Global Stock Correlations

DGLYX Fund

USD 23.51 0.08 0.34%

The current 90-days correlation between Global Stock and Davenport Small Cap is 0.13 (i.e., Average diversification). The correlation of Global Stock 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.

Global Stock Correlation With Market

Significant diversification

The correlation between Global Stock Fund and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global Stock 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 Global Stock 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 manufacturing.

Moving together with Global Mutual Fund

0.67	FNFPX	American Funds New	Pair Corr
0.67	FFPNX	American Funds New	Pair Corr
0.67	NPFCX	New Perspective	Pair Corr
0.67	ANWPX	New Perspective	Pair Corr
0.67	NPFFX	New Perspective	Pair Corr
0.67	CNPAX	New Perspective	Pair Corr
0.67	CNPEX	New Perspective	Pair Corr
0.67	CNPFX	New Perspective	Pair Corr
0.67	CNPCX	New Perspective	Pair Corr
0.67	RNPAX	New Perspective	Pair Corr

Moving against Global Mutual Fund

0.45	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.34	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Related Correlations Analysis

	DSCPX	TBDQX	MDBLX	HUDEX	RTOUX	GABSX	WMCVX
DSCPX		0.83	-0.5	0.79	0.92	0.45	0.97	DSCPX
TBDQX	0.83		-0.56	0.81	0.85	0.49	0.87	TBDQX
MDBLX	-0.5	-0.56		-0.58	-0.49	0.09	-0.41	MDBLX
HUDEX	0.79	0.81	-0.58		0.93	0.5	0.8	HUDEX
RTOUX	0.92	0.85	-0.49	0.93		0.46	0.92	RTOUX
GABSX	0.45	0.49	0.09	0.5	0.46		0.53	GABSX
WMCVX	0.97	0.87	-0.41	0.8	0.92	0.53		WMCVX
	DSCPX	TBDQX	MDBLX	HUDEX	RTOUX	GABSX	WMCVX

Click cells to compare fundamentals

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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

WMCVX	+ 0.97	DSCPX
RTOUX	+ 0.93	HUDEX
RTOUX	+ 0.92	DSCPX
WMCVX	+ 0.92	RTOUX
WMCVX	+ 0.87	TBDQX
RTOUX	+ 0.85	TBDQX

High negative correlations

HUDEX	- 0.58	MDBLX
MDBLX	- 0.56	TBDQX
MDBLX	- 0.5	DSCPX
RTOUX	- 0.49	MDBLX
WMCVX	- 0.41	MDBLX

Risk-Adjusted Indicators

There is a big difference between Global Mutual Fund performing well and Global Stock 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 Global Stock'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
DSCPX	0.82	(0.02)	0.01	0.10	0.77	(0.95)	1.74	(1.43)	6.20
TBDQX	0.74	(0.01)	(0.01)	0.11	1.10	(0.67)	1.67	(2.39)	5.04
MDBLX	0.22	0.00	(0.39)	0.21	0.27	(0.26)	0.37	(0.60)	1.35
HUDEX	0.68	0.06	(0.06)	0.94	0.73	(0.74)	1.58	(1.15)	5.46
RTOUX	0.80	0.10	0.00	0.81	0.84	(0.88)	1.78	(1.45)	6.26
GABSX	0.84	(0.13)	(0.05)	0.03	1.44	(0.81)	1.68	(1.35)	8.80
WMCVX	0.91	(0.06)	0.00	0.08	0.88	(1.01)	1.99	(1.49)	7.94

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