OBERWEIS SMALL-CAP Correlations

The correlation of OBERWEIS SMALL-CAP is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as OBERWEIS SMALL-CAP moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if OBERWEIS SMALL-CAP OPPORTUNITIES moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
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The ability to find closely correlated positions to OBERWEIS SMALL-CAP could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace OBERWEIS SMALL-CAP when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back OBERWEIS SMALL-CAP - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling OBERWEIS SMALL-CAP OPPORTUNITIES to buy it.

Moving together with OBERWEIS SMALL-CAP

+0.73VEXRXVANGUARD EXPLORER FUNDPairCorr
+0.73VEXPXVANGUARD EXPLORER FUNDPairCorr
+0.75JGMAXJANUS TRITON FUNDPairCorr
+0.76JGMNXJANUS TRITON FUNDPairCorr
+0.73OTCFXT ROWE PRICEPairCorr
+0.84NBGAXNEUBERGER BERMAN GENESISPairCorr
+0.84NBGEXNEUBERGER BERMAN GENESISPairCorr
+0.76VSTSXVANGUARD TOTAL STOCKPairCorr
+0.76VTSAXVANGUARD TOTAL STOCKPairCorr
+0.76VSMPXVANGUARD TOTAL STOCKPairCorr
+0.76VTSMXVANGUARD TOTAL STOCKPairCorr
+0.76VITSXVANGUARD TOTAL STOCKPairCorr
+0.76VFINXVANGUARD 500 INDEX Low VolatilityPairCorr
+0.76VFFSXVANGUARD 500 INDEX Low VolatilityPairCorr
+0.77VFIAXVANGUARD 500 INDEX Low VolatilityPairCorr
+0.78VTSNXVANGUARD TOTAL INTERPairCorr
+0.78VTISXVANGUARD TOTAL INTERPairCorr

Related Correlations

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Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether 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   
JPMT
JPMA
XOMMRK
MRKJPM
XOMJPM
AT
  
High negative correlations   
MRKUBER
XOMMSFT
MRKMSFT
CRMTWTR
XOMUBER

OBERWEIS SMALL-CAP Competition Risk-Adjusted Indicators

Nowadays, there is a big difference between OBERWEIS Mutual Fund performing well and OBERWEIS SMALL-CAP Mutual Fund doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze OBERWEIS SMALL-CAP's multiple risk-adjusted performance indicators. 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
Information
Ratio
Expected
Shortfall
Potential
Upside
Value
At Risk
Maximum
Drawdown
TWTR 1.73  0.51  0.17 (2.71)  1.73  0.12 (1.84)  3.56 (2.97)  27.10 
MSFT 1.79 (0.14)  0.00 (0.01)  0.00 (0.0424)  0.00  3.92 (3.54)  11.64 
UBER 2.84 (0.08) (0.01)  0.04  3.25 (0.0084) (3.42)  8.60 (5.58)  19.67 
F 1.96 (0.22)  0.00 (0.05)  0.00 (0.06)  0.00  2.75 (5.14)  14.93 
T 1.27  0.08  0.04  0.21  1.18  0.0334 (1.46)  2.54 (2.11)  9.29 
A 1.72  0.19  0.12  0.24  1.64  0.1 (2.08)  3.98 (2.97)  11.04 
CRM 2.32 (0.22)  0.00 (0.06)  0.00 (0.06)  0.00  4.31 (4.48)  18.29 
JPM 1.51  0.18  0.12  0.26  1.30  0.1 (1.64)  4.20 (2.15)  7.57 
MRK 1.00  0.37  0.24  1.28  0.80  0.23 (1.20)  2.44 (1.43)  7.38 
XOM 1.58  0.15  0.07  0.26  1.77  0.07 (1.68)  3.65 (2.91)  9.75 

OBERWEIS SMALL-CAP Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with OBERWEIS SMALL-CAP mutual fund to make a market-neutral strategy. Peer analysis of OBERWEIS SMALL-CAP could also be used in its relative valuation, which is a method of valuing OBERWEIS SMALL-CAP by comparing valuation metrics with similar companies.
AMN Healthcare ServicesTwist Bioscience CorpFreedom Holding CorpGlobal X NASDAQFRANKLIN MUTUAL EUROPEANBHP Group LimitedNatural Health TrendIShares MSCI USABetaPro Canadian GoldAramark HoldingsVanguard Long-TermSeagate Technology PLCVistra Energy CorpExxon Mobil CorpPowered Brands
 Risk & Return  Correlation

Invested in OBERWEIS SMALL-CAP OPPORTUNITIES?

The danger of trading OBERWEIS SMALL-CAP OPPORTUNITIES is mainly related to its market volatility and Mutual Fund specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of OBERWEIS SMALL-CAP is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than OBERWEIS SMALL-CAP. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile OBERWEIS SMALL-CAP is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Please check Your Equity Center. You can also try Bond Directory module to find actively traded corporate debentures issued by US companies.

Complementary Tools for analysis

When running OBERWEIS SMALL-CAP price analysis, check to measure OBERWEIS SMALL-CAP's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy OBERWEIS SMALL-CAP is operating at the current time. Most of OBERWEIS SMALL-CAP's value examination focuses on studying past and present price action to predict the probability of OBERWEIS SMALL-CAP's future price movements. You can analyze the entity against its peers and financial market as a whole to determine factors that move OBERWEIS SMALL-CAP's price. Additionally, you may evaluate how the addition of OBERWEIS SMALL-CAP to your portfolios can decrease your overall portfolio volatility.
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Please note, there is a significant difference between OBERWEIS SMALL-CAP's value and its price as these two are different measures arrived at by different means. Investors typically determine OBERWEIS SMALL-CAP value by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, OBERWEIS SMALL-CAP's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.