Delaware Small Correlations

Mutual Funds . USA . 
Fund . Delaware Small Cap
DCCRX Fund  USD 30.28  0.47  1.58%   
The current 90-days correlation between Delaware Small Cap and Hartford Moderate Allocation is 0.75 (i.e., Poor 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

Very poor diversification

The correlation between Delaware Small Cap and DJI is 0.88 (i.e., Very poor 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 metropolitan statistical area.

Moving together with Delaware Mutual Fund

  0.91OASGX Optimum Small MidPairCorr
  0.96OASVX Optimum Small MidPairCorr
  0.94WSGAX Ivy Small CapPairCorr
  0.87OCLVX Optimum Large CapPairCorr
  0.87OCLGX Optimum Large CapPairCorr
  0.98OCSGX Optimum Small MidPairCorr
  0.96OCSVX Optimum Small MidPairCorr
  0.7WSTAX Ivy Science AndPairCorr
  0.64DMO Western Asset MortgagePairCorr
  0.86WCEAX Ivy E EquityPairCorr
  0.78OILVX Optimum Large CapPairCorr
  0.91OISGX Optimum Small MidPairCorr
  0.96OISVX Optimum Small MidPairCorr

Moving against Delaware Mutual Fund

  0.62OCFIX Optimum Fixed IncomePairCorr
  0.56DLHCX Delaware HealthcarePairCorr
  0.55DLHIX Delaware HealthcarePairCorr
  0.55DLHAX Delaware HealthcarePairCorr
  0.55DLRHX Delaware HealthcarePairCorr
  0.38FTORX First Investors TaxPairCorr
  0.37FTNYX Delaware Tax FreePairCorr
  0.36IMAAX Ivy Apollo MultiPairCorr
  0.35CXHYX Delaware National HighPairCorr
  0.34FTOTX First Investors TaxPairCorr
  0.63DPCFX Delaware DiversifiedPairCorr
  0.59OIFIX Optimum Fixed IncomePairCorr
  0.59DPFFX Delaware DiversifiedPairCorr
  0.42DMTFX Delaware Tax FreePairCorr
  0.36DMUSX Delaware Tax FreePairCorr
  0.35DPRRX Delaware ReitPairCorr
  0.34VCTFX Delaware Tax FreePairCorr
  0.32DPRSX Delaware ReitPairCorr

Related Correlations Analysis

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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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