Oberweis Small Correlations

Mutual Funds . USA . 
Fund . Oberweis Small Cap Opportunities
OBSOX Fund  USD 27.38  0.37  1.37%   
The current 90-days correlation between Oberweis Small Cap and Oberweis Micro Cap Fund is 0.15 (i.e., Average diversification). The correlation of Oberweis Small 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 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 persons.

Moving together with Oberweis Mutual Fund

  0.94OBEGX Oberweis Emerging GrowthPairCorr
  0.86OBGIX Oberweis Emerging GrowthPairCorr
  0.78OBMCX Oberweis Micro CapPairCorr
  0.88OBSIX Oberweis Small CapPairCorr
  0.78OMCIX Oberweis Micro CapPairCorr
  0.78VSGAX Vanguard Small CapPairCorr
  0.78VSGIX Vanguard Small CapPairCorr
  0.78VISGX Vanguard Small CapPairCorr
  0.87VEXPX Vanguard ExplorerPairCorr
  0.87VEXRX Vanguard ExplorerPairCorr
  0.84JGMIX Janus TritonPairCorr
  0.84JGMRX Janus TritonPairCorr
  0.84JGMAX Janus TritonPairCorr
  0.84JGMCX Janus TritonPairCorr
  0.83JGMNX Janus TritonPairCorr
  0.75RGAGX Growth FundPairCorr
  0.73AMDVX Mid Cap ValuePairCorr
  0.81JDCAX Janus Forty FundPairCorr
  0.9CSDGX Copeland Smid CapPairCorr
  0.89TIGGX Goldman Sachs TaxPairCorr
  0.81MSVVX Mesirow Financial SmallPairCorr

Moving against Oberweis Mutual Fund

  0.34FMFFX Fs Managed FuturesPairCorr

Related Correlations Analysis

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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   
KSCOX
+ 0.9
OBMCX
NEAGX
+ 0.7
OBMCX
NEAGX
+ 0.7
OBEGX
OBEGX
+ 0.61
OBMCX
OBIOX
+ 0.44
OBEGX
KSCOX
+ 0.38
OBEGX
  
High negative correlations   
KSCOX
- 0.57
OBIOX
OBIOX
- 0.28
OBMCX

Risk-Adjusted Indicators

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

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