Destinations Municipal Correlations

DMFFX Fund

USD 9.72 0.04 0.41%

The current 90-days correlation between Destinations Municipal and Destinations Multi Strategy is -0.03 (i.e., Good diversification). The correlation of Destinations Municipal 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 Municipal Correlation With Market

Poor diversification

The correlation between Destinations Municipal Fixed and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Destinations Municipal Fixed 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 Municipal Fixed. 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

0.85	DIEZX	Destinations International	Pair Corr
0.87	DIEFX	Destinations International	Pair Corr
0.92	DLDFX	Destinations Low Duration	Pair Corr
0.92	DLDZX	Destinations Low Duration	Pair Corr
1.0	DMFZX	Destinations Municipal	Pair Corr
0.98	DRAFX	Destinations Real Assets	Pair Corr
0.87	DSMFX	Destinations Small Mid	Pair Corr
0.82	DSMZX	Destinations Small Mid	Pair Corr
0.9	DCFFX	Destinations Core Fixed	Pair Corr
0.91	DCFZX	Destinations Core Fixed	Pair Corr
0.91	DGEZX	Destinations Equity	Pair Corr
0.91	DGEFX	Destinations Equity	Pair Corr
0.97	DGFZX	Destinations Global Fixed	Pair Corr
0.97	DGFFX	Destinations Global Fixed	Pair Corr
0.99	VWITX	Vanguard Intermediate-ter	Pair Corr
0.99	VWIUX	Vanguard Intermediate-ter	Pair Corr
0.98	AFTEX	Tax Exempt Bond	Pair Corr
0.98	AFTFX	Tax Exempt Bond	Pair Corr
0.99	TEBCX	Tax Exempt Bond	Pair Corr
0.98	TEAFX	Tax Exempt Bond	Pair Corr
0.98	TFEBX	Tax Exempt Bond	Pair Corr
0.98	FLTMX	Fidelity Intermediate	Pair Corr
0.98	GSMUX	Goldman Sachs Dynamic	Pair Corr
0.99	GSMIX	Goldman Sachs Dynamic	Pair Corr
0.8	XDSMX	Dreyfus Strategic	Pair Corr
0.72	XNXJX	Nuveen New Jersey	Pair Corr
0.84	XNBHX	Neuberger Berman Int	Pair Corr
0.92	RECRX	Rbc Emerging Markets	Pair Corr

Moving against Destinations Mutual Fund

0.31

DSHFX

Brinker Capital Dest

Pair Corr

Related Correlations Analysis

	DIEZX	DIEFX	DLCFX	DLDFX	DLCZX	DLDZX	DMSFX	DMSZX
DIEZX		1.0	0.8	0.8	0.84	0.8	0.58	0.61	DIEZX
DIEFX	1.0		0.78	0.81	0.81	0.81	0.55	0.59	DIEFX
DLCFX	0.8	0.78		0.42	0.99	0.41	0.89	0.91	DLCFX
DLDFX	0.8	0.81	0.42		0.47	1.0	0.13	0.18	DLDFX
DLCZX	0.84	0.81	0.99	0.47		0.47	0.87	0.89	DLCZX
DLDZX	0.8	0.81	0.41	1.0	0.47		0.12	0.17	DLDZX
DMSFX	0.58	0.55	0.89	0.13	0.87	0.12		1.0	DMSFX
DMSZX	0.61	0.59	0.91	0.18	0.89	0.17	1.0		DMSZX
	DIEZX	DIEFX	DLCFX	DLDFX	DLCZX	DLDZX	DMSFX	DMSZX

Risk-Adjusted Indicators

There is a big difference between Destinations Mutual Fund performing well and Destinations Municipal 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 Municipal'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
DIEZX	0.73	0.26	0.23	0.46	0.74	(0.88)	1.43	(1.35)	14.18
DIEFX	0.70	0.23	0.20	0.39	0.78	(0.83)	1.40	(1.32)	12.27
DLCFX	0.61	0.07	0.09	0.10	0.67	(0.71)	0.92	(1.34)	8.45
DLDFX	0.07	0.00	0.13	0.00	0.00	(0.16)	0.11	(0.11)	1.08
DLCZX	0.68	0.13	0.17	0.20	0.60	(0.83)	0.89	(1.33)	12.33
DLDZX	0.07	0.02	0.11	(3.60)	0.00	(0.15)	0.11	(0.11)	1.04
DMSFX	0.11	0.00	0.00	(0.01)	0.05	(0.17)	0.19	(0.19)	1.27
DMSZX	0.12	0.00	0.01	0.01	0.05	(0.19)	0.20	(0.20)	1.31

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