Oberweis Emerging Correlations

Mutual Funds . USA . 
Fund . Oberweis Emerging Growth
OBGIX Fund  USD 32.08  0.28  0.88%   
The current 90-days correlation between Oberweis Emerging Growth and Dreyfusstandish Global Fixed is 0.01 (i.e., Significant 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

Poor diversification

The correlation between Oberweis Emerging Growth and DJI is 0.69 (i.e., Poor 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 gross domestic product.

Moving together with Oberweis Mutual Fund

  1.0OBEGX Oberweis Emerging GrowthPairCorr
  0.72OBMCX Oberweis Micro CapPairCorr
  0.94OBSIX Oberweis Small CapPairCorr
  0.94OBSOX Oberweis Small CapPairCorr
  0.72OMCIX Oberweis Micro CapPairCorr
  0.95FSWFX American Funds SmallcapPairCorr
  0.95FSFWX American Funds SmallcapPairCorr
  0.95SCWCX American Fds SmallcapPairCorr
  0.95SCWFX Smallcap WorldPairCorr
  0.95SMCWX Smallcap WorldPairCorr
  0.95CSPFX Smallcap WorldPairCorr
  0.95CSPAX Smallcap WorldPairCorr
  0.95CSPEX Smallcap WorldPairCorr
  0.95RSLCX Smallcap WorldPairCorr
  0.95RLLGX Smallcap WorldPairCorr
  0.66MAAQX Morgan Stanley InstiPairCorr
  0.78AMTYX Ab All MarketPairCorr
  0.73BDAUX Baron Durable AdvantagePairCorr
  0.64CHASX Chase GrowthPairCorr
  0.64HGOYX Hartford GrowthPairCorr
  0.68VIIIX Vanguard InstitutionalPairCorr

Related Correlations Analysis

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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   
TFBIX
+ 0.96
PATFX
MDMTX
+ 0.86
DSDYX
MDMTX
+ 0.85
TFBIX
MDMTX
+ 0.79
PATFX
PATFX
+ 0.72
DSDYX
TFBIX
+ 0.71
DSDYX
  
High negative correlations   
MDMTX
- 0.54
SWSFX
SWSFX
- 0.53
DSDYX
SWSFX
- 0.13
PATFX
TFBIX
- 0.12
SWSFX
MDMTX
- 0.11
CCD
CCD
- 0.02
DSDYX

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.

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