Davis Financial Correlations

DFFCX Fund

USD 61.06 0.69 1.14%

The current 90-days correlation between Davis Financial and Dreyfusstandish Global Fixed is 0.25 (i.e., Modest diversification). The correlation of Davis Financial 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 Financial Correlation With Market

Poor diversification

The correlation between Davis Financial Fund and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Davis Financial Fund 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 Financial Fund. 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 private.

Moving together with Davis Mutual Fund

0.74	DILCX	Davis International	Pair Corr
0.74	DILAX	Davis International	Pair Corr
0.74	DILYX	Davis International	Pair Corr
0.78	RPFGX	Davis Financial	Pair Corr
0.81	RPFCX	Davis Appreciation Income	Pair Corr
0.95	RPEAX	Davis Opportunity	Pair Corr
0.88	DNVYX	Davis New York	Pair Corr
0.74	NYVCX	Davis New York	Pair Corr
0.89	NYVRX	Davis New York	Pair Corr
0.72	NYVTX	Davis New York	Pair Corr
0.79	DCSYX	Davis Appreciation Income	Pair Corr
1.0	DVFYX	Davis Financial	Pair Corr
0.94	DGFCX	Davis Global	Pair Corr
0.94	DGFAX	Davis Global	Pair Corr
0.98	DGFYX	Davis Global	Pair Corr
0.91	DGOCX	Davis Opportunity	Pair Corr
0.91	DGOYX	Davis Opportunity	Pair Corr
0.75	DGVCX	Davis Government Bond	Pair Corr
0.71	VFAIX	Vanguard Financials Index	Pair Corr
0.71	FRBCX	Regional Bank Steady Growth	Pair Corr
0.68	JRGRX	Regional Bank Steady Growth	Pair Corr
0.95	PRISX	T Rowe Price	Pair Corr
0.79	FSLBX	Brokerage And Investment	Pair Corr
0.72	FIDSX	Financial Services	Pair Corr
0.71	WRHIX	Ivy High Income	Pair Corr
0.76	WHIAX	Ivy High Income	Pair Corr
0.71	IHIFX	Ivy High Income	Pair Corr
0.61	IVHIX	Ivy High Income	Pair Corr
0.68	GCPCX	Gateway Equity Call	Pair Corr
0.85	CIGCX	Calamos International	Pair Corr

Moving against Davis Mutual Fund

0.75

FIDCX

Financial Industries

Pair Corr

Related Correlations Analysis

	SGMAX	DSDYX	SMYIX	DBLGX	MSTGX	LFLCX	DHGCX
SGMAX		0.34	0.97	0.75	0.87	0.84	-0.07	SGMAX
DSDYX	0.34		0.35	0.31	0.3	0.33	0.68	DSDYX
SMYIX	0.97	0.35		0.78	0.87	0.85	-0.07	SMYIX
DBLGX	0.75	0.31	0.78		0.89	0.89	-0.14	DBLGX
MSTGX	0.87	0.3	0.87	0.89		0.98	-0.13	MSTGX
LFLCX	0.84	0.33	0.85	0.89	0.98		-0.06	LFLCX
DHGCX	-0.07	0.68	-0.07	-0.14	-0.13	-0.06		DHGCX
	SGMAX	DSDYX	SMYIX	DBLGX	MSTGX	LFLCX	DHGCX

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

LFLCX	+ 0.98	MSTGX
SMYIX	+ 0.97	SGMAX
MSTGX	+ 0.89	DBLGX
LFLCX	+ 0.89	DBLGX
MSTGX	+ 0.87	SGMAX
MSTGX	+ 0.87	SMYIX

High negative correlations

DHGCX	- 0.14	DBLGX
DHGCX	- 0.13	MSTGX
DHGCX	- 0.07	SMYIX
DHGCX	- 0.07	SGMAX
DHGCX	- 0.06	LFLCX

Risk-Adjusted Indicators

There is a big difference between Davis Mutual Fund performing well and Davis Financial 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 Financial'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
SGMAX	0.57	0.28	0.56	0.65	0.00	(0.79)	0.81	(0.52)	14.48
DSDYX	0.09	(0.01)	(0.47)	(0.14)	0.11	(0.10)	0.20	(0.20)	0.59
SMYIX	0.63	0.12	0.12	0.26	0.61	(0.69)	1.16	(1.16)	7.76
DBLGX	0.18	0.01	(0.15)	0.29	0.12	(0.23)	0.34	(0.23)	1.45
MSTGX	0.25	0.08	0.12	0.31	0.00	(0.30)	0.58	(0.41)	1.41
LFLCX	0.13	0.02	(0.15)	0.84	0.00	(0.18)	0.32	(0.32)	0.75
DHGCX	0.09	(0.02)	0.00	(0.88)	0.00	0.00	0.16	(0.21)	0.62

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