Davis Appreciation Correlations

DCSCX Fund

USD 67.15 0.42 0.63%

The current 90-days correlation between Davis Appreciation Income and Invesco Global Health is 0.05 (i.e., Significant diversification). The correlation of Davis Appreciation 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.

Davis Appreciation Correlation With Market

Significant diversification

The correlation between Davis Appreciation Income and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Davis Appreciation 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 Davis Appreciation 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 manufacturing.

Moving together with Davis Mutual Fund

0.62	RPFGX	Davis Financial	Pair Corr
0.92	RPFCX	Davis Appreciation Income	Pair Corr
0.61	DNVYX	Davis New York	Pair Corr
0.69	NYVCX	Davis New York	Pair Corr
0.7	NYVRX	Davis New York	Pair Corr
0.65	NYVTX	Davis New York	Pair Corr
0.92	DCSYX	Davis Appreciation Income	Pair Corr
0.66	DVFYX	Davis Financial	Pair Corr
0.7	DFFCX	Davis Financial	Pair Corr
0.72	DGVCX	Davis Government Bond	Pair Corr
0.66	DGVYX	Davis Government Bond	Pair Corr
0.62	IFAFX	Income Fund	Pair Corr
0.86	GAAKX	Gmo Alternative Allo	Pair Corr
0.87	GAAGX	Gmo Alternative Allo	Pair Corr

Moving against Davis Mutual Fund

0.4	DREYX	Davis Real Estate	Pair Corr
0.36	DRECX	Davis Real Estate	Pair Corr
0.34	RPFRX	Davis Real Estate	Pair Corr

Related Correlations Analysis

	GTHCX	SWHFX	BHSRX	VGHCX	LYFAX	PGHAX
GTHCX		0.91	0.84	0.78	0.65	0.67	GTHCX
SWHFX	0.91		0.95	0.92	0.8	0.86	SWHFX
BHSRX	0.84	0.95		0.94	0.9	0.89	BHSRX
VGHCX	0.78	0.92	0.94		0.94	0.94	VGHCX
LYFAX	0.65	0.8	0.9	0.94		0.9	LYFAX
PGHAX	0.67	0.86	0.89	0.94	0.9		PGHAX
	GTHCX	SWHFX	BHSRX	VGHCX	LYFAX	PGHAX

Risk-Adjusted Indicators

There is a big difference between Davis Mutual Fund performing well and Davis Appreciation 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 Davis Appreciation'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
GTHCX	0.77	0.29	0.40	0.57	0.00	(1.04)	1.59	(1.11)	14.84
SWHFX	0.62	0.19	0.23	0.45	0.27	(0.77)	2.17	(1.00)	5.16
BHSRX	0.61	0.21	0.28	0.47	0.17	(0.77)	1.82	(1.00)	4.57
VGHCX	0.66	0.22	0.23	2.81	0.30	(0.76)	2.23	(1.24)	5.27
LYFAX	0.85	0.25	0.20	6.08	0.69	(1.03)	2.00	(1.56)	4.78
PGHAX	0.60	0.10	0.11	0.26	0.49	(0.72)	1.85	(1.11)	5.20

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