Dnp Select Correlations

DNP Fund

USD 9.36 0.04 0.43%

The current 90-days correlation between Dnp Select Income and Cohen And Steers is 0.59 (i.e., Very weak diversification). The correlation of Dnp Select 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.

Dnp Select Correlation With Market

Average diversification

The correlation between Dnp Select Income and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dnp Select Income 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 Dnp Select Income. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Dnp Fund

0.69	NEA	Nuveen Amt Free	Pair Corr
0.7	NVG	Nuveen Amt Free	Pair Corr
0.66	BMRRX	Blackrock Mid Cap	Pair Corr
0.88	AMTZX	Ab All Market	Pair Corr
0.64	ABWYX	Ab All Market	Pair Corr
0.67	TEDNX	Tiaa Cref Emerging	Pair Corr
0.64	PHYRX	High Yield Fund	Pair Corr
0.73	TAHYX	Pioneer High Yield	Pair Corr

Moving against Dnp Fund

0.43

VVPR

VivoPower International

Pair Corr

Related Correlations Analysis

	UTF	RNP	RQI	PDI	CHY	CHW	CHI	CCD	EVT	UTG
UTF		0.9	0.94	0.32	0.14	0.54	0.16	-0.44	0.91	0.83	UTF
RNP	0.9		0.95	0.38	0.17	0.68	0.18	-0.34	0.9	0.69	RNP
RQI	0.94	0.95		0.45	0.04	0.62	0.06	-0.41	0.95	0.83	RQI
PDI	0.32	0.38	0.45		-0.68	0.45	-0.68	0.31	0.41	0.6	PDI
CHY	0.14	0.17	0.04	-0.68		0.17	0.94	-0.43	0.02	-0.25	CHY
CHW	0.54	0.68	0.62	0.45	0.17		0.22	-0.09	0.62	0.52	CHW
CHI	0.16	0.18	0.06	-0.68	0.94	0.22		-0.3	0.07	-0.22	CHI
CCD	-0.44	-0.34	-0.41	0.31	-0.43	-0.09	-0.3		-0.42	-0.17	CCD
EVT	0.91	0.9	0.95	0.41	0.02	0.62	0.07	-0.42		0.79	EVT
UTG	0.83	0.69	0.83	0.6	-0.25	0.52	-0.22	-0.17	0.79		UTG
	UTF	RNP	RQI	PDI	CHY	CHW	CHI	CCD	EVT	UTG

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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

RQI	+ 0.95	RNP
EVT	+ 0.95	RQI
RQI	+ 0.94	UTF
CHI	+ 0.94	CHY
EVT	+ 0.91	UTF
RNP	+ 0.9	UTF

High negative correlations

CHI	- 0.68	PDI
CHY	- 0.68	PDI
CCD	- 0.44	UTF
CCD	- 0.43	CHY
EVT	- 0.42	CCD
CCD	- 0.41	RQI

Risk-Adjusted Indicators

There is a big difference between Dnp Fund performing well and Dnp Select 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 Dnp Select'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
UTF	0.73	(0.03)	0.00	(0.09)	0.00	0.00	1.29	(1.74)	3.09
RNP	0.80	(0.08)	0.00	(0.12)	0.00	0.00	1.59	(1.88)	5.45
RQI	0.89	(0.06)	0.00	(0.07)	0.00	0.00	1.97	(1.83)	5.75
PDI	0.37	0.04	0.05	0.15	0.57	(0.35)	0.71	(0.92)	2.13
CHY	0.67	(0.07)	0.00	(0.38)	0.00	0.00	1.62	(1.55)	3.92
CHW	0.61	0.01	0.01	0.02	0.81	(0.61)	1.20	(1.31)	3.75
CHI	0.70	(0.04)	0.00	(0.15)	0.00	0.00	1.48	(1.42)	4.37
CCD	0.66	0.05	0.04	0.39	0.85	(0.65)	1.48	(1.44)	4.31
EVT	0.50	(0.03)	0.00	(0.08)	0.00	0.00	1.03	(1.01)	3.93
UTG	0.86	0.07	0.04	0.16	1.55	(0.74)	1.92	(2.83)	5.72

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