Oberweis Micro-cap Correlations

OMCIX Fund

USD 43.16 1.15 2.74%

The current 90-days correlation between Oberweis Micro Cap and Pgim Conservative Retirement is -0.13 (i.e., Good diversification). The correlation of Oberweis Micro-cap 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-cap Correlation With Market

Poor diversification

The correlation between Oberweis Micro Cap Fund and DJI is 0.62 (i.e., 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 gross domestic product.

Moving together with Oberweis Mutual Fund

0.98	OBEGX	Oberweis Emerging Growth	Pair Corr
1.0	OBMCX	Oberweis Micro Cap	Pair Corr
0.96	OBSOX	Oberweis Small Cap	Pair Corr
0.97	VSGAX	Vanguard Small Cap	Pair Corr
0.97	VSGIX	Vanguard Small Cap	Pair Corr
0.97	VISGX	Vanguard Small Cap	Pair Corr
0.95	VEXPX	Vanguard Explorer	Pair Corr
0.94	VEXRX	Vanguard Explorer	Pair Corr
0.93	JGMIX	Janus Triton	Pair Corr
0.93	JGMRX	Janus Triton	Pair Corr
0.93	JGMAX	Janus Triton	Pair Corr
0.93	JGMCX	Janus Triton	Pair Corr
0.87	JGMNX	Janus Triton	Pair Corr
0.82	VSTSX	Vanguard Total Stock	Pair Corr
0.82	VSMPX	Vanguard Total Stock	Pair Corr
0.9	VITSX	Vanguard Total Stock	Pair Corr
0.79	VFFSX	Vanguard 500 Index	Pair Corr
0.88	VFIAX	Vanguard 500 Index	Pair Corr
0.9	VINIX	Vanguard Institutional	Pair Corr
0.9	VTSAX	Vanguard Total Stock	Pair Corr

Moving against Oberweis Mutual Fund

0.7	OBCHX	Oberweis China Oppor	Pair Corr
0.63	VTISX	Vanguard Total Inter	Pair Corr
0.63	VTSNX	Vanguard Total Inter	Pair Corr
0.59	VTPSX	Vanguard Total Inter	Pair Corr
0.55	OBIIX	Oberweis International	Pair Corr
0.55	OBIOX	Oberweis International	Pair Corr
0.83	GF	New Germany Closed	Pair Corr
0.78	USGDX	Morgan Stanley Government	Pair Corr
0.78	PSDNX	Putnam Ultra Short	Pair Corr
0.76	BISMX	Brandes International	Pair Corr
0.76	ABNOX	Ab Bond Inflation	Pair Corr
0.76	HRBDX	Harbor Bond Fund	Pair Corr
0.73	ARBOX	Absolute Convertible	Pair Corr
0.72	EMBAX	Unconstrained Emerging	Pair Corr
0.72	VICSX	Vanguard Intermediate-ter	Pair Corr
0.67	GIOIX	Guggenheim Macro Opp	Pair Corr
0.62	DLDFX	Destinations Low Duration	Pair Corr
0.57	SAEMX	Sa Emerging Markets	Pair Corr
0.55	UTF	Cohen And Steers	Pair Corr
0.48	HTD	John Hancock Tax	Pair Corr
0.47	SGDLX	Sprott Gold Equity	Pair Corr
0.4	DBIWX	Dws Global Macro	Pair Corr

Related Correlations Analysis

	PGFCX	JLAEX	FHRVX	FLMTX	SXMAX	JLMOX	MURFX	RRPPX
PGFCX		0.91	0.97	0.89	0.69	0.89	0.74	0.9	PGFCX
JLAEX	0.91		0.93	0.94	0.69	0.95	0.67	0.99	JLAEX
FHRVX	0.97	0.93		0.86	0.66	0.88	0.68	0.93	FHRVX
FLMTX	0.89	0.94	0.86		0.72	0.99	0.74	0.94	FLMTX
SXMAX	0.69	0.69	0.66	0.72		0.74	0.89	0.66	SXMAX
JLMOX	0.89	0.95	0.88	0.99	0.74		0.77	0.94	JLMOX
MURFX	0.74	0.67	0.68	0.74	0.89	0.77		0.62	MURFX
RRPPX	0.9	0.99	0.93	0.94	0.66	0.94	0.62		RRPPX
	PGFCX	JLAEX	FHRVX	FLMTX	SXMAX	JLMOX	MURFX	RRPPX

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Risk-Adjusted Indicators

There is a big difference between Oberweis Mutual Fund performing well and Oberweis Micro-cap 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-cap'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
PGFCX	0.29	(0.01)	0.06	0.08	0.39	(0.35)	0.67	(0.48)	1.75
JLAEX	0.24	0.01	0.10	0.02	0.29	(0.29)	0.52	(0.52)	1.32
FHRVX	0.29	0.00	0.09	(0.01)	0.38	(0.30)	0.56	(0.61)	1.71
FLMTX	0.31	0.00	0.06	(0.02)	0.43	(0.31)	0.57	(0.66)	1.72
SXMAX	0.53	(0.08)	0.00	(0.24)	0.00	0.00	0.76	(0.96)	8.55
JLMOX	0.33	0.00	0.06	(0.02)	0.43	(0.37)	0.64	(0.63)	1.75
MURFX	0.32	(0.04)	0.00	(0.24)	0.00	0.00	0.58	(0.57)	2.82
RRPPX	0.36	0.03	0.09	0.04	0.45	(0.41)	0.63	(0.69)	1.82

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