Japanese Small Correlations

Mutual Funds . USA . 
Fund . Japanese Small Pany
DFJSX Fund  USD 33.28  0.69  2.12%   
The current 90-days correlation between Japanese Small Pany and World Core Equity is -0.12 (i.e., Good diversification). The correlation of Japanese 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.

Japanese Small Correlation With Market

Poor diversification

The correlation between Japanese Small Pany and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Japanese Small Pany 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 Japanese Small Pany. 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 main economic indicators.

Moving together with Japanese Mutual Fund

  0.98DIHRX Intal High RelativePairCorr
  0.64DISVX Dfa International SmallPairCorr
  0.61DISMX Dfa InternationalPairCorr
  0.95DMNBX Dfa Mn MunicipalPairCorr
  0.93DNYMX Dfa Ny MunicipalPairCorr
  0.97DOGMX Dfa Oregon MunicipalPairCorr
  0.91DRIIX Dimensional 2045 TargetPairCorr
  0.91DRIHX Dimensional 2040 TargetPairCorr
  0.87DRIGX Dimensional 2035 TargetPairCorr
  0.87DRIWX Dimensional 2030 TargetPairCorr
  0.91DRIUX Dimensional 2025 TargetPairCorr
  0.86DRIRX Dimensional 2020 TargetPairCorr
  0.83DRIQX Dimensional 2015 TargetPairCorr
  0.91DRILX Dimensional 2060 TargetPairCorr
  0.91DRIKX Dimensional 2055 TargetPairCorr
  0.91DRIJX Dimensional 2050 TargetPairCorr
  0.97DAADX Dfa Emerging MarketsPairCorr
  0.93DAABX Dfa SustainabilityPairCorr
  0.97DSCLX Dfa International SocialPairCorr
  0.84DSCGX Dfa SmallPairCorr
  0.83DSFIX Dfa Social FixedPairCorr
  0.94DSHGX Dfa Selectively HedgedPairCorr
  0.97DSSMX Dfa Selective StatePairCorr
  0.97DTCPX Dfa Targeted CreditPairCorr
  0.91DTDRX Dimensional 2065 TargetPairCorr
  0.78DCARX Dfa California MunicipalPairCorr
  0.97DCIBX Dfa Ca IntPairCorr
  0.88DCMSX Dfa Commodity StrategyPairCorr
  0.69DUSQX Us Lg CapPairCorr
  0.75DUSLX Dfa LargePairCorr
  0.96DEMSX Emerging Markets SmallPairCorr
  0.96DEMGX Emerging Markets TargetedPairCorr
  0.66DWFIX Dfa World ExPairCorr
  0.96DESIX Emerging Markets SusPairCorr
  0.9DFARX Dimensional 2070 TargetPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Japanese Mutual Fund performing well and Japanese 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 Japanese 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
DIHRX  0.52  0.15  0.19  0.35  0.23 
(0.61)
 1.16 
(0.85)
 3.25 
DILRX  0.57  0.13  0.14  0.30  0.43 
(0.68)
 1.31 
(1.03)
 3.64 
DIPSX  0.14  0.01 (0.39) 1.49  0.05 
(0.17)
 0.27 
(0.27)
 0.63 
DISVX  0.59  0.29  0.36  0.57  0.00 
(0.74)
 1.62 
(0.71)
 7.06 
DISMX  0.55  0.12  0.11  0.31  0.58 
(0.61)
 1.29 
(0.99)
 3.42 
DMNBX  0.03  0.00  0.00 (0.23) 0.00 
 0.00 
 0.10 
 0.00 
 0.20 
DMREX  0.06  0.01 (0.64) 0.65  0.00 
(0.16)
 0.09 
(0.09)
 1.04 
DNYMX  0.03  0.00  0.00  0.24  0.00 
 0.00 
 0.10 
 0.00 
 0.10 
DOGMX  0.05  0.02  0.00  1.68  0.00 
 0.00 
 0.10 
(0.10)
 0.30 
DREIX  0.54  0.13  0.14  0.30  0.33 
(0.64)
 1.01 
(0.92)
 5.16 

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