Destinations Equity Correlations

Mutual Funds . USA . 
Fund . Destinations Equity Income
DGEFX Fund  USD 14.29  0.05  0.35%   
The current 90-days correlation between Destinations Equity and Madison Diversified Income is -0.11 (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 0.86 (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

  0.99DIEZX Destinations InternationalPairCorr
  0.99DIEFX Destinations InternationalPairCorr
  0.97DLCFX Destinations Large CapPairCorr
  0.94DLDFX Destinations Low DurationPairCorr
  0.98DLCZX Destinations Large CapPairCorr
  0.94DLDZX Destinations Low DurationPairCorr
  0.89DMFFX Destinations MunicipalPairCorr
  0.87DMFZX Destinations MunicipalPairCorr
  0.96DMSFX Destinations MultiPairCorr
  0.96DMSZX Destinations MultiPairCorr
  0.94DRAFX Destinations Real AssetsPairCorr
  0.67DSHZX Brinker Capital DestPairCorr
  0.65DSHFX Brinker Capital DestPairCorr
  0.97DSMFX Destinations Small MidPairCorr
  0.98DSMZX Destinations Small MidPairCorr
  1.0DGEZX Destinations EquityPairCorr
  0.94DGFZX Destinations Global FixedPairCorr
  0.94DGFFX Destinations Global FixedPairCorr
  0.96TEDRX Franklin Mutual GlobalPairCorr
  0.96FMDRX Franklin Mutual GlobalPairCorr
  0.98DODWX Dodge Global StockPairCorr
  0.98DOXWX Dodge Cox GlobalPairCorr
  0.91PRAFX T Rowe PricePairCorr
  0.91TRZRX T Rowe PricePairCorr
  0.91TEDIX Franklin Mutual GlobalPairCorr
  0.96MDISX Franklin Mutual GlobalPairCorr
  0.94TEDSX Franklin Mutual GlobalPairCorr
  0.97BEGRX Franklin Mutual BeaconPairCorr
  0.62PDI Pimco Dynamic IncomePairCorr

Moving against Destinations Mutual Fund

  0.92CESGX Coho Relative ValuePairCorr
  0.87UIPIX Ultrashort Mid CapPairCorr
  0.76TCSUX Cleartrack 2020 ClassPairCorr
  0.75TCTGX Transamerica CleartrackPairCorr
  0.74TDKTX Cleartrack 2015 ClassPairCorr
  0.74TCTJX Transamerica CleartrackPairCorr

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.

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