Driehaus Small Correlations

DNSMX Fund

USD 23.76 0.20 0.83%

The current 90-days correlation between Driehaus Small Cap and Dunham High Yield is 0.45 (i.e., Very weak diversification). The correlation of Driehaus Small 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.

Driehaus Small Correlation With Market

Significant diversification

The correlation between Driehaus Small Cap and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Driehaus Small 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 Driehaus Small 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 population.

Moving together with Driehaus Mutual Fund

0.8	DMAGX	Driehaus Multi Asset	Pair Corr
0.77	DMCRX	Driehaus Micro Cap	Pair Corr
0.75	DVSMX	Driehaus Small Cap	Pair Corr
0.68	DEVDX	Driehaus Event Driven	Pair Corr
0.61	VSGAX	Vanguard Small Cap	Pair Corr
0.68	VSGIX	Vanguard Small Cap	Pair Corr
0.61	VISGX	Vanguard Small Cap	Pair Corr
0.76	VEXPX	Vanguard Explorer	Pair Corr
0.84	VEXRX	Vanguard Explorer	Pair Corr
0.69	JGMIX	Janus Triton	Pair Corr
0.68	JGMRX	Janus Triton	Pair Corr
0.69	JGMNX	Janus Triton	Pair Corr
0.62	TCTGX	Transamerica Cleartrack	Pair Corr
0.62	TDKTX	Cleartrack 2015 Class	Pair Corr
0.62	TCTJX	Transamerica Cleartrack	Pair Corr
0.62	TCSUX	Cleartrack 2020 Class	Pair Corr
0.85	SFMRX	American Beacon Stephens	Pair Corr

Moving against Driehaus Mutual Fund

0.77	UIPIX	Ultrashort Mid Cap	Pair Corr
0.67	PRLVX	Private Shares	Pair Corr
0.46	TSDCX	Touchstone Ultra Short	Pair Corr
0.45	FTCAX	Templeton Strained Bond	Pair Corr
0.35	DNMDX	Dunham Monthly Distr	Pair Corr
0.31	DLSNX	Doubleline Low Duration	Pair Corr

Related Correlations Analysis

	DNHYX	MRHYX	SEIYX	PYRLX	BUFHX	LSYFX
DNHYX		0.99	0.95	0.98	0.88	0.89	DNHYX
MRHYX	0.99		0.93	0.98	0.84	0.89	MRHYX
SEIYX	0.95	0.93		0.93	0.88	0.94	SEIYX
PYRLX	0.98	0.98	0.93		0.83	0.89	PYRLX
BUFHX	0.88	0.84	0.88	0.83		0.85	BUFHX
LSYFX	0.89	0.89	0.94	0.89	0.85		LSYFX
	DNHYX	MRHYX	SEIYX	PYRLX	BUFHX	LSYFX

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Risk-Adjusted Indicators

There is a big difference between Driehaus Mutual Fund performing well and Driehaus Small 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 Driehaus Small'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DNHYX	0.14	0.02	(0.17)	0.69	(0.19)	0.23	(0.23)	1.04
MRHYX	0.11	0.02	(0.24)	0.83	(0.16)	0.24	(0.23)	0.59
SEIYX	0.14	0.02	(0.19)	0.90	(0.27)	0.20	(0.20)	1.18
PYRLX	0.14	0.02	(0.14)	1.49	(0.21)	0.32	(0.31)	1.10
BUFHX	0.09	0.03	(0.23)	1.85	(0.13)	0.19	(0.09)	0.66
LSYFX	0.14	0.02	(0.21)	0.40	(0.22)	0.41	(0.20)	1.43

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