Delaware Small Correlations

DCCCX Fund

USD 25.59 0.15 0.59%

The current 90-days correlation between Delaware Small Cap and Delaware Healthcare Fund 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 0.93 (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 services.

Moving together with Delaware Mutual Fund

0.96	WASAX	Ivy Asset Strategy	Pair Corr
0.89	WSGAX	Ivy Small Cap	Pair Corr
0.74	WSTAX	Ivy Science And	Pair Corr
0.93	WCEAX	Ivy E Equity	Pair Corr
0.61	FTORX	First Investors Tax	Pair Corr
0.65	FTOTX	First Investors Tax	Pair Corr
0.87	DLHCX	Delaware Healthcare	Pair Corr
0.88	DLHAX	Delaware Healthcare	Pair Corr
0.93	IPOAX	Ivy Emerging Markets	Pair Corr
0.75	DMOCX	Delaware Tax Free	Pair Corr
0.63	DMUSX	Delaware Tax Free	Pair Corr
0.87	IRSAX	Ivy Advantus Real	Pair Corr
0.7	VCTFX	Delaware Tax Free	Pair Corr
0.67	DPCFX	Delaware Diversified	Pair Corr
0.69	DPDFX	Delaware Diversified	Pair Corr
0.98	FGIPX	First Investors Growth	Pair Corr
0.98	FGINX	First Investors Growth	Pair Corr
0.84	WHIAX	Ivy High Income	Pair Corr
0.85	DPREX	Delaware Reit	Pair Corr
0.85	DPRCX	Delaware Reit	Pair Corr
0.85	IBNAX	Ivy Balanced	Pair Corr
0.95	IVIAX	Ivy International	Pair Corr
0.95	IVINX	Ivy Global Growth	Pair Corr
0.98	FIUSX	First Investors Oppo	Pair Corr
0.98	FIVUX	First Investors Oppo	Pair Corr
0.9	IVOAX	Ivy Mid Cap	Pair Corr
0.88	IEYAX	Ivy Energy Fund	Pair Corr
0.86	DTICX	Delaware Limited Term	Pair Corr
0.91	DTRIX	Delaware Limited Term	Pair Corr
1.0	DCCAX	Delaware Small Cap	Pair Corr
0.93	DUGCX	Delaware Core Plus	Pair Corr
0.82	WMGAX	Ivy Mid Cap	Pair Corr

Related Correlations Analysis

	WASAX	WSGAX	WSTAX	CXHYX	WCEAX	FTNYX	FTORX	FTOTX	DLHCX	DLHAX
WASAX		0.95	0.74	0.19	0.99	0.34	0.56	0.6	0.83	0.83	WASAX
WSGAX	0.95		0.63	0.08	0.96	0.22	0.44	0.48	0.81	0.81	WSGAX
WSTAX	0.74	0.63		0.37	0.69	0.4	0.55	0.58	0.63	0.64	WSTAX
CXHYX	0.19	0.08	0.37		0.1	0.95	0.89	0.87	-0.01	0.0	CXHYX
WCEAX	0.99	0.96	0.69	0.1		0.25	0.47	0.51	0.82	0.82	WCEAX
FTNYX	0.34	0.22	0.4	0.95	0.25		0.96	0.94	0.13	0.15	FTNYX
FTORX	0.56	0.44	0.55	0.89	0.47	0.96		0.99	0.33	0.34	FTORX
FTOTX	0.6	0.48	0.58	0.87	0.51	0.94	0.99		0.39	0.4	FTOTX
DLHCX	0.83	0.81	0.63	-0.01	0.82	0.13	0.33	0.39		1.0	DLHCX
DLHAX	0.83	0.81	0.64	0.0	0.82	0.15	0.34	0.4	1.0		DLHAX
	WASAX	WSGAX	WSTAX	CXHYX	WCEAX	FTNYX	FTORX	FTOTX	DLHCX	DLHAX

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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

DLHAX	+ 1.0	DLHCX
WCEAX	+ 0.99	WASAX
FTOTX	+ 0.99	FTORX
WCEAX	+ 0.96	WSGAX
FTORX	+ 0.96	FTNYX
WSGAX	+ 0.95	WASAX

High negative correlations

DLHCX	- 0.01	CXHYX
DLHAX	- 0.0	CXHYX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
WASAX	0.57	0.17	0.19	0.44	0.29	(0.65)	0.92	(1.08)	10.31
WSGAX	2.05	0.52	0.13	0.99	3.06	(2.85)	2.28	(1.90)	68.29
WSTAX	1.23	(0.04)	(0.02)	0.02	1.87	(1.10)	2.14	(3.27)	7.77
CXHYX	0.11	0.00	(0.27)	(0.01)	0.09	(0.20)	0.31	(0.31)	0.93
WCEAX	0.86	0.19	0.17	0.37	0.68	(0.97)	1.11	(1.46)	17.19
FTNYX	0.10	0.00	(0.25)	0.25	0.00	(0.18)	0.29	(0.19)	0.97
FTORX	0.10	0.01	(0.31)	0.71	0.00	(0.14)	0.25	(0.17)	0.82
FTOTX	0.10	0.01	(0.28)	0.84	0.00	(0.15)	0.25	(0.08)	0.83
DLHCX	0.93	0.25	0.30	0.41	0.43	(1.27)	2.16	(1.15)	9.05
DLHAX	0.98	0.23	0.26	0.37	0.54	(1.31)	2.18	(1.46)	10.20

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