Oberweis Emerging Correlations

OBEMX Fund

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The current 90-days correlation between Oberweis Emerging Markets and Oberweis Micro Cap Fund is -0.12 (i.e., Good 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

Good diversification

The correlation between Oberweis Emerging Markets and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oberweis Emerging Markets and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios. 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 population.

Moving together with Oberweis Mutual Fund

0.67	OBIIX	Oberweis International	Pair Corr
0.68	OBIOX	Oberweis International	Pair Corr
1.0	OIEMX	Oberweis Emerging Markets	Pair Corr

Moving against Oberweis Mutual Fund

0.69	OBMCX	Oberweis Micro Cap	Pair Corr
0.69	OMCIX	Oberweis Micro Cap	Pair Corr
0.79	KINCX	Kinetics Internet	Pair Corr
0.78	KMKCX	Kinetics Market Oppo Steady Growth	Pair Corr
0.78	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.78	KNPCX	Kinetics Paradigm Steady Growth	Pair Corr
0.77	KNPAX	Kinetics Paradigm Steady Growth	Pair Corr
0.76	KSCYX	Kinetics Small Cap Steady Growth	Pair Corr
0.76	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.75	KSOCX	Kinetics Small Cap Steady Growth	Pair Corr
0.75	KSCOX	Kinetics Small Cap Steady Growth	Pair Corr
0.65	RTSAX	Tax Managed Mid	Pair Corr
0.59	BDJ	Blackrock Enhanced Equity	Pair Corr
0.58	AMEIX	Equity Growth	Pair Corr
0.56	SDGTX	Deutsche Capital Growth	Pair Corr
0.52	PABVX	Midcap Value	Pair Corr
0.51	ENPSX	Oil Gas Ultrasector Potential Growth	Pair Corr
0.5	VFINX	Vanguard 500 Index	Pair Corr
0.49	PWTAX	Ubs Allocation	Pair Corr
0.47	THLCX	Thrivent Large Cap	Pair Corr

Related Correlations Analysis

	OBMCX	WAINX	DRESX	WAEMX	MSMLX
OBMCX		-0.46	-0.1	-0.33	-0.41	OBMCX
WAINX	-0.46		0.78	0.86	0.79	WAINX
DRESX	-0.1	0.78		0.85	0.81	DRESX
WAEMX	-0.33	0.86	0.85		0.89	WAEMX
MSMLX	-0.41	0.79	0.81	0.89		MSMLX
	OBMCX	WAINX	DRESX	WAEMX	MSMLX

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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

MSMLX	+ 0.89	WAEMX
WAEMX	+ 0.86	WAINX
WAEMX	+ 0.85	DRESX
MSMLX	+ 0.81	DRESX
MSMLX	+ 0.79	WAINX
DRESX	+ 0.78	WAINX

High negative correlations

WAINX	- 0.46	OBMCX
MSMLX	- 0.41	OBMCX
WAEMX	- 0.33	OBMCX
DRESX	- 0.1	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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
OBMCX	1.10	(0.01)	0.04	0.11	1.16	(1.18)	2.40	(2.01)	6.14
WAINX	0.73	(0.06)	(0.12)	(0.01)	0.93	(0.76)	1.48	(1.77)	4.61
DRESX	0.58	(0.10)	0.00	(0.07)	0.00	0.00	1.19	(1.40)	3.26
WAEMX	0.68	(0.12)	0.00	(0.11)	0.00	0.00	1.23	(1.23)	4.11
MSMLX	0.77	(0.15)	0.00	(0.17)	0.00	0.00	1.57	(1.93)	4.52

Oberweis Emerging Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Oberweis Emerging mutual fund to make a market-neutral strategy. Peer analysis of Oberweis Emerging could also be used in its relative valuation, which is a method of valuing Oberweis Emerging by comparing valuation metrics with similar companies.

Oberweis Micro Cap Fund Wasatch Emerging India Driehaus Emerging Markets Wasatch Emerging Markets Matthews Asia Small American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp Home Depot International Business Machines

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