Destinations Equity Correlations

Mutual Funds . USA . 
Fund . Destinations Equity Income
DGEFX Fund  USD 14.91  0.02  0.13%   
The current 90-days correlation between Destinations Equity and Destinations Multi Strategy is -0.13 (i.e., Good diversification). The correlation of Destinations Equity 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.

Destinations Equity Correlation With Market

Very poor diversification

The correlation between Destinations Equity Income and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Destinations Equity 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 Destinations Equity 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 price.

Moving together with Destinations Mutual Fund

  0.98DIEZX Destinations InternationalPairCorr
  0.98DIEFX Destinations InternationalPairCorr
  0.86DLCFX Destinations Large CapPairCorr
  0.93DLDFX Destinations Low DurationPairCorr
  0.87DLCZX Destinations Large CapPairCorr
  0.93DLDZX Destinations Low DurationPairCorr
  0.91DMFFX Destinations MunicipalPairCorr
  0.92DMFZX Destinations MunicipalPairCorr
  0.77DMSFX Destinations MultiPairCorr
  0.78DMSZX Destinations MultiPairCorr
  0.94DRAFX Destinations Real AssetsPairCorr
  0.97DSMFX Destinations Small MidPairCorr
  0.97DSMZX Destinations Small MidPairCorr
  0.67DCFFX Destinations Core FixedPairCorr
  0.72DCFZX Destinations Core FixedPairCorr
  1.0DGEZX Destinations EquityPairCorr
  0.95DGFZX Destinations Global FixedPairCorr
  0.95DGFFX Destinations Global FixedPairCorr
  0.95TEDRX Franklin Mutual GlobalPairCorr
  0.97FMDRX Franklin Mutual GlobalPairCorr
  0.97DODWX Dodge Global StockPairCorr
  0.93PRAFX T Rowe PricePairCorr
  0.97DOXWX Dodge Cox GlobalPairCorr
  0.96TEDIX Franklin Mutual GlobalPairCorr
  0.95MDISX Franklin Mutual GlobalPairCorr
  0.96TEDSX Franklin Mutual GlobalPairCorr
  0.94TRZRX T Rowe PricePairCorr
  0.96BEGRX Franklin Mutual BeaconPairCorr
  0.89SMPIX Semiconductor Ultrasector Potential GrowthPairCorr
  0.91SMPSX Semiconductor Ultrasector Potential GrowthPairCorr
  0.82OSPPX Oppenheimer Steelpath MlpPairCorr
  0.82SPMPX Invesco Steelpath MlpPairCorr
  0.82MLPNX Oppenheimer Steelpath MlpPairCorr
  0.81MLPLX Oppenheimer Steelpath MlpPairCorr
  0.81SPMJX Invesco Steelpath MlpPairCorr
  0.91RSNRX Victory Global NaturalPairCorr
  0.91RSNYX Victory Global NaturalPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Destinations Mutual Fund performing well and Destinations Equity 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 Destinations Equity'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
DIEZX  0.69  0.31  0.37  0.62  0.09 
(0.91)
 1.43 
(1.15)
 11.74 
DIEFX  0.66  0.28  0.33  0.56  0.15 
(0.87)
 1.40 
(1.21)
 9.80 
DLCFX  0.62  0.09  0.09  0.18  0.59 
(0.74)
 1.14 
(1.29)
 8.45 
DLDFX  0.07  0.03  0.00 (5.34) 0.00 
 0.00 
 0.11 
(0.11)
 0.54 
DLCZX  0.69  0.15  0.16  0.27  0.51 
(0.85)
 1.16 
(1.33)
 12.33 
DLDZX  0.08  0.03 (0.14)(2.14) 0.00 
(0.15)
 0.11 
(0.11)
 0.53 
DMFFX  0.06  0.00 (0.24) 0.00  0.00 
(0.11)
 0.10 
(0.10)
 0.41 
DMFZX  0.06  0.02 (0.29) 3.93  0.00 
(0.11)
 0.10 
(0.10)
 0.41 
DMSFX  0.13  0.02 (0.20) 0.21  0.00 
(0.20)
 0.30 
(0.20)
 1.27 
DMSZX  0.14  0.02 (0.18) 0.21  0.00 
(0.22)
 0.31 
(0.20)
 1.31 

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