Davenport Balanced Correlations

DBALX Fund

USD 13.28 0.03 0.23%

The current 90-days correlation between Davenport Balanced Income and Fbjygx is -0.13 (i.e., Good diversification). The correlation of Davenport Balanced 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.

Davenport Balanced Correlation With Market

Very weak diversification

The correlation between Davenport Balanced Income and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Davenport Balanced Income and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Davenport Balanced Income. 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 bureau of economic analysis.

Moving together with Davenport Mutual Fund

0.83	FBONX	American Funds American	Pair Corr
0.86	FBAFX	American Funds American	Pair Corr
0.86	ABALX	American Balanced	Pair Corr
0.86	BALCX	American Balanced	Pair Corr
0.86	BALFX	American Balanced	Pair Corr
0.83	RLBCX	American Balanced	Pair Corr
0.86	RLBBX	American Balanced	Pair Corr
0.86	CLBAX	American Balanced	Pair Corr
0.86	CLBEX	American Balanced	Pair Corr
0.83	RLBFX	American Balanced	Pair Corr
0.81	WWNPX	Kinetics Paradigm	Pair Corr
0.81	KNPCX	Kinetics Paradigm	Pair Corr
0.82	KNPAX	Kinetics Paradigm	Pair Corr
0.8	KNPYX	Kinetics Paradigm	Pair Corr
0.66	KMKAX	Kinetics Market Oppo	Pair Corr
0.85	LSHAX	Horizon Spin Off	Pair Corr
0.84	LSHCX	Horizon Spin Off	Pair Corr
0.67	KMKCX	Kinetics Market Oppo	Pair Corr
0.85	LSHUX	Horizon Spin Off	Pair Corr
0.72	HD	Home Depot	Pair Corr
0.78	CAT	Caterpillar	Pair Corr
0.73	JNJ	Johnson Johnson	Pair Corr
0.81	XOM	Exxon Mobil Corp	Pair Corr
0.76	HPQ	HP Inc	Pair Corr
0.68	PG	Procter Gamble Sell-off Trend	Pair Corr
0.76	CVX	Chevron Corp	Pair Corr
0.85	VZ	Verizon Communications Aggressive Push	Pair Corr
0.91	TRV	The Travelers Companies	Pair Corr
0.8	DD	Dupont De Nemours	Pair Corr

Moving against Davenport Mutual Fund

0.7

Boeing

Pair Corr

Related Correlations Analysis

	FBJYGX	FXYBJX	FTUFOX	FZNOPX	FABWX	FURYAX	FLAKQX	HDCAX
FBJYGX		0.47	0.56	0.46	0.57	0.69	0.78	0.1	FBJYGX
FXYBJX	0.47		0.65	0.22	0.26	0.56	0.63	0.08	FXYBJX
FTUFOX	0.56	0.65		0.37	0.26	0.41	0.74	0.1	FTUFOX
FZNOPX	0.46	0.22	0.37		0.67	0.79	0.47	0.33	FZNOPX
FABWX	0.57	0.26	0.26	0.67		0.7	0.41	0.3	FABWX
FURYAX	0.69	0.56	0.41	0.79	0.7		0.7	0.36	FURYAX
FLAKQX	0.78	0.63	0.74	0.47	0.41	0.7		0.14	FLAKQX
HDCAX	0.1	0.08	0.1	0.33	0.3	0.36	0.14		HDCAX
	FBJYGX	FXYBJX	FTUFOX	FZNOPX	FABWX	FURYAX	FLAKQX	HDCAX

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Risk-Adjusted Indicators

There is a big difference between Davenport Mutual Fund performing well and Davenport Balanced 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 Davenport Balanced'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
FBJYGX	0.61	0.14	0.06	(2.38)	0.60	(0.65)	1.27	(1.30)	3.21
FXYBJX	0.36	0.08	0.00	2.04	0.00	0.00	0.67	(0.56)	1.72
FTUFOX	0.09	0.00	(0.68)	0.12	0.00	(0.11)	0.22	(0.11)	0.57
FZNOPX	0.72	0.09	0.01	0.71	0.69	(0.82)	1.55	(1.63)	3.75
FABWX	0.90	0.15	0.03	(1.70)	1.52	(0.95)	1.52	(1.12)	6.74
FURYAX	0.54	0.12	0.06	1.01	0.48	(0.68)	1.18	(1.06)	2.27
FLAKQX	0.69	0.12	0.04	1.40	0.77	(0.88)	1.67	(1.19)	3.60
HDCAX	0.50	0.08	(0.01)	35.48	0.52	(0.59)	0.95	(0.83)	3.80

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