Dana Large Correlations

DLCEX Fund

USD 22.00 0.11 0.50%

The current 90-days correlation between Dana Large Cap and Aqr Managed Futures is 0.09 (i.e., Significant diversification). The correlation of Dana Large 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.

Dana Large Correlation With Market

Average diversification

The correlation between Dana Large Cap and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dana Large Cap 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 Dana Large Cap. 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 income.

Moving together with Dana Mutual Fund

1.0	DLCIX	Dana Large Cap	Pair Corr
0.85	DSCIX	Dana Small Cap	Pair Corr
0.95	TCTGX	Transamerica Cleartrack	Pair Corr
0.95	TDKTX	Cleartrack 2015 Class	Pair Corr
0.95	TCTJX	Transamerica Cleartrack	Pair Corr
0.95	TCSUX	Cleartrack 2020 Class	Pair Corr

Moving against Dana Mutual Fund

0.75	MXFIX	Mainstay Floating Rate	Pair Corr
0.69	FTCAX	Templeton Strained Bond	Pair Corr
0.45	AQMIX	Aqr Managed Futures	Pair Corr
0.43	RNHIX	Rivernorthoaktree High	Pair Corr
0.4	PDI	Pimco Dynamic Income	Pair Corr
0.39	UIPIX	Ultrashort Mid Cap Steady Growth	Pair Corr
0.76	PSFAX	Short Term Fund	Pair Corr
0.73	FFRIX	Fidelity Advisor Floating	Pair Corr

Related Correlations Analysis

	QMHIX	ABNCX	AIAHX	ABNTX	TIIHX	QMHRX
QMHIX		0.43	0.29	0.51	0.48	1.0	QMHIX
ABNCX	0.43		0.92	0.99	0.99	0.43	ABNCX
AIAHX	0.29	0.92		0.89	0.9	0.29	AIAHX
ABNTX	0.51	0.99	0.89		1.0	0.51	ABNTX
TIIHX	0.48	0.99	0.9	1.0		0.48	TIIHX
QMHRX	1.0	0.43	0.29	0.51	0.48		QMHRX
	QMHIX	ABNCX	AIAHX	ABNTX	TIIHX	QMHRX

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Risk-Adjusted Indicators

There is a big difference between Dana Mutual Fund performing well and Dana Large 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 Dana Large'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
QMHIX	0.75	0.14	0.14	(0.80)	0.81	(0.83)	1.68	(1.30)	3.96
ABNCX	0.15	0.02	0.12	0.32	0.00	(0.18)	0.30	(0.30)	0.90
AIAHX	0.20	0.02	0.11	(0.42)	0.12	(0.25)	0.48	(0.39)	1.35
ABNTX	0.14	0.02	0.14	0.55	0.00	(0.19)	0.30	(0.30)	0.99
TIIHX	0.14	0.02	0.14	0.41	0.00	(0.18)	0.28	(0.29)	0.95
QMHRX	0.74	0.14	0.14	(0.77)	0.81	(0.83)	1.68	(1.42)	3.95

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