Oberweis Emerging Correlations

OBEGX Fund

USD 28.50 0.07 0.25%

The current 90-days correlation between Oberweis Emerging Growth and Oberweis Micro Cap Fund is 0.9 (i.e., Almost no diversification). The correlation of Oberweis Emerging 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 Emerging Correlation With Market

Very weak diversification

The correlation between Oberweis Emerging Growth and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oberweis Emerging Growth 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 Emerging Growth. 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 price.

Moving together with Oberweis Mutual Fund

1.0	OBGIX	Oberweis Emerging Growth	Pair Corr
0.98	OBMCX	Oberweis Micro Cap	Pair Corr
0.96	OBSIX	Oberweis Small Cap	Pair Corr
0.91	OBSOX	Oberweis Small Cap	Pair Corr
0.91	OMCIX	Oberweis Micro Cap	Pair Corr
0.95	FSWFX	American Funds Smallcap	Pair Corr
0.95	FSFWX	American Funds Smallcap	Pair Corr
0.88	SCWCX	American Fds Smallcap	Pair Corr
0.89	SCWFX	Smallcap World	Pair Corr
0.79	SMCWX	Smallcap World	Pair Corr
0.88	CSPFX	Smallcap World	Pair Corr
0.95	CSPAX	Smallcap World	Pair Corr
0.95	CSPEX	Smallcap World	Pair Corr
0.95	RSLCX	Smallcap World	Pair Corr
0.89	RLLGX	Smallcap World	Pair Corr

Moving against Oberweis Mutual Fund

0.68	OBCHX	Oberweis China Oppor	Pair Corr
0.68	OCHIX	Oberweis China Oppor	Pair Corr
0.65	OFIGX	Oberweis Funds	Pair Corr
0.49	OBIIX	Oberweis International	Pair Corr
0.39	OBIOX	Oberweis International	Pair Corr
0.88	DPFAX	Deer Park Total	Pair Corr
0.81	HOSGX	Short Term Government	Pair Corr
0.73	GSRUX	Goldman Sachs Inflation	Pair Corr
0.7	DBLLX	Doubleline Low Duration	Pair Corr
0.68	ANDNX	Aqr International	Pair Corr
0.66	FRACX	Touchstone Flexible	Pair Corr
0.63	CTIVX	Columbia Strategic Income	Pair Corr
0.48	PYGFX	Payden Global Fixed	Pair Corr
0.47	FCEEX	Franklin Fund Allocator	Pair Corr
0.42	MMIIX	Mfs Municipal High	Pair Corr
0.33	PFN	Pimco Income Strategy	Pair Corr
0.32	XPPRX	Voya Prime Rate	Pair Corr

Related Correlations Analysis

	OBMCX	OBSOX	OBIOX	OBCHX	HRTVX
OBMCX		0.9	-0.4	-0.68	0.65	OBMCX
OBSOX	0.9		-0.47	-0.58	0.86	OBSOX
OBIOX	-0.4	-0.47		0.75	-0.4	OBIOX
OBCHX	-0.68	-0.58	0.75		-0.33	OBCHX
HRTVX	0.65	0.86	-0.4	-0.33		HRTVX
	OBMCX	OBSOX	OBIOX	OBCHX	HRTVX

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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

OBSOX	+ 0.9	OBMCX
HRTVX	+ 0.86	OBSOX
OBCHX	+ 0.75	OBIOX
HRTVX	+ 0.65	OBMCX

High negative correlations

OBCHX	- 0.68	OBMCX
OBCHX	- 0.58	OBSOX
OBIOX	- 0.47	OBSOX
HRTVX	- 0.4	OBIOX
OBIOX	- 0.4	OBMCX
HRTVX	- 0.33	OBCHX

Risk-Adjusted Indicators

There is a big difference between Oberweis Mutual Fund performing well and Oberweis Emerging 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 Emerging'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
OBMCX	1.41	(0.21)	0.00	(0.16)	0.00	0.00	2.34	(3.58)	6.22
OBSOX	1.16	(0.16)	0.00	(0.13)	0.00	0.00	1.81	(3.22)	5.74
OBIOX	0.76	0.09	0.08	0.13	0.97	(0.81)	1.60	(1.31)	6.69
OBCHX	1.61	0.22	0.11	0.78	1.64	(1.89)	3.16	(3.19)	10.61
HRTVX	1.01	(0.23)	0.00	(0.22)	0.00	0.00	1.53	(2.46)	6.78

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