Oberweis Small-cap Correlations

OBSIX Fund

USD 27.75 0.13 0.47%

The current 90-days correlation between Oberweis Small Cap and Ab Global Risk is 0.18 (i.e., Average diversification). The correlation of Oberweis Small-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 Small-cap Correlation With Market

Very poor diversification

The correlation between Oberweis Small Cap Opportuniti and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oberweis Small Cap Opportuniti 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 Small Cap 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 gross domestic product.

Moving together with Oberweis Mutual Fund

0.94	OBEGX	Oberweis Emerging Growth	Pair Corr
0.94	OBGIX	Oberweis Emerging Growth	Pair Corr
0.84	OBMCX	Oberweis Micro Cap	Pair Corr
1.0	OBSOX	Oberweis Small Cap	Pair Corr
0.84	OMCIX	Oberweis Micro Cap	Pair Corr
0.79	VSGAX	Vanguard Small Cap	Pair Corr
0.79	VSGIX	Vanguard Small Cap	Pair Corr
0.79	VISGX	Vanguard Small Cap	Pair Corr
0.87	VEXPX	Vanguard Explorer	Pair Corr
0.87	VEXRX	Vanguard Explorer	Pair Corr
0.84	JGMIX	Janus Triton	Pair Corr
0.84	JGMRX	Janus Triton	Pair Corr
0.84	JGMAX	Janus Triton	Pair Corr
0.84	JGMCX	Janus Triton	Pair Corr
0.84	JGMNX	Janus Triton	Pair Corr
0.74	ASG	Liberty All Star	Pair Corr
0.86	CII	Blackrock Enhanced	Pair Corr
0.71	ETV	Eaton Vance Tax	Pair Corr
0.81	USA	Liberty All Star	Pair Corr
0.78	ETY	Eaton Vance Tax	Pair Corr
0.79	NFJ	Virtus Dividend Interest	Pair Corr
0.82	VLISX	Vanguard Large Cap	Pair Corr
0.91	RSGGX	Victory Rs Global	Pair Corr
0.61	ENPSX	Oil Gas Ultrasector Potential Growth	Pair Corr
0.81	FLACX	Fidelity Stock Selector	Pair Corr
0.76	VFINX	Vanguard 500 Index	Pair Corr
0.93	AALTX	American Funds 2050	Pair Corr

Related Correlations Analysis

	CABIX	BCGDX	MGGNX	MGFZX	EQTYX	MGKAX	WWWEX	USGLX
CABIX		0.72	0.7	0.64	0.46	0.24	-0.11	0.14	CABIX
BCGDX	0.72		0.26	0.79	0.35	0.5	0.08	0.38	BCGDX
MGGNX	0.7	0.26		0.13	0.35	-0.07	-0.15	-0.01	MGGNX
MGFZX	0.64	0.79	0.13		0.21	0.38	0.08	0.42	MGFZX
EQTYX	0.46	0.35	0.35	0.21		0.16	-0.33	-0.05	EQTYX
MGKAX	0.24	0.5	-0.07	0.38	0.16		0.53	0.56	MGKAX
WWWEX	-0.11	0.08	-0.15	0.08	-0.33	0.53		0.88	WWWEX
USGLX	0.14	0.38	-0.01	0.42	-0.05	0.56	0.88		USGLX
	CABIX	BCGDX	MGGNX	MGFZX	EQTYX	MGKAX	WWWEX	USGLX

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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

USGLX	+ 0.88	WWWEX
MGFZX	+ 0.79	BCGDX
BCGDX	+ 0.72	CABIX
MGGNX	+ 0.7	CABIX
MGFZX	+ 0.64	CABIX
USGLX	+ 0.56	MGKAX

High negative correlations

WWWEX	- 0.33	EQTYX
WWWEX	- 0.15	MGGNX
WWWEX	- 0.11	CABIX
MGKAX	- 0.07	MGGNX
USGLX	- 0.05	EQTYX
USGLX	- 0.01	MGGNX

Risk-Adjusted Indicators

There is a big difference between Oberweis Mutual Fund performing well and Oberweis Small-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 Small-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
CABIX	0.30	0.00	(0.29)	0.03	0.37	(0.35)	0.57	(0.72)	1.86
BCGDX	0.48	(0.07)	(0.18)	0.00	0.63	(0.49)	0.82	(1.10)	2.50
MGGNX	0.19	0.00	(0.43)	(1.05)	0.18	(0.25)	0.34	(0.34)	1.13
MGFZX	0.74	(0.11)	(0.12)	(0.01)	1.03	(0.72)	1.58	(2.12)	4.78
EQTYX	0.42	0.00	(0.19)	0.09	0.44	(0.62)	1.11	(0.91)	2.53
MGKAX	0.72	(0.08)	(0.12)	0.01	0.89	(0.70)	1.39	(1.20)	3.63
WWWEX	1.04	0.31	0.27	0.42	0.63	(1.25)	3.15	(1.28)	8.01
USGLX	0.58	(0.01)	(0.04)	0.11	0.75	(0.58)	1.25	(1.29)	4.33

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