Dana Large Correlations

Mutual Funds . USA . 
Fund . Dana Large Cap
DLCIX Fund  USD 21.63  0.03  0.14%   
The current 90-days correlation between Dana Large Cap and Dodge International Stock is 0.18 (i.e., Average 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

Very poor diversification

The correlation between Dana Large Cap and DJI is 0.81 (i.e., Very poor 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 gross domestic product.

Moving together with Dana Mutual Fund

  0.99ESGIX Dana Epiphany EsgPairCorr
  0.93DSCIX Dana Small CapPairCorr
  0.75VTSAX Vanguard Total StockPairCorr
  0.72VFIAX Vanguard 500 IndexPairCorr
  0.75VTSMX Vanguard Total StockPairCorr
  0.75VITSX Vanguard Total StockPairCorr
  0.74VSMPX Vanguard Total StockPairCorr
  0.75VSTSX Vanguard Total StockPairCorr
  0.72VFINX Vanguard 500 IndexPairCorr
  0.74VFFSX Vanguard 500 IndexPairCorr
  0.72VINIX Vanguard InstitutionalPairCorr
  0.72VIIIX Vanguard InstitutionalPairCorr
  0.89FSMMX Fs Multi StrategyPairCorr
  0.86BTMPX Ishares Msci EafePairCorr
  0.86BTMKX Blackrock InternationalPairCorr
  0.86MDIIX Blackrock Intern IndexPairCorr
  0.69SPMPX Invesco Steelpath MlpPairCorr
  0.69MLPNX Oppenheimer Steelpath MlpPairCorr
  0.69MLPMX Oppenheimer Steelpath MlpPairCorr
  0.67SPMJX Invesco Steelpath MlpPairCorr
  0.82INUTX Columbia DividendPairCorr
  0.87FAHHX American Funds AmericanPairCorr
  0.89SEQFX Sit Emerging MarketsPairCorr
  0.8GAAAX Gmo Opportunistic IncomePairCorr
  0.67ACAYX Alger Capital ApprecPairCorr
  0.88TSIPX Tiaa Cref LifestylePairCorr
  0.88BDOKX Blackrock Acwi ExusPairCorr
  0.96MMRIX Mainstay ModeratePairCorr
  0.79BOGIX Bogle Small CapPairCorr
  0.9TOVIX American Beacon TocqPairCorr
  0.82WFCPX Wells FargoPairCorr
  0.68FDFIX Fidelity Flex 500PairCorr
  0.89CMNWX Principal CapitalPairCorr
  0.92FLSNX Franklin Lifesmart 2050PairCorr
  0.85FMEFX Nuveen Mid CapPairCorr
  0.94MLTCX Mfs Lifetime 2030PairCorr
  0.65TIRGX T Rowe PricePairCorr
  0.72TACAX John Hancock CaliforniaPairCorr
  0.87WHGIX Westwood Income OppoPairCorr

Related Correlations Analysis


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.

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