Oberweis China Correlations

OBCHX Fund

USD 6.98 0.18 2.65%

The current 90-days correlation between Oberweis China Oppor and Matthews China Fund is 0.9 (i.e., Almost no diversification). The correlation of Oberweis China 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 China Correlation With Market

Average diversification

The correlation between Oberweis China Opportunities and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oberweis China Opportunities 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 China 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 rate.

Moving together with Oberweis Mutual Fund

1.0	OCHIX	Oberweis China Oppor	Pair Corr
0.97	FHKTX	Fidelity China Region	Pair Corr
0.97	FCHKX	Fidelity China Region	Pair Corr
0.97	FHKAX	Fidelity China Region	Pair Corr
0.97	FHKIX	Fidelity China Region	Pair Corr
0.93	FIQFX	Fidelity China Region	Pair Corr
0.97	FHKCX	Fidelity China Region	Pair Corr
0.96	MICFX	Matthews China	Pair Corr
0.96	MCHFX	Matthews China	Pair Corr
0.61	LETRX	Voya Russia Fund	Pair Corr

Related Correlations Analysis

	MCHFX	PRLAX	MINDX	ICHKX	LETRX
MCHFX		-0.31	-0.41	0.99	0.75	MCHFX
PRLAX	-0.31		0.86	-0.25	-0.6	PRLAX
MINDX	-0.41	0.86		-0.35	-0.69	MINDX
ICHKX	0.99	-0.25	-0.35		0.7	ICHKX
LETRX	0.75	-0.6	-0.69	0.7		LETRX
	MCHFX	PRLAX	MINDX	ICHKX	LETRX

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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

ICHKX	+ 0.99	MCHFX
MINDX	+ 0.86	PRLAX
LETRX	+ 0.75	MCHFX
LETRX	+ 0.7	ICHKX

High negative correlations

LETRX	- 0.69	MINDX
LETRX	- 0.6	PRLAX
MINDX	- 0.41	MCHFX
ICHKX	- 0.35	MINDX
PRLAX	- 0.31	MCHFX
ICHKX	- 0.25	PRLAX

Risk-Adjusted Indicators

There is a big difference between Oberweis Mutual Fund performing well and Oberweis China 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 China'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
MCHFX	2.04	0.29	0.08	1.38	2.31	(2.64)	5.67	(3.22)	19.23
PRLAX	0.73	(0.16)	0.00	(0.30)	0.00	0.00	1.13	(1.76)	4.06
MINDX	0.71	(0.12)	0.00	(0.12)	0.00	0.00	1.42	(1.64)	4.83
ICHKX	1.58	0.17	0.03	1.56	1.84	(1.76)	5.18	(2.84)	13.31
LETRX	3.45	1.66	0.23	(0.81)	1.47	(14.10)	2.86	(2.94)	110.98

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