Oberweis China Correlations

OBCHX Fund

USD 7.94 0.19 2.34%

The current 90-days correlation between Oberweis China Oppor and Matthews China Fund is 0.29 (i.e., Modest diversification). The correlation of Oberweis China 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 China Correlation With Market

Modest diversification

The correlation between Oberweis China Opportunities and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Oberweis China Opportunities 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 China 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 rate.

Moving together with Oberweis Mutual Fund

0.96	FHKTX	Fidelity China Region	Pair Corr
0.96	FCHKX	Fidelity China Region	Pair Corr
0.96	FHKAX	Fidelity China Region	Pair Corr
0.96	FHKIX	Fidelity China Region	Pair Corr
0.96	FIQFX	Fidelity China Region	Pair Corr
0.96	FHKCX	Fidelity China Region	Pair Corr
0.93	MICFX	Matthews China	Pair Corr
0.79	MCHFX	Matthews China	Pair Corr
0.9	AMANX	Amana Income	Pair Corr
0.83	FEBRX	First Eagle Global	Pair Corr
0.78	GLOIX	Gamco Global Opportunity	Pair Corr
0.81	HRITX	Manager Directed Por	Pair Corr
0.87	CPEIX	Catalyst Dynamic Alpha	Pair Corr
0.82	XGNTX	Gamco Natural Resources	Pair Corr
0.75	LDLAX	Lord Abbett Short	Pair Corr
0.91	GSHSX	Goldman Sachs High	Pair Corr
0.85	VESIX	Vanguard European Stock	Pair Corr
0.85	PFPPX	Midcap Growth	Pair Corr
0.85	GLBLX	Leuthold Global	Pair Corr
0.85	GICPX	Gamco Global Growth	Pair Corr
0.83	PAGRX	Aggressive Growth	Pair Corr
0.88	DIERX	Dreyfus International	Pair Corr
0.91	SEMTX	Hartford Schroders	Pair Corr
0.89	SAEMX	Sa Emerging Markets	Pair Corr
0.9	EMDIX	Federated Emerging Market	Pair Corr
0.79	SLARX	Deutsche Latin America	Pair Corr
0.89	CWIAX	Capital World Growth	Pair Corr
0.85	RSIRX	Victory Rs International	Pair Corr
0.81	BISRX	Brandes International	Pair Corr
0.87	JCRCX	Alpscorecommodity	Pair Corr

Moving against Oberweis Mutual Fund

0.37	PQTAX	Pimco Trends Managed	Pair Corr
0.36	PQTNX	Pimco Trends Managed	Pair Corr
0.36	PQTIX	Aa Pimco Tr	Pair Corr

Related Correlations Analysis

	MCHFX	PRLAX	MINDX	ICHKX	LETRX
MCHFX		0.5	0.31	0.77	0.0	MCHFX
PRLAX	0.5		0.89	0.74	0.0	PRLAX
MINDX	0.31	0.89		0.6	0.0	MINDX
ICHKX	0.77	0.74	0.6		0.0	ICHKX
LETRX	0.0	0.0	0.0	0.0		LETRX
	MCHFX	PRLAX	MINDX	ICHKX	LETRX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

MINDX	+ 0.89	PRLAX
ICHKX	+ 0.77	MCHFX
ICHKX	+ 0.74	PRLAX
ICHKX	+ 0.6	MINDX
PRLAX	+ 0.5	MCHFX
MINDX	+ 0.31	MCHFX

High negative correlations

LETRX	- 0.0	ICHKX
LETRX	- 0.0	MINDX
LETRX	- 0.0	PRLAX
LETRX	- 0.0	MCHFX

Risk-Adjusted Indicators

There is a big difference between Oberweis Mutual Fund performing well and Oberweis China 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 China'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
MCHFX	1.23	(0.15)	0.00	(0.18)	0.00	0.00	2.70	(2.21)	9.38
PRLAX	0.98	0.14	0.07	1.69	1.38	(1.11)	2.08	(1.49)	9.45
MINDX	0.89	0.05	0.02	(0.35)	1.13	(0.90)	2.16	(2.10)	5.49
ICHKX	0.95	(0.04)	0.00	(0.09)	0.00	0.00	2.18	(1.65)	8.84
LETRX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC