Oberweis Micro Cap Fund Market Value
| OMCIX Fund | USD 37.82 0.02 0.05% |
| Symbol | Oberweis |
Oberweis Micro-cap 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Oberweis Micro-cap's mutual fund what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Oberweis Micro-cap.
| 03/26/2024 |
| 04/25/2024 |
If you would invest 0.00 in Oberweis Micro-cap on March 26, 2024 and sell it all today you would earn a total of 0.00 from holding Oberweis Micro Cap Fund or generate 0.0% return on investment in Oberweis Micro-cap over 30 days. Oberweis Micro-cap is related to or competes with Fidelity Advisor, HUMANA, Morningstar Unconstrained, High Yield, Thrivent High, Via Renewables, and T Rowe. The fund invests, under normal circumstances, at least 80 percent of its net assets in the securities of very small comp... More
Oberweis Micro-cap Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Oberweis Micro-cap's mutual fund current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Oberweis Micro Cap Fund upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.39 | |||
| Information Ratio | (0.03) | |||
| Maximum Drawdown | 6.13 | |||
| Value At Risk | (2.41) | |||
| Potential Upside | 2.18 |
Oberweis Micro-cap Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Oberweis Micro-cap's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Oberweis Micro-cap's standard deviation. In reality, there are many statistical measures that can use Oberweis Micro-cap historical prices to predict the future Oberweis Micro-cap's volatility.| Risk Adjusted Performance | 0.0321 | |||
| Jensen Alpha | (0.1) | |||
| Total Risk Alpha | (0.14) | |||
| Sortino Ratio | (0.03) | |||
| Treynor Ratio | 0.0286 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Oberweis Micro-cap's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Oberweis Micro Cap Backtested Returns
We consider Oberweis Micro-cap very steady. Oberweis Micro Cap maintains Sharpe Ratio (i.e., Efficiency) of 0.0262, which implies the entity had a 0.0262% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Oberweis Micro Cap, which you can use to evaluate the volatility of the fund. Please check Oberweis Micro-cap's Coefficient Of Variation of 2349.49, risk adjusted performance of 0.0321, and Semi Deviation of 1.32 to confirm if the risk estimate we provide is consistent with the expected return of 0.0368%. The fund holds a Beta of 1.74, which implies a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Oberweis Micro-cap will likely underperform.
Auto-correlation | 0.10 |
Insignificant predictability
Oberweis Micro Cap Fund has insignificant predictability. Overlapping area represents the amount of predictability between Oberweis Micro-cap time series from 26th of March 2024 to 10th of April 2024 and 10th of April 2024 to 25th of April 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Oberweis Micro Cap price movement. The serial correlation of 0.1 indicates that less than 10.0% of current Oberweis Micro-cap price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.1 | |
| Spearman Rank Test | 0.37 | |
| Residual Average | 0.0 | |
| Price Variance | 0.49 |
Oberweis Micro Cap lagged returns against current returns
Autocorrelation, which is Oberweis Micro-cap mutual fund's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Oberweis Micro-cap's mutual fund expected returns. We can calculate the autocorrelation of Oberweis Micro-cap returns to help us make a trade decision. For example, suppose you find that Oberweis Micro-cap has exhibited high autocorrelation historically, and you observe that the mutual fund is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Oberweis Micro-cap regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Oberweis Micro-cap mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Oberweis Micro-cap mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Oberweis Micro-cap mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Oberweis Micro-cap Lagged Returns
When evaluating Oberweis Micro-cap's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Oberweis Micro-cap mutual fund have on its future price. Oberweis Micro-cap autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Oberweis Micro-cap autocorrelation shows the relationship between Oberweis Micro-cap mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Oberweis Micro Cap Fund.
Regressed Prices |
| Timeline |
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Oberweis Micro-cap technical mutual fund analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, fund market cycles, or different charting patterns.