Oberweis Funds Correlations

OFIGX Fund  USD 9.92  0.04  0.40%   
The correlation of Oberweis Funds 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 Funds Correlation With Market

Very weak diversification

The correlation between Oberweis Funds and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oberweis Funds 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 Funds . 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

  0.93OBIIX Oberweis InternationalPairCorr
  0.93OBIOX Oberweis InternationalPairCorr
  0.85RERFX Europacific GrowthPairCorr
  0.96AEPFX Europacific GrowthPairCorr
  0.96CEUAX Europacific GrowthPairCorr
  0.96CEUCX Europacific GrowthPairCorr
  0.96RERCX Europacific GrowthPairCorr
  0.96REREX Europacific GrowthPairCorr
  0.96RERGX Europacific GrowthPairCorr
  0.96CEUFX Europacific GrowthPairCorr
  0.85CEUEX Europacific GrowthPairCorr
  0.96RERAX Europacific GrowthPairCorr
  0.9VGTSX Vanguard Total InterPairCorr
  0.9VTIAX Vanguard Total InterPairCorr

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   
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VAADXXNCVX
LCFYXXNCVX
AVKXNCVX
LCFYXAVK
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High negative correlations   
GCVCCD
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Risk-Adjusted Indicators

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