Delaware Small Correlations

Mutual Funds . USA . 
Fund . Delaware Small Cap
DEVLX Fund  USD 67.20  0.70  1.03%   
The current 90-days correlation between Delaware Small Cap and Delaware Smid Cap is -0.06 (i.e., Good 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

Weak diversification

The correlation between Delaware Small Cap and DJI is 0.32 (i.e., Weak 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 bureau of economic analysis.

Moving together with Delaware Mutual Fund

  0.96OASVX Optimum Small MidPairCorr
  0.86IMAAX Ivy Apollo MultiPairCorr
  0.74OCFIX Optimum Fixed IncomePairCorr
  0.93WASAX Ivy Asset StrategyPairCorr
  0.93WSGAX Ivy Small CapPairCorr
  0.93OCLVX Optimum Large CapPairCorr
  0.9OCLGX Optimum Large CapPairCorr
  0.96OCSVX Optimum Small MidPairCorr
  0.7WSTAX Ivy Science AndPairCorr
  0.68CXHYX Delaware National HighPairCorr
  0.96WCEAX Ivy E EquityPairCorr
  0.63FTNYX Delaware Tax FreePairCorr
  0.63FTOTX First Investors TaxPairCorr
  0.68DLHIX Delaware HealthcarePairCorr
  0.68DLHCX Delaware HealthcarePairCorr
  0.68DLHAX Delaware HealthcarePairCorr
  0.71DLRHX Delaware HealthcarePairCorr
  0.68DMHIX Delaware Minnesota HighPairCorr
  0.72DMOCX Delaware Tax FreePairCorr
  0.61DMNIX Delaware Tax FreePairCorr
  0.7DMTFX Delaware Tax FreePairCorr
  0.7VAZIX Delaware Tax FreePairCorr
  0.93IRSAX Ivy Advantus RealPairCorr
  0.72OIFIX Optimum Fixed IncomePairCorr
  0.85OILGX Optimum Large CapPairCorr
  0.92OILVX Optimum Large CapPairCorr
  0.72DPCFX Delaware DiversifiedPairCorr
  0.7DPDFX Delaware DiversifiedPairCorr
  0.69DPFFX Delaware DiversifiedPairCorr

Moving against Delaware Mutual Fund

  0.36DLTZX Delaware Limited TermPairCorr

Related Correlations Analysis

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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   
DPREX
+ 0.89
DDVAX
DVEAX
+ 0.78
DEGIX
DEGIX
+ 0.51
DFCIX
DDVAX
+ 0.47
DFCIX
DPREX
+ 0.38
DFCIX
DVEAX
+ 0.25
DFCIX
  
High negative correlations   
DVEAX
- 0.62
DDVAX
DVEAX
- 0.58
DPREX
DEGIX
- 0.36
DPREX
DEGIX
- 0.29
DDVAX

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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