
0.64	OFIYX	Oppenheimer Corporate	Pair Corr

Related Correlations Analysis

	OSCIX	OSIIX	OSINX	OSIYX	OSMNX	OSPAX	OSPPX	OTCNX	OCAYX	MLPOX
OSCIX		0.75	0.8	0.8	1.0	-0.21	-0.23	0.43	0.74	-0.21	OSCIX
OSIIX	0.75		0.99	0.99	0.74	0.16	0.26	0.62	0.6	0.16	OSIIX
OSINX	0.8	0.99		0.99	0.79	0.14	0.22	0.61	0.63	0.13	OSINX
OSIYX	0.8	0.99	0.99		0.8	0.1	0.19	0.59	0.63	0.1	OSIYX
OSMNX	1.0	0.74	0.79	0.8		-0.22	-0.25	0.42	0.74	-0.22	OSMNX
OSPAX	-0.21	0.16	0.14	0.1	-0.22		0.84	0.09	-0.25	1.0	OSPAX
OSPPX	-0.23	0.26	0.22	0.19	-0.25	0.84		0.4	-0.21	0.84	OSPPX
OTCNX	0.43	0.62	0.61	0.59	0.42	0.09	0.4		0.36	0.08	OTCNX
OCAYX	0.74	0.6	0.63	0.63	0.74	-0.25	-0.21	0.36		-0.25	OCAYX
MLPOX	-0.21	0.16	0.13	0.1	-0.22	1.0	0.84	0.08	-0.25		MLPOX
	OSCIX	OSIIX	OSINX	OSIYX	OSMNX	OSPAX	OSPPX	OTCNX	OCAYX	MLPOX

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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

OSMNX	+ 1.0	OSCIX
MLPOX	+ 1.0	OSPAX
OSINX	+ 0.99	OSIIX
OSIYX	+ 0.99	OSIIX
OSIYX	+ 0.99	OSINX
OSPPX	+ 0.84	OSPAX

High negative correlations

MLPOX	- 0.25	OCAYX
OCAYX	- 0.25	OSPAX
OSPPX	- 0.25	OSMNX
OSPPX	- 0.23	OSCIX
MLPOX	- 0.22	OSMNX
OSPAX	- 0.22	OSMNX

Risk-Adjusted Indicators

There is a big difference between Glg Mutual Fund performing well and Glg Intl 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 Glg Intl'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
OSCIX	0.60	(0.07)	0.00	(0.07)	0.00	0.00	1.18	(1.46)	3.50
OSIIX	0.30	(0.02)	0.00	(0.08)	0.00	0.00	0.66	(0.67)	1.66
OSINX	0.28	(0.02)	0.00	(0.06)	0.00	0.00	0.66	(0.67)	2.28
OSIYX	0.31	(0.03)	0.00	(0.08)	0.00	0.00	0.67	(0.67)	2.28
OSMNX	0.60	(0.07)	0.00	(0.08)	0.00	0.00	1.19	(1.44)	3.47
OSPAX	0.65	0.08	0.07	0.09	0.97	(0.65)	1.42	(1.28)	4.61
OSPPX	0.64	0.13	0.13	0.50	0.81	(0.67)	1.45	(1.31)	3.59
OTCNX	0.81	0.06	0.07	(0.70)	0.88	(0.96)	1.97	(1.56)	4.69
OCAYX	0.15	(0.02)	0.00	(0.29)	0.00	0.00	0.37	(0.38)	1.00
MLPOX	0.65	0.08	0.07	0.09	0.99	(0.63)	1.35	(1.30)	4.62

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