Oberweis International Correlations

OBIIX Fund

USD 9.39 0.12 1.29%

The current 90-days correlation between Oberweis International and Oberweis China Opportunities is 0.32 (i.e., Weak diversification). The correlation of Oberweis International 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 International Correlation With Market

Weak diversification

The correlation between Oberweis International Opportu and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oberweis International Opportu 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 International 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 gross domestic product.

Moving together with Oberweis Mutual Fund

1.0	OBIOX	Oberweis International	Pair Corr
0.93	OFIGX	Oberweis Funds	Pair Corr
0.87	OSMYX	Oppenheimer Intl Small	Pair Corr
0.87	OSCIX	Oppenheimer Intl Small	Pair Corr
0.87	OSMNX	Oppenheimer Intl Small	Pair Corr
0.89	TIDDX	T Rowe Price	Pair Corr
0.93	MIDGX	Mfs International New	Pair Corr
0.93	MIDHX	Mfs International New	Pair Corr
0.93	MIDRX	Mfs International New	Pair Corr

Moving against Oberweis Mutual Fund

0.59	KINAX	Kinetics Internet	Pair Corr
0.59	KINCX	Kinetics Internet	Pair Corr
0.58	KNPCX	Kinetics Paradigm Steady Growth	Pair Corr
0.58	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.58	KNPAX	Kinetics Paradigm Steady Growth	Pair Corr
0.57	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.56	KSOCX	Kinetics Small Cap	Pair Corr
0.56	KSCYX	Kinetics Small Cap	Pair Corr
0.56	KSCOX	Kinetics Small Cap	Pair Corr
0.43	LETRX	Voya Russia Fund	Pair Corr
0.31	CSQ	Calamos Strategic Total	Pair Corr
0.31	VTSAX	Vanguard Total Stock	Pair Corr

Related Correlations Analysis

	OBCHX	OBEGX	OBGIX	OBMCX	OBSIX	OBSOX	OCHIX	OMCIX
OBCHX		0.52	0.52	0.26	0.49	0.49	1.0	0.26	OBCHX
OBEGX	0.52		1.0	0.72	0.94	0.94	0.52	0.71	OBEGX
OBGIX	0.52	1.0		0.72	0.94	0.94	0.52	0.72	OBGIX
OBMCX	0.26	0.72	0.72		0.85	0.84	0.26	1.0	OBMCX
OBSIX	0.49	0.94	0.94	0.85		1.0	0.49	0.85	OBSIX
OBSOX	0.49	0.94	0.94	0.84	1.0		0.49	0.84	OBSOX
OCHIX	1.0	0.52	0.52	0.26	0.49	0.49		0.26	OCHIX
OMCIX	0.26	0.71	0.72	1.0	0.85	0.84	0.26		OMCIX
	OBCHX	OBEGX	OBGIX	OBMCX	OBSIX	OBSOX	OCHIX	OMCIX

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Risk-Adjusted Indicators

There is a big difference between Oberweis Mutual Fund performing well and Oberweis International 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 International'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
OBCHX	1.44	0.07	(0.01)	0.39	2.14	(1.48)	3.71	(2.62)	12.10
OBEGX	0.95	(0.10)	(0.05)	0.04	1.39	(0.93)	1.76	(2.24)	5.68
OBGIX	0.95	(0.10)	(0.05)	0.04	1.39	(0.93)	1.75	(2.22)	5.68
OBMCX	1.08	0.01	0.05	0.13	1.15	(1.16)	2.40	(2.01)	6.14
OBSIX	0.95	(0.08)	(0.03)	0.06	1.27	(0.94)	1.79	(2.26)	6.00
OBSOX	0.95	(0.09)	(0.03)	0.06	1.25	(0.94)	1.79	(2.26)	6.01
OCHIX	1.45	0.07	(0.01)	0.38	2.16	(1.48)	3.64	(2.66)	12.11
OMCIX	1.08	0.01	0.05	0.13	1.15	(1.16)	2.41	(2.01)	6.15

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