Davis International Correlations

DILAX Fund

USD 13.68 0.10 0.74%

The current 90-days correlation between Davis International and Davis International Fund is 1.0 (i.e., No risk reduction). The correlation of Davis International 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.

Davis International Correlation With Market

Modest diversification

The correlation between Davis International Fund and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Davis International 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 Davis International 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 nation.

Moving together with Davis Mutual Fund

0.97	DILCX	Davis International	Pair Corr
1.0	DILYX	Davis International	Pair Corr
0.65	RPEAX	Davis Opportunity	Pair Corr
0.67	DNVYX	Davis New York	Pair Corr
0.7	NYVCX	Davis New York	Pair Corr
0.7	NYVBX	Davis New York	Pair Corr
0.7	NYVRX	Davis New York	Pair Corr
0.7	NYVTX	Davis New York	Pair Corr
0.94	DGFCX	Davis Global	Pair Corr
0.93	DGFAX	Davis Global	Pair Corr
0.69	PAHHX	T Rowe Price	Pair Corr
0.77	LLPFX	Longleaf Partners	Pair Corr

Moving against Davis Mutual Fund

0.61	DGVCX	Davis Government Bond	Pair Corr
0.43	RFBAX	Davis Government Bond	Pair Corr
0.41	DGVYX	Davis Government Bond	Pair Corr
0.8	PFHCX	Pacific Funds Small	Pair Corr
0.35	PPRWX	Putnam Panagora Risk	Pair Corr
0.34	PPRPX	Putnam Panagora Risk	Pair Corr
0.33	PPROX	Putnam Panagora Risk	Pair Corr

Related Correlations Analysis

	DILYX	RPFGX	RPFCX	RPFRX	RPEAX	DNVYX	RFBAX	DREYX
DILYX		0.46	0.43	-0.27	0.66	0.67	-0.43	-0.27	DILYX
RPFGX	0.46		0.97	-0.34	0.95	0.89	-0.61	-0.33	RPFGX
RPFCX	0.43	0.97		-0.26	0.96	0.88	-0.53	-0.25	RPFCX
RPFRX	-0.27	-0.34	-0.26		-0.28	-0.37	0.63	1.0	RPFRX
RPEAX	0.66	0.95	0.96	-0.28		0.93	-0.58	-0.27	RPEAX
DNVYX	0.67	0.89	0.88	-0.37	0.93		-0.62	-0.36	DNVYX
RFBAX	-0.43	-0.61	-0.53	0.63	-0.58	-0.62		0.63	RFBAX
DREYX	-0.27	-0.33	-0.25	1.0	-0.27	-0.36	0.63		DREYX
	DILYX	RPFGX	RPFCX	RPFRX	RPEAX	DNVYX	RFBAX	DREYX

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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

DREYX	+ 1.0	RPFRX
RPFCX	+ 0.97	RPFGX
RPEAX	+ 0.96	RPFCX
RPEAX	+ 0.95	RPFGX
DNVYX	+ 0.93	RPEAX
DNVYX	+ 0.89	RPFGX

High negative correlations

RFBAX	- 0.62	DNVYX
RFBAX	- 0.61	RPFGX
RFBAX	- 0.58	RPEAX
RFBAX	- 0.53	RPFCX
RFBAX	- 0.43	DILYX
DNVYX	- 0.37	RPFRX

Risk-Adjusted Indicators

There is a big difference between Davis Mutual Fund performing well and Davis International 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 Davis International'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
DILYX	1.17	0.11	0.02	0.35	1.67	(1.14)	2.99	(2.44)	11.08
RPFGX	0.80	0.05	0.11	0.16	0.51	(0.97)	1.85	(1.40)	7.59
RPFCX	0.54	(0.01)	(0.03)	0.11	0.57	(0.59)	1.10	(1.18)	4.01
RPFRX	0.69	(0.01)	(0.11)	0.08	0.81	(0.72)	1.36	(1.30)	3.53
RPEAX	0.74	0.01	0.03	0.13	0.74	(0.79)	1.52	(1.45)	4.82
DNVYX	0.71	0.13	(0.01)	(0.70)	0.81	(0.71)	1.80	(1.58)	4.59
RFBAX	0.06	(0.01)	(0.60)	(0.89)	0.06	(0.22)	0.20	(0.20)	0.59
DREYX	0.69	(0.01)	(0.11)	0.09	0.81	(0.75)	1.34	(1.33)	3.52

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