Oberweis Small Correlations

OBSIX Fund

USD 27.97 0.22 0.79%

The current 90-days correlation between Oberweis Small Cap and Oberweis China Opportunities is 0.23 (i.e., Modest diversification). The correlation of Oberweis Small 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 Small Correlation With Market

Very poor diversification

The correlation between Oberweis Small Cap Opportuniti 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 Small Cap Opportuniti 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 Small Cap 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

0.94	OBEGX	Oberweis Emerging Growth	Pair Corr
0.94	OBGIX	Oberweis Emerging Growth	Pair Corr
0.85	OBMCX	Oberweis Micro Cap	Pair Corr
1.0	OBSOX	Oberweis Small Cap	Pair Corr
0.85	OMCIX	Oberweis Micro Cap	Pair Corr
0.8	VSGAX	Vanguard Small Cap	Pair Corr
0.8	VSGIX	Vanguard Small Cap	Pair Corr
0.8	VISGX	Vanguard Small Cap	Pair Corr
0.87	VEXPX	Vanguard Explorer	Pair Corr
0.87	VEXRX	Vanguard Explorer	Pair Corr
0.84	JGMIX	Janus Triton	Pair Corr
0.84	JGMRX	Janus Triton	Pair Corr
0.84	JGMAX	Janus Triton	Pair Corr
0.85	JGMCX	Janus Triton	Pair Corr
0.84	JGMNX	Janus Triton	Pair Corr
0.86	LGWIX	Ladenburg Growth	Pair Corr
0.69	FIKAX	Fidelity Advisor Energy	Pair Corr
0.73	WCPSX	Mobile Telecommunicatio	Pair Corr
0.94	VASGX	Vanguard Lifestrategy	Pair Corr
0.7	PFN	Pimco Income Strategy	Pair Corr
0.73	DFMGX	Df Dent Midcap	Pair Corr
0.93	VTWAX	Vanguard Total World	Pair Corr

Moving against Oberweis Mutual Fund

0.42	OBEMX	Oberweis Emerging Markets	Pair Corr
0.42	OIEMX	Oberweis Emerging Markets	Pair Corr
0.55	FMFFX	Fs Managed Futures	Pair Corr

Related Correlations Analysis

	OBCHX	OBEGX	OBGIX	OBIIX	OBIOX	OBMCX	OBSOX	OCHIX	OFIGX
OBCHX		0.52	0.52	0.27	0.26	0.26	0.49	1.0	0.39	OBCHX
OBEGX	0.52		1.0	0.38	0.37	0.72	0.94	0.52	0.49	OBEGX
OBGIX	0.52	1.0		0.37	0.37	0.72	0.94	0.52	0.49	OBGIX
OBIIX	0.27	0.38	0.37		1.0	-0.3	0.18	0.27	0.93	OBIIX
OBIOX	0.26	0.37	0.37	1.0		-0.31	0.17	0.26	0.93	OBIOX
OBMCX	0.26	0.72	0.72	-0.3	-0.31		0.84	0.26	-0.18	OBMCX
OBSOX	0.49	0.94	0.94	0.18	0.17	0.84		0.49	0.28	OBSOX
OCHIX	1.0	0.52	0.52	0.27	0.26	0.26	0.49		0.38	OCHIX
OFIGX	0.39	0.49	0.49	0.93	0.93	-0.18	0.28	0.38		OFIGX
	OBCHX	OBEGX	OBGIX	OBIIX	OBIOX	OBMCX	OBSOX	OCHIX	OFIGX

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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

OCHIX	+ 1.0	OBCHX
OBGIX	+ 1.0	OBEGX
OBIOX	+ 1.0	OBIIX
OBSOX	+ 0.94	OBEGX
OBSOX	+ 0.94	OBGIX
OFIGX	+ 0.93	OBIIX

High negative correlations

OBMCX	- 0.31	OBIOX
OBMCX	- 0.3	OBIIX
OFIGX	- 0.18	OBMCX

Risk-Adjusted Indicators

There is a big difference between Oberweis Mutual Fund performing well and Oberweis Small 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 Small'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
OBIIX	0.64	(0.08)	0.00	(0.07)	0.00	0.00	1.61	(1.36)	3.72
OBIOX	0.64	(0.09)	0.00	(0.07)	0.00	0.00	1.57	(1.43)	3.74
OBMCX	1.08	0.01	0.05	0.13	1.15	(1.16)	2.40	(2.01)	6.14
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
OFIGX	0.67	(0.10)	0.00	(0.07)	0.00	0.00	1.54	(1.51)	4.57

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