Delaware Small Correlations

Mutual Funds . USA . 
Fund . Delaware Small Cap
DCCCX Fund  USD 25.23  0.46  1.79%   
The current 90-days correlation between Delaware Small Cap and Siit High Yield is 0.24 (i.e., Modest diversification). The correlation of Delaware Small 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.

Delaware Small Correlation With Market

Almost no diversification

The correlation between Delaware Small Cap and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Delaware Small Cap 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 Delaware Small Cap. 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 unemployment.

Moving together with Delaware Mutual Fund

  0.96WASAX Ivy Asset StrategyPairCorr
  0.93WSGAX Ivy Small CapPairCorr
  0.94WCEAX Ivy E EquityPairCorr
  0.86DLHCX Delaware HealthcarePairCorr
  0.87DLHAX Delaware HealthcarePairCorr
  0.92IPOAX Ivy Emerging MarketsPairCorr
  0.64DMOCX Delaware Tax FreePairCorr
  0.91IRSAX Ivy Advantus RealPairCorr
  0.97FGIPX First Investors GrowthPairCorr
  0.95FGINX First Investors GrowthPairCorr
  0.82WHIAX Ivy High IncomePairCorr
  0.88DPREX Delaware ReitPairCorr
  0.88DPRCX Delaware ReitPairCorr
  0.83IBNAX Ivy BalancedPairCorr
  0.95IVIAX Ivy InternationalPairCorr
  0.95IVINX Ivy Global GrowthPairCorr
  0.95FIUSX First Investors OppoPairCorr
  0.98FIVUX First Investors OppoPairCorr
  0.91IVOAX Ivy Mid CapPairCorr
  0.88IEYAX Ivy Energy FundPairCorr
  0.87DTICX Delaware Limited TermPairCorr
  0.78WLGAX Ivy Large CapPairCorr
  0.84DTRIX Delaware Limited TermPairCorr
  0.98DCCAX Delaware Small CapPairCorr
  0.86WMGAX Ivy Mid CapPairCorr

Moving against Delaware Mutual Fund

  0.43DVHCX Delaware National HighPairCorr
  0.34DUSCX Delaware Tax FreePairCorr
  0.33DVFNX Delaware Tax FreePairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Delaware Mutual Fund performing well and Delaware Small 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 Delaware Small'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.

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