Oberweis Micro-cap Correlations

Mutual Funds . USA . 
Fund . Oberweis Micro Cap Fund
OMCIX Fund  USD 48.41  0.53  1.11%   
The current 90-days correlation between Oberweis Micro Cap and Oberweis China Opportunities is 0.19 (i.e., Average diversification). The correlation of Oberweis Micro-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 Micro-cap Correlation With Market

Very weak diversification

The correlation between Oberweis Micro Cap Fund 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 Micro Cap Fund 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 Micro Cap Fund. 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

  0.88OBEGX Oberweis Emerging GrowthPairCorr
  1.0OBMCX Oberweis Micro CapPairCorr
  0.81OBSIX Oberweis Small CapPairCorr
  0.82OBSOX Oberweis Small CapPairCorr
  0.86VSGAX Vanguard Small CapPairCorr
  0.86VSGIX Vanguard Small CapPairCorr
  0.86VISGX Vanguard Small CapPairCorr
  0.89VEXPX Vanguard ExplorerPairCorr
  0.89VEXRX Vanguard ExplorerPairCorr
  0.8JGMIX Janus TritonPairCorr
  0.8JGMRX Janus TritonPairCorr
  0.8JGMAX Janus TritonPairCorr
  0.79JGMCX Janus TritonPairCorr
  0.81JGMNX Janus TritonPairCorr
  0.62SMPSX Semiconductor Ultrasector Steady GrowthPairCorr
  0.71KNPYX Kinetics ParadigmPairCorr
  0.72LSHUX Horizon Spin Off Steady GrowthPairCorr
  0.71WWNPX Kinetics Paradigm Steady GrowthPairCorr
  0.72LSHEX Kinetics Spin Off Steady GrowthPairCorr
  0.72LSHAX Horizon Spin Off Steady GrowthPairCorr
  0.71KNPAX Kinetics Paradigm Steady GrowthPairCorr
  0.72KNPCX Kinetics ParadigmPairCorr
  0.73LSHCX Horizon Spin Off Steady GrowthPairCorr
  0.91PRCGX Perritt Microcap OppPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Oberweis Mutual Fund performing well and Oberweis Micro-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 Micro-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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
OBCHX  1.14 (0.04) 0.00 (0.06) 0.00 
 0.00 
 2.55 
(2.45)
 9.99 
OBEGX  1.05 (0.07) 0.00 (0.07) 0.00 
 0.00 
 2.05 
(2.67)
 6.09 
OBGIX  1.05  0.02  0.00 (0.10) 1.72 
(0.88)
 2.03 
(2.54)
 6.11 
OBIOX  0.68  0.01  0.00  0.05  0.87 
(0.70)
 1.52 
(1.50)
 3.81 
OBMCX  1.13 (0.11) 0.00 (0.10) 0.00 
 0.00 
 2.11 
(3.34)
 6.55 
OBSIX  1.01 (0.04) 0.00 (0.03) 0.00 
 0.00 
 1.64 
(2.33)
 5.16 
OBSOX  1.01 (0.04) 0.00 (0.03) 0.00 
 0.00 
 1.64 
(2.38)
 5.18 
OCHIX  1.17 (0.07) 0.00 (0.15) 0.00 
 0.00 
 2.51 
(3.12)
 10.10 
OFIGX  0.63  0.08  0.07  0.24  0.77 
(0.70)
 1.33 
(1.32)
 4.04 
OMCIX  1.15 (0.08) 0.00 (0.06) 0.00 
 0.00 
 2.10 
(3.33)
 6.49 

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