Oberweis Micro Correlations

OBMCX Fund

USD 49.37 0.23 0.47%

The current 90-days correlation between Oberweis Micro Cap and Oberweis Emerging Growth is 0.88 (i.e., Very poor diversification). The correlation of Oberweis Micro 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 Micro Correlation With Market

Very poor diversification

The correlation between Oberweis Micro Cap Fund and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oberweis Micro Cap Fund 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 Micro Cap Fund. 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 main economic indicators.

Moving together with Oberweis Mutual Fund

0.72	OBEGX	Oberweis Emerging Growth	Pair Corr
0.72	OBGIX	Oberweis Emerging Growth	Pair Corr
0.85	OBSIX	Oberweis Small Cap	Pair Corr
0.84	OBSOX	Oberweis Small Cap	Pair Corr
1.0	OMCIX	Oberweis Micro Cap	Pair Corr
0.99	VSGAX	Vanguard Small Cap	Pair Corr
0.99	VSGIX	Vanguard Small Cap	Pair Corr
0.99	VISGX	Vanguard Small Cap	Pair Corr
0.99	VEXPX	Vanguard Explorer	Pair Corr
0.99	VEXRX	Vanguard Explorer	Pair Corr
0.98	JGMIX	Janus Triton	Pair Corr
0.98	JGMRX	Janus Triton	Pair Corr
0.98	JGMAX	Janus Triton	Pair Corr
0.98	JGMCX	Janus Triton	Pair Corr
0.98	JGMNX	Janus Triton	Pair Corr
0.66	FSMMX	Fs Multi Strategy	Pair Corr
0.91	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.9	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.9	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr
0.9	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.97	LGWIX	Ladenburg Growth	Pair Corr
0.75	FIKAX	Fidelity Advisor Energy	Pair Corr
0.94	WCPSX	Mobile Telecommunicatio	Pair Corr
0.8	VASGX	Vanguard Lifestrategy	Pair Corr
0.95	DFMGX	Df Dent Midcap	Pair Corr
0.85	VTWAX	Vanguard Total World	Pair Corr

Moving against Oberweis Mutual Fund

0.75	OBEMX	Oberweis Emerging Markets	Pair Corr
0.75	OIEMX	Oberweis Emerging Markets	Pair Corr
0.31	OBIOX	Oberweis International	Pair Corr
0.58	BTMPX	Ishares Msci Eafe	Pair Corr
0.58	MDIIX	Blackrock Intern Index	Pair Corr
0.57	BTMKX	Blackrock International	Pair Corr
0.38	FMFFX	Fs Managed Futures	Pair Corr

Related Correlations Analysis

	OBEGX	OBSOX	BRUSX	PRCGX	KSCOX
OBEGX		0.94	0.59	0.53	0.47	OBEGX
OBSOX	0.94		0.74	0.5	0.64	OBSOX
BRUSX	0.59	0.74		0.16	0.93	BRUSX
PRCGX	0.53	0.5	0.16		-0.04	PRCGX
KSCOX	0.47	0.64	0.93	-0.04		KSCOX
	OBEGX	OBSOX	BRUSX	PRCGX	KSCOX

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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	+ 0.94	OBEGX
KSCOX	+ 0.93	BRUSX
BRUSX	+ 0.74	OBSOX
KSCOX	+ 0.64	OBSOX
BRUSX	+ 0.59	OBEGX
PRCGX	+ 0.53	OBEGX

High negative correlations

KSCOX

- 0.04

PRCGX

Risk-Adjusted Indicators

There is a big difference between Oberweis Mutual Fund performing well and Oberweis Micro 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 Micro'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
OBEGX	0.95	(0.10)	(0.05)	0.04	1.39	(0.93)	1.76	(2.24)	5.68
OBSOX	0.95	(0.09)	(0.03)	0.06	1.25	(0.94)	1.79	(2.26)	6.01
BRUSX	1.02	0.03	0.06	0.15	1.00	(1.17)	2.07	(1.98)	6.49
PRCGX	0.93	(0.16)	(0.06)	0.02	1.73	(1.05)	2.07	(2.05)	11.06
KSCOX	1.31	0.50	0.28	0.60	1.17	(1.50)	3.29	(2.03)	13.94

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