Davis Select Correlations

DFNL Etf

USD 46.91 0.00 0.00%

The current 90-days correlation between Davis Select Financial and iShares MSCI Mexico is 0.3 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Davis Select moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Davis Select Financial moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Davis Select Correlation With Market

Very poor diversification

The correlation between Davis Select Financial and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Davis Select Financial and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Davis Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Davis Select Financial. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving together with Davis Etf

0.61	XLF	Financial Select Sector	Pair Corr
0.67	VFH	Vanguard Financials Index	Pair Corr
0.7	KRE	SPDR SP Regional	Pair Corr
0.78	KBE	SPDR SP Bank	Pair Corr
0.75	IYF	iShares Financials ETF	Pair Corr
0.67	FNCL	Fidelity MSCI Financials	Pair Corr
0.67	IYG	iShares Financial	Pair Corr
0.95	FXO	First Trust Financials	Pair Corr
0.8	IAT	iShares Regional Banks	Pair Corr
0.96	IXG	iShares Global Financials	Pair Corr
0.66	SIXD	AIM ETF Products	Pair Corr
0.62	KNGZ	First Trust Exchange	Pair Corr
0.72	UAUG	Innovator Equity Ultra	Pair Corr
0.74	DAUG	FT Cboe Vest	Pair Corr
0.79	DIA	SPDR Dow Jones Sell-off Trend	Pair Corr
0.68	QTAP	Innovator Growth 100	Pair Corr

Moving against Davis Etf

0.89	VXX	iPath Series B	Pair Corr
0.88	VIXY	ProShares VIX Short	Pair Corr

Related Correlations Analysis

	IYJ	IYC	IDU	SMMD	IWL	IPAC	EWA	IXC	EPP	EWW
IYJ		0.11	0.55	0.96	0.24	0.95	0.91	0.87	0.93	0.94	IYJ
IYC	0.11		-0.55	0.26	0.74	-0.15	-0.18	-0.29	-0.14	-0.06	IYC
IDU	0.55	-0.55		0.45	-0.33	0.73	0.74	0.76	0.71	0.63	IDU
SMMD	0.96	0.26	0.45		0.36	0.88	0.84	0.81	0.87	0.92	SMMD
IWL	0.24	0.74	-0.33	0.36		0.07	0.09	-0.04	0.13	0.14	IWL
IPAC	0.95	-0.15	0.73	0.88	0.07		0.97	0.97	0.98	0.97	IPAC
EWA	0.91	-0.18	0.74	0.84	0.09	0.97		0.96	0.99	0.96	EWA
IXC	0.87	-0.29	0.76	0.81	-0.04	0.97	0.96		0.96	0.94	IXC
EPP	0.93	-0.14	0.71	0.87	0.13	0.98	0.99	0.96		0.97	EPP
EWW	0.94	-0.06	0.63	0.92	0.14	0.97	0.96	0.94	0.97		EWW
	IYJ	IYC	IDU	SMMD	IWL	IPAC	EWA	IXC	EPP	EWW

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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

EPP	+ 0.99	EWA
EPP	+ 0.98	IPAC
EWA	+ 0.97	IPAC
IXC	+ 0.97	IPAC
EWW	+ 0.97	IPAC
EWW	+ 0.97	EPP

High negative correlations

IDU	- 0.55	IYC
IWL	- 0.33	IDU
IXC	- 0.29	IYC
EWA	- 0.18	IYC
IPAC	- 0.15	IYC
EPP	- 0.14	IYC

Davis Select Constituents Risk-Adjusted Indicators

There is a big difference between Davis Etf performing well and Davis Select ETF 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 Select'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
IYJ	0.70	0.11	0.11	0.18	0.70	(0.71)	1.67	(1.43)	4.70
IYC	0.62	0.00	(0.02)	0.08	0.70	(0.67)	1.44	(1.38)	3.89
IDU	0.71	0.11	0.05	0.95	0.80	(0.79)	1.27	(1.30)	4.18
SMMD	0.77	0.09	0.12	0.17	0.64	(0.90)	1.64	(1.37)	5.17
IWL	0.53	(0.02)	(0.05)	0.06	0.67	(0.57)	0.99	(1.24)	3.77
IPAC	0.61	0.19	0.22	0.40	0.24	(0.69)	1.54	(1.01)	3.73
EWA	0.69	0.24	0.25	0.50	0.49	(0.85)	1.96	(0.93)	4.60
IXC	1.00	0.31	0.21	1.71	0.87	(1.16)	2.17	(1.75)	5.05
EPP	0.59	0.19	0.20	0.46	0.42	(0.70)	1.34	(0.81)	4.30
EWW	0.92	0.28	0.21	0.51	0.86	(1.10)	1.96	(1.45)	7.17

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