Osterweis Emerging Correlations

OSTGX Fund

USD 19.02 0.12 0.63%

The current 90-days correlation between Osterweis Emerging and Gamco Natural Resources is 0.14 (i.e., Average diversification). The correlation of Osterweis 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.

Osterweis Emerging Correlation With Market

Poor diversification

The correlation between Osterweis Emerging Opportunity and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Osterweis Emerging Opportunity 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 Osterweis Emerging Opportunity. 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 Osterweis Mutual Fund

0.89	OSTFX	Osterweis Fund Investor	Pair Corr
0.84	OSTIX	Osterweis Strategic	Pair Corr
0.9	OSTVX	Osterweis Strategic	Pair Corr
0.93	VSGAX	Vanguard Small Cap	Pair Corr
0.93	VSGIX	Vanguard Small Cap	Pair Corr
0.93	VISGX	Vanguard Small Cap	Pair Corr
0.96	VEXPX	Vanguard Explorer	Pair Corr
0.96	VEXRX	Vanguard Explorer	Pair Corr
0.95	JGMIX	Janus Triton	Pair Corr
0.95	JGMRX	Janus Triton	Pair Corr
0.95	JGMAX	Janus Triton	Pair Corr
0.95	JGMCX	Janus Triton	Pair Corr
0.95	JGMNX	Janus Triton	Pair Corr
0.81	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.82	LSHEX	Kinetics Spin Off Steady Growth	Pair Corr
0.82	LSHCX	Horizon Spin Off Steady Growth	Pair Corr
0.81	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.81	KNPCX	Kinetics Paradigm Steady Growth	Pair Corr
0.77	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.77	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.81	LSHAX	Horizon Spin Off Steady Growth	Pair Corr
0.77	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.81	KNPYX	Kinetics Paradigm Steady Growth	Pair Corr
0.72	FFRHX	Fidelity Advisor Floating	Pair Corr
0.94	RTSAX	Tax Managed Mid	Pair Corr
0.91	AMGOX	Alger Mid Cap	Pair Corr
0.95	ASTZX	Astor Long/short	Pair Corr
0.95	PRWAX	T Rowe Price	Pair Corr
0.92	USA	Liberty All Star	Pair Corr
0.63	AMTOX	Ab All Market	Pair Corr
0.75	AMRCX	American Growth	Pair Corr
0.87	FXAIX	Fidelity 500 Index	Pair Corr
0.94	FSKAX	Fidelity Total Market	Pair Corr
0.72	ENPSX	Oil Gas Ultrasector	Pair Corr
0.76	BGRFX	Baron Growth	Pair Corr
0.86	FFALX	Franklin Founding Funds	Pair Corr
0.68	CARYX	Columbia Adaptive Risk	Pair Corr
0.91	AALTX	American Funds 2050	Pair Corr

Related Correlations Analysis

	XGNTX	FRNRX	IGNCX	ALEFX	GAAEX	APWEX	DLDCX
XGNTX		0.42	0.62	-0.2	0.77	0.06	0.36	XGNTX
FRNRX	0.42		0.83	0.62	0.08	0.79	0.9	FRNRX
IGNCX	0.62	0.83		0.51	0.39	0.71	0.93	IGNCX
ALEFX	-0.2	0.62	0.51		-0.52	0.94	0.67	ALEFX
GAAEX	0.77	0.08	0.39	-0.52		-0.32	0.14	GAAEX
APWEX	0.06	0.79	0.71	0.94	-0.32		0.83	APWEX
DLDCX	0.36	0.9	0.93	0.67	0.14	0.83		DLDCX
	XGNTX	FRNRX	IGNCX	ALEFX	GAAEX	APWEX	DLDCX

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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

APWEX	+ 0.94	ALEFX
DLDCX	+ 0.93	IGNCX
DLDCX	+ 0.9	FRNRX
IGNCX	+ 0.83	FRNRX
DLDCX	+ 0.83	APWEX
APWEX	+ 0.79	FRNRX

High negative correlations

GAAEX	- 0.52	ALEFX
APWEX	- 0.32	GAAEX
ALEFX	- 0.2	XGNTX

Risk-Adjusted Indicators

There is a big difference between Osterweis Mutual Fund performing well and Osterweis 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 Osterweis 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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
XGNTX	0.54	(0.04)	0.00	(0.50)	0.00	0.00	1.23	(1.26)	3.30
FRNRX	0.77	0.03	(0.07)	2.44	1.08	(0.77)	1.58	(1.79)	4.33
IGNCX	0.77	(0.07)	(0.09)	0.02	1.11	(0.77)	1.68	(1.58)	4.39
ALEFX	0.65	0.20	0.18	0.63	0.32	(0.84)	1.37	(0.77)	4.42
GAAEX	1.00	(0.13)	0.00	(0.10)	0.00	0.00	1.93	(2.35)	5.59
APWEX	0.89	0.05	0.04	0.17	1.01	(0.96)	1.83	(1.79)	5.85
DLDCX	0.91	(0.07)	(0.07)	0.04	1.30	(0.90)	1.58	(2.05)	4.99

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