Oberweis Emerging Correlations

Mutual Funds . USA . 
Fund . Oberweis Emerging Growth
OBEGX Fund  USD 31.07  0.09  0.29%   
The current 90-days correlation between Oberweis Emerging Growth and Oberweis Micro Cap Fund is 0.88 (i.e., Very poor diversification). The correlation of Oberweis Emerging 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 Emerging Correlation With Market

Poor diversification

The correlation between Oberweis Emerging Growth and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oberweis Emerging Growth 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 Emerging Growth. 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 price.

Moving together with Oberweis Mutual Fund

  1.0OBGIX Oberweis Emerging GrowthPairCorr
  0.7OBMCX Oberweis Micro CapPairCorr
  0.94OBSIX Oberweis Small CapPairCorr
  0.94OBSOX Oberweis Small CapPairCorr
  0.7OMCIX Oberweis Micro CapPairCorr
  0.94FSWFX American Funds SmallcapPairCorr
  0.94FSFWX American Funds SmallcapPairCorr
  0.95SCWCX American Fds SmallcapPairCorr
  0.94SCWFX Smallcap WorldPairCorr
  0.81SMCWX Smallcap WorldPairCorr
  0.94CSPFX Smallcap WorldPairCorr
  0.94CSPAX Smallcap WorldPairCorr
  0.94CSPEX Smallcap WorldPairCorr
  0.94RSLCX Smallcap WorldPairCorr
  0.81RLLGX Smallcap WorldPairCorr
  0.86FTYPX Fidelity Freedom IndexPairCorr
  0.87FFBTX Fidelity Freedom BlendPairCorr
  0.61GCAVX Gmo Small CapPairCorr
  0.86GQLOX Gmo Quality FundPairCorr
  0.63BPIRX Boston Partners LongshortPairCorr
  0.75PCWPX Strategic Asset ManaPairCorr
  0.8TAIAX American Funds TaxPairCorr
  0.77AMTOX Ab All MarketPairCorr
  0.63AMEIX Equity GrowthPairCorr

Moving against Oberweis Mutual Fund

  0.31GABFX Gmo Asset AllocationPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
HRTVX
+ 0.96
OBMCX
OBSOX
+ 0.84
OBMCX
HRTVX
+ 0.74
OBSOX
OBCHX
+ 0.51
OBSOX
OBCHX
+ 0.31
OBMCX
OBCHX
+ 0.24
OBIOX
  
High negative correlations   
HRTVX
- 0.41
OBIOX
OBIOX
- 0.29
OBMCX

Risk-Adjusted Indicators

There is a big difference between Oberweis Mutual Fund performing well and Oberweis Emerging 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 Emerging'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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY