Oberweis Emerging Correlations

OBGIX Fund

USD 25.04 1.61 6.04%

The current 90-days correlation between Oberweis Emerging Growth and Putnam Convertible Securities is 0.92 (i.e., Almost no 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 0.73 (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 gross domestic product.

Moving together with Oberweis Mutual Fund

0.7	OBEGX	Oberweis Emerging Growth	Pair Corr
0.74	OBMCX	Oberweis Micro Cap	Pair Corr
0.97	OBSIX	Oberweis Small Cap	Pair Corr
0.97	OBSOX	Oberweis Small Cap	Pair Corr
0.99	OMCIX	Oberweis Micro Cap	Pair Corr
0.65	FSWFX	American Funds Smallcap	Pair Corr
0.97	FSFWX	American Funds Smallcap	Pair Corr
0.65	SCWCX	American Fds Smallcap	Pair Corr
0.97	SCWFX	Smallcap World	Pair Corr
0.65	SMCWX	Smallcap World	Pair Corr
0.97	CSPFX	Smallcap World	Pair Corr
0.97	CSPAX	Smallcap World	Pair Corr
0.97	CSPEX	Smallcap World	Pair Corr
0.65	RSLCX	Smallcap World	Pair Corr
0.65	RLLGX	Smallcap World	Pair Corr

Moving against Oberweis Mutual Fund

0.6	OCHIX	Oberweis China Oppor	Pair Corr
0.55	OFIGX	Oberweis Funds	Pair Corr
0.83	VFIJX	Vanguard Gnma	Pair Corr
0.82	RRFIX	Federated Real Return	Pair Corr
0.82	VBTIX	Vanguard Total Bond	Pair Corr
0.71	DBLSX	Doubleline Low Duration	Pair Corr
0.65	XNCVX	Allianzgi Convertible	Pair Corr
0.61	HWDCX	Hartford World	Pair Corr
0.52	SRMAX	Deutsche Short Term	Pair Corr
0.39	XGNTX	Gamco Natural Resources	Pair Corr
0.33	TROSX	T Rowe Price	Pair Corr
0.94	BRPIX	Bear Profund Bear Steady Growth	Pair Corr
0.82	BAISX	Brown Advisory Susta	Pair Corr

Related Correlations Analysis

	PCNTX	CCD	VAADX	XAVKX	NCIDX
PCNTX		0.94	0.99	0.94	0.98	PCNTX
CCD	0.94		0.93	0.92	0.91	CCD
VAADX	0.99	0.93		0.91	0.98	VAADX
XAVKX	0.94	0.92	0.91		0.95	XAVKX
NCIDX	0.98	0.91	0.98	0.95		NCIDX
	PCNTX	CCD	VAADX	XAVKX	NCIDX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
PCNTX	0.72	(0.03)	(0.21)	1.26	(1.94)	4.86
CCD	0.91	(0.22)	(0.46)	1.25	(2.51)	7.13
VAADX	0.65	(0.02)	(0.21)	1.16	(1.61)	4.38
XAVKX	0.67	(0.06)	(0.26)	0.93	(1.41)	5.47
NCIDX	0.66	(0.02)	(0.19)	1.30	(1.43)	4.74

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