Oberweis China Correlations

OBCHX Fund

USD 7.91 0.06 0.76%

The current 90-days correlation between Oberweis China Oppor and Matthews China Fund is 0.89 (i.e., Very poor diversification). The correlation of Oberweis China 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.

Oberweis China Correlation With Market

Average diversification

The correlation between Oberweis China Opportunities and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oberweis China Opportunities 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 Oberweis China Opportunities. 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 rate.

Moving together with Oberweis Mutual Fund

0.88	OBIIX	Oberweis International	Pair Corr
0.88	OBIOX	Oberweis International	Pair Corr
1.0	OCHIX	Oberweis China Oppor	Pair Corr
0.93	OFIGX	Oberweis Funds	Pair Corr
0.98	FHKTX	Fidelity China Region	Pair Corr
0.95	FCHKX	Fidelity China Region	Pair Corr
0.98	FHKAX	Fidelity China Region	Pair Corr
0.98	FHKIX	Fidelity China Region	Pair Corr
0.98	FIQFX	Fidelity China Region	Pair Corr
0.95	FHKCX	Fidelity China Region	Pair Corr
0.99	MICFX	Matthews China	Pair Corr
0.99	MCHFX	Matthews China	Pair Corr
0.87	GSFUX	Goldman Sachs Bond	Pair Corr
0.85	DODWX	Dodge Global Stock	Pair Corr
0.95	IUCEX	Jpmorgan International	Pair Corr
0.86	IDPYX	Alliancebernstein	Pair Corr
0.88	PTRGX	Putman Absolute Return	Pair Corr
0.85	HWDYX	Hartford World	Pair Corr
0.91	DVRCX	Mfs Global Alternative	Pair Corr
0.87	TAIBX	Prudential E Bond	Pair Corr
0.86	PRICX	Prudential Government	Pair Corr
0.93	HILIX	Hartford Interna	Pair Corr

Moving against Oberweis Mutual Fund

0.7	OBMCX	Oberweis Micro Cap	Pair Corr
0.69	OMCIX	Oberweis Micro Cap	Pair Corr
0.68	OBEGX	Oberweis Emerging Growth	Pair Corr
0.68	OBGIX	Oberweis Emerging Growth	Pair Corr
0.65	SMPSX	Semiconductor Ultrasector	Pair Corr
0.61	OBSIX	Oberweis Small Cap	Pair Corr
0.61	OBSOX	Oberweis Small Cap	Pair Corr
0.66	SMPIX	Semiconductor Ultrasector	Pair Corr
0.42	RGNCX	Victory Global Natural	Pair Corr
0.41	RSNRX	Victory Global Natural	Pair Corr
0.4	RSNYX	Victory Global Natural	Pair Corr

Related Correlations Analysis

	MCHFX	PRLAX	MINDX	ICHKX	LETRX
MCHFX		0.69	-0.68	0.99	0.0	MCHFX
PRLAX	0.69		-0.53	0.61	0.0	PRLAX
MINDX	-0.68	-0.53		-0.63	0.0	MINDX
ICHKX	0.99	0.61	-0.63		0.0	ICHKX
LETRX	0.0	0.0	0.0	0.0		LETRX
	MCHFX	PRLAX	MINDX	ICHKX	LETRX

Click cells to compare fundamentals

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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

ICHKX	+ 0.99	MCHFX
PRLAX	+ 0.69	MCHFX
ICHKX	+ 0.61	PRLAX
LETRX	+ 0.0	MCHFX
LETRX	+ 0.0	PRLAX
LETRX	+ 0.0	MINDX

High negative correlations

MINDX	- 0.68	MCHFX
ICHKX	- 0.63	MINDX
MINDX	- 0.53	PRLAX
LETRX	- 0.0	ICHKX
LETRX	- 0.0	MINDX
LETRX	- 0.0	PRLAX

Risk-Adjusted Indicators

There is a big difference between Oberweis Mutual Fund performing well and Oberweis China 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 Oberweis China'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
MCHFX	1.19	0.16	0.10	0.40	1.25	(1.43)	2.70	(2.85)	6.92
PRLAX	1.06	0.13	0.09	(1.68)	1.33	(1.11)	2.41	(2.00)	5.45
MINDX	1.03	(0.33)	0.00	1.54	0.00	0.00	1.66	(2.04)	14.48
ICHKX	1.04	0.14	0.10	1.19	1.13	(1.25)	2.47	(2.31)	6.03
LETRX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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