Dnp Select Correlations

DNP Fund

USD 10.05 0.01 0.1%

The current 90-days correlation between Dnp Select Income and Fidelity Advisor Small is 0.46 (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

Very good diversification

The correlation between Dnp Select Income and DJI is -0.22 (i.e., Very good 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 various price indices.

Moving against Dnp Fund

0.46	BAC	Bank of America	Pair Corr
0.35	AXP	American Express Earnings Call Next Week	Pair Corr

Related Correlations Analysis

	NTRS	JSVAX	JMVIX	JDPAX	SCFYX	TRLVX	JMCVX	EMGYX	EMGAX	FSCIX
NTRS		0.88	0.96	0.96	0.39	0.36	0.96	0.0	0.64	0.94	NTRS
JSVAX	0.88		0.9	0.9	0.3	0.29	0.9	0.0	0.59	0.84	JSVAX
JMVIX	0.96	0.9		1.0	0.33	0.31	1.0	0.0	0.57	0.9	JMVIX
JDPAX	0.96	0.9	1.0		0.33	0.31	1.0	0.0	0.58	0.9	JDPAX
SCFYX	0.39	0.3	0.33	0.33		0.98	0.33	0.0	0.4	0.47	SCFYX
TRLVX	0.36	0.29	0.31	0.31	0.98		0.31	0.0	0.41	0.46	TRLVX
JMCVX	0.96	0.9	1.0	1.0	0.33	0.31		0.0	0.57	0.9	JMCVX
EMGYX	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	EMGYX
EMGAX	0.64	0.59	0.57	0.58	0.4	0.41	0.57	0.0		0.7	EMGAX
FSCIX	0.94	0.84	0.9	0.9	0.47	0.46	0.9	0.0	0.7		FSCIX
	NTRS	JSVAX	JMVIX	JDPAX	SCFYX	TRLVX	JMCVX	EMGYX	EMGAX	FSCIX

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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

JDPAX	+ 1.0	JMVIX
JMCVX	+ 1.0	JMVIX
JMCVX	+ 1.0	JDPAX
TRLVX	+ 0.98	SCFYX
JMVIX	+ 0.96	NTRS
JDPAX	+ 0.96	NTRS

High negative correlations

FSCIX	- 0.0	EMGYX
EMGAX	- 0.0	EMGYX
EMGYX	- 0.0	JMCVX
EMGYX	- 0.0	TRLVX
EMGYX	- 0.0	SCFYX
EMGYX	- 0.0	JDPAX

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
NTRS	0.97	0.21	0.20	0.27	0.83	(1.11)	1.97	(1.18)	5.22
JSVAX	1.14	0.05	0.05	0.14	1.11	(1.36)	1.84	(2.05)	14.39
JMVIX	0.77	0.21	0.19	0.42	0.34	(0.87)	1.75	(1.18)	10.49
JDPAX	0.77	0.20	0.19	0.38	0.34	(0.88)	1.75	(1.25)	10.50
SCFYX	0.14	(0.02)	0.00	(0.18)	0.00	0.00	0.21	(0.31)	0.73
TRLVX	0.16	(0.02)	0.00	(0.19)	0.00	0.00	0.31	(0.31)	0.72
JMCVX	0.77	0.21	0.20	0.43	0.34	(0.88)	1.72	(1.13)	10.77
EMGYX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EMGAX	0.60	0.02	(0.02)	0.13	0.61	(0.70)	1.30	(1.41)	3.35
FSCIX	0.80	0.08	0.07	0.18	0.83	(0.85)	1.73	(1.44)	4.21

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